Shares of Trump Media & Technology Group (DJT), the parent company of former President Donald Trump’s social media platform Truth Social, fell 6% in early trading on Friday after Trump was found guilty on all 34 counts of falsifying business records intended to influence the 2016 presidential campaign.
Trump, who will likely appeal the verdict, will be sentenced on July 11 and faces up to four years in prison on each count.
Trump Media, the parent company of Truth Social, went public on the Nasdaq after merging with special purpose acquisition company Digital World Acquisition Corp.
Shares have fallen about 10% since the company’s public debut at the end of March.
Trump founded Truth Social after he was kicked off major social media apps like Facebook and Twitter, the platform now known as X, following the Jan. 6 Capitol riots in 2021. Trump has since been reinstated on those platforms,…
