Trump Media & Technology Group's Stock Decline

Shares in Trump Media & Technology Group (NASDAQ: DJT) fell over 5% in premarket US trading on Monday as investors evaluated Donald Trump’s presidential election prospects.

The stock price, seen as a proxy for traders anticipating election outcomes, dropped sharply last week. It fell 13.5% on Friday, reducing the value of Trump’s majority stake in the business to about $3.5 billion from approximately $5.9 billion the prior Tuesday.

Trump owns nearly 57% of the company, which manages the Truth Social platform, based on a recent regulatory filing. The company went public in March via a merger with Digital World Acquisition Corp.

Since its debut, the stock has experienced considerable volatility. In mid-July, it surged after a foiled assassination attempt on Trump but subsequently fell when Kamala Harris replaced Joe Biden as the Democratic nominee.

In October, the stock rallied again as online prediction markets indicated Trump, the Republican candidate, had a significant advantage over Harris. However, concerns about market manipulation have been raised, and national polls show tight competition.

With the election just one day away, both Trump and Harris campaigned intensely in crucial battleground states. A significant survey from Iowa indicated Harris was leading Trump by three percentage points, primarily due to support from women.

The race remains highly competitive, with a New York Times/Siena poll indicating Harris has slight leads in Nevada, North Carolina, Georgia, and Wisconsin. The candidates are tied in Pennsylvania and Michigan, while Trump has a three-point lead in Arizona.