'Election news clearly matters': Dramatic Trump Media crash forces trading to stop

Trading on Trump Media was halted twice Thursday as shares plummeted in the wake of a racist rally at Madison Square Garden.

DJT stock had dropped nearly 14 percent when trading was halted for a second time at 10:04 a.m. due to volatility, reported CNBC. It had earlier stopped and been restarted.

Donald Trump owns a majority stake in media company, which fell more than 22 percent on Wednesday after being on track for its largest daily increase since April, when news broke that its main asset Truth Social lost about $23 million last year.

"The stock may keep oscillating in what has already been a wild week," Barrons reported.

The latest slide came after the company had recovered from a major sell-off ahead of next week's presidential election, and Barrons correspondent Brian Swift said the fluctuating value could be seen as a "proxy" for Trump's chances of winning a second term in the White House.

"Election news clearly matters for DJT stock, if only as providing trigger points for traders looking to capitalize on its big swings," Swint wrote. "The stock hit its highest level since May earlier in the week as Trump opened a clear lead in betting markets. It has also seemed to get a boost from billionaire Elon Musk’s support of Trump."