Trump Media & Technology Group Corp. (DJT) saw a significant decline in its stock price on January 27, 2025, closing at $29.54, down 9.71% from the previous close of $32.71. The stock opened at $31.39 and reached a high of $31.83 before dropping to a low of $29.15. The trading volume was notably low at 10,292,142 shares, just 31.06% of the average daily volume. The decline was influenced by JPMorgan Chase & Co.'s decision to reduce its holdings by 16.7%, selling 8,825 shares, which likely contributed to the negative sentiment. Additionally, Donald Trump's removal from the Bloomberg Billionaires Index due to a decrease in his net worth has further pressured the stock, as his financial standing is closely tied to the company's performance.
The stock's recent struggles are also linked to broader concerns about the company's fundamentals and the impact of Trump's political trajectory. The inauguration has led to a 21% drop in DJT's stock over the past five trading sessions. The company's recent announcement of a massive share sale, which could dilute existing shareholders' stakes, has added to the uncertainty. Furthermore, the launch of Trump's cryptocurrency token, $TRUMP, has faced ethical concerns and a significant decline in value, adding complexity to the company's outlook.