Trump Media stock falls after Donald Trump is found guilty of silencing By Reuters

(May 30 story corrects closing price to $51.84 (rather than $51.12) in paragraph 2, corrects paragraph 4 to show IPO launched through merger with SPAC, corrects high closing price to $66.22 (rather than $79.38) in paragraph 5 It’s corrected.)

Chibuike Oguh

NEW YORK (Reuters) – Trump Media & Technology Group Inc. Technology Group’s stock price fell 6.5%.

The parent company of Truth Social, majority-owned by Trump, was trading at $48.44 after the closing bell. It closed at $51.84 during regular hours on Thursday, giving it a valuation of $9 billion.

After two days of deliberations, the 12-member jury announced that it had found President Trump guilty on all 34 charges he faced. Judge Juan Merchan set a sentencing date for July 11, just days before the July 15 start of the Republican National Convention, which is expected to formally nominate Trump as the presidential candidate.

Trump Media’s stock began trading on March 26 after the company merged with a special purpose acquisition company, Digital World Acquisition (SPAC). Trump supporters and speculators have been buying up the company’s stock, sending it soaring as much as 59% in its Nasdaq debut. The company reported an adjusted operating loss of $12.1 million on revenue of $770,500 for the March quarter.

Stock prices were very volatile. The highest closing price was $66.22 on March 27th and the lowest closing price was $22.84 on April 16th.