'Wild week': Analysis finds Trump Media stock plummeting amid NYC rally fallout

Former President Donald Trump's eponymous media company saw stock prices plummet Wednesday amid blowback from the racist rhetoric at his New York City rally, a new analysis found.

Trump Media stocks are on track for their largest daily decrease since April — when news broke its main asset Truth Social had lost about $58 million in 2023, Barron's reported.

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

Trump Media trading was halted repeatedly Tuesday after shares swung from 14 percent gains to 3 percent declines, Barron's reported.

The stock, which trades under the ticker DJT, fell 21 percent to $40.84 on Wednesday, according to the Barron's analysis of Dow Jones Market Data.

"The price swings have little to do with the company’s fundamentals–its sales are minuscule for a company of its market value," wrote Brian Swint. "But traders can make money from its volatility."

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Barron's noted Trump Media stock prices are often seen as a measure of the Republican presidential nominee's chances of winning the upcoming election.

"It’s unclear what might happen to DJT if Trump loses the election," Swint wrote. "He said he’s not ready to pare his stake yet, but if his political career ends next week, it’s hard to see how the company could be sustained."

Trump this week has faced condemnation for his rally in Madison Square Garden where a comedian called Puerto Rico a "floating island of garbage", spurred public outcry and potentially lost him a key swing state.

"If you shift just 10 or 15,000 votes of Puerto Ricans away from Donald Trump and back to Kamala Harris, you put her in a very strong position to win," former Republican strategist Mike Madrid said this week.

"Can Bad Bunny and Jennifer Lopez and Geraldo Rivera and Ricky Martin do that? I think they probably can."

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