Home Business Shares of Trump's company fall 21% in one day

Shares of Trump's company fall 21% in one day

by endroar

Trump is far ahead in the race for the Republican Party nomination. Trump's company made its debut in the stock market on March 26. Shares rose to $58 on the first day thanks to fan interest. But when Trump's company presented its financial report yesterday, the share price fell 21 percent or $13.30 to $48.66.

Ross Benes, an analyst at stock market research firm Insider Intelligence, told Reuters that Truth Social's shares were overvalued after the company's bright debut was unsustainable. The company is yet to make a profit, their revenue is low.

Trump's share in this company is about 59 percent, numerically it is 7 crore 87 million. When the stock peaked last week, Trump's market value exceeded $6 billion, or $6 billion, although that has now fallen. However, Trump will not be able to sell his shares or borrow against them for the next six months. If he tries to violate the settlement, the share price could fall further.

source

related posts

Leave a Comment