From 24/7 Wall St. · David Moadel · · 1m
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.
In brief
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% to $5.66 during a market selloff. Originally reported by 24/7 Wall St..
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.
The key point
Trump Media stock falls 6% to $6.94 and Rumble stock drops 8% to $5.66 during a market selloff.
