Trump Media & Technology Group (DJT) Shares Plunge During Pre-Market Trading

Shares of Trump Media & Technology Group Corp (NASDAQ:DJT) saw a notable drop of 17% in pre-market trading on Thursday, as reported by Benzinga Pro. This decline follows a robust 6% increase the day before, which was fueled by Donald Trump’s anticipated return to the White House for a second term.

The recent decline is largely due to investors cashing in on profits after the excitement surrounding Trump's political comeback. During the pre-market session, the stock fell to $29.84, marking a significant decrease.

On the same day, broader U.S. stocks might open positively following a strong rally after the elections. On Wednesday, former President Trump secured a victory after an intense contest against Joe Biden and Kamala Harris. Futures for the small-cap Russell 2000 showed a 0.4% increase, indicating a hopeful start for the market.

Related News: Former President Trump's Political Impact on Related Stocks

Trump Media & Technology Group, known for operating the social media platform Truth Social and owned primarily by Trump, is closely tied to his political events and the overall market trends.

Historically, the stock has seen resistance around the $53.50 mark, a level first hit in mid-May, which has since caused a downward trend.

Next Steps:

• Dogecoin Gains Momentum Following Mention from Elon Musk, Rising by 6%

Note: This content has been developed with assistance and has been edited for clarity.

Image via Shutterstock

shares, Trump, market