FMP
Trump Media Shares Drop Over 6% After Jury Convicts Trump in Hush Money Case
May 31, 2024 4:40 PM - Davit Kirakosyan
Image credit: FMP
Trump Media & Technology Group (NASDAQ:DJT), a media and technology company primarily owned by Donald Trump, experienced a more than 6% drop intra-day today after a New York jury found the former US President guilty in the high-profile hush money case.
After two days of deliberation, the jury convicted Trump of falsifying documents to conceal a payment made to silence a porn star before the 2016 election.
Judge Juan Merchan scheduled sentencing for July 11, just days before the Republican National Convention begins on July 15, where Trump is expected to be officially nominated for president.
Since its initial public offering (IPO) in March, DJT stock has garnered significant attention from Trump supporters and speculators, with shares rising as much as 59% on their Nasdaq debut.
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