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Stock in Donald Trump’s media company hit its lowest level on Wednesday since being publically listed earlier this year.
Trump Media, the parent company of Trump’s Truth Social Network, was trading at $16.98 at closing on Wednesday, down more than 78 percent from the stock’s March high of $79.38 per share.
The slump means that Donald Trump, the company’s largest shareholder, has seen his personal, roughly 60 percent stake decline in value from $6bn to $2bn during that time.
A number of factors could be driving the crash of the stock price, which often serves as an unofficial barometer of how investors perceive Trump’s political and business fortunes at any given moment.
On September 19, Trump and other early investors will be allowed to begin selling their shares, which could further …