DJT Stock Crashes 25% To Record Low After Democratic Midterm Rout: Trump’s Fortune Reportedly Shrinks By $168M
Shares of POTUS-linked Trump Media & Technology Group Corp. (DJT) plunged nearly 25% on Wednesday and dipped to a record low after the midterms ushered in a blue tidal wave that trounced Republicans.DJT stock was down to $4.46, down more than 69% from its annual highs. The sharp plunge in the stock also dented U.S. President Donald Trump’s wealth.Trump’s Wealth Dips Amid Democratic Win In Both ChambersThe President owns about 114.8 million DJT shares, which represents an ownership of roughly 41%.According to a Forbes report, Trump’s estimated net worth plunged by $168 million on Wednesday as DJT stock plummeted after the midterm results.“Trump Media stock is now down 97% from its peak, hitting another all-time low today. Its cumulative net losses since inception: -$1.8 billion,” Charlie Bilello, Chief Market Strategist at Creative Planning, noted in a post on X.Meanwhile, economist Peter Schiff said in a post on X that he believes the plunge in DJT shares likely shows investors fear Congress will put a stop to Trump from “using this company to sell market-moving insider information so high-frequency traders can front run retail investors.”Meanwhile, ’s price also plunged more than 17.6% to $1.25.Democrats Flip Congress In Midterm RoutThe Nov. 3 U.S. midterm election results delivered a sweeping victory for Democrats, who flipped control in both chambers of Congress.While final results are still being counted, Democrats flipped at least seven Senate seats, 24 House districts, five governorships, and twelve state legislative chambers, securing an early reported majority of at least 231–141 in the House and 54–44 in the Senate.Key red states including Texas, Iowa, Ohio, Maine, and Kansas also flipped blue, making history.Meanwhile, Trump said in a Truth Social post on Wednesday, “I wasn’t on the Ballot and if I was, we would have won IN A LANDSLIDE! Thank you for your attention to this matter.”DJT Stock: Retail Turns ‘Extremely Bearish’On Stocktwits, retail sentiment around slipped from ‘bearish’ to ‘extremely bearish’ over 24 hours, while message volume rose more than 300%, according to platform data.One user , “$DJT this will never be up.”Another user said, “$DJT i’m not gonna lie. I’m not sure I’ve ever been happy to see a stock lose 25% in one day. But I’ll make an exception for this one. Maybe we'll see another 25% decline tomorrow. Future penny stock.”DJT stock is down more than 66% this year.