# Trump Media and Rumble Stocks Drop Amid Selloff

> Trump Media and Rumble stocks plunge 6% and 8% as high-beta stocks face broad market selloff.
- Title: Trump Media and Rumble Stocks Drop Amid Selloff | Shortify
- Summary: Trump Media and Rumble stocks plunge 6% and 8% as high-beta stocks face broad market selloff. Trump Media stock falls 6% to $6.94 and Rumble stock drops 8%…
- Keywords: trump media, rumble, nasdaq, spdr sp500 etf, social media stocks, high beta stocks, tae technologies, fusion energy, Trump, Media, Stocks, Drop
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/10/16/trump-media-declines-6-as-broad-selloff-weighs-on-high-beta-stocks-rumble-drops-8
- Author: David Moadel
- Published: 2026-10-16T19:10:50+00:00
- Read time: 1 min
- Topics: trump media, rumble, nasdaq, spdr sp500 etf, social media stocks, high beta stocks, tae technologies, fusion energy
## Market Selloff Hits Social Media Stocks
Trump Media stock declines 6% to $6.94 in afternoon trading while Rumble stock drops 8% to $5.66.
## Broad Market Selloff
SPDR S&P 500 ETF Trust falls 1.44% while Global X Social Media ETF drops only 0.4%.
## High-Beta Stocks Take Brunt
Trump Media and Rumble are smaller, more volatile stocks that amplify market selloffs.
## Trump Media's Business Model
Trump Media operates Truth Social, Truth+ streaming, and Truth.Fi financial services with minimal revenue.
## TAE Merger Registration
Trump Media and TAE Technologies filed an all-stock merger registration in late September.
## Merger Approval Challenges
Trump Media faces shareholder and regulatory approvals for the TAE merger.
## Investor Advice
Investors should keep modest positions until TAE merger approvals resolve.
## Key takeaway

Trump Media stock falls 6% to $6.94 and Rumble stock drops 8% to $5.66 during a market selloff.