Aytac Unal/ | Anadolu | Getty Images
Shares of Trump media fell more than 22% on Wednesday, capping a remarkable rally that added billions of dollars to former President Donald Trump's net worth on paper ahead of the 2024 election.
DJT stock, which closed at $51.51 per share on Tuesday, was trading below $40 around midday ET on Wednesday.
Trump, the Republican presidential nominee, owns nearly 57% of the company, according to recent regulatory filings.
His stake was worth about $4.5 billion as of midday Wednesday – nearly $1.4 billion less than Tuesday afternoon.
Trump has vowed not to sell his stocks.
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Trump Media (DJT) stock price.
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