10 Stocks Nosedive, Defying Broader Optimism

3. Trump Media & Technology Group Corp. (NASDAQ:DJT)

Trump Media & Technology Group (DJT) fell by 11.09 percent on Tuesday to close at $35.59 each as investors repositioned their portfolios while waiting for further developments about further plans from the administration.

An analyst had already expected a sell-off following Monday’s inauguration. According to the analyst, “an ensuing slide in these stocks accompanied by strong retail buying would imply institutional investors front-ran retail traders, using them as exit liquidity, thus leaving prices to muddle through thereafter.”

Trump Media (DJT), which is owned by the president-elect, is an American media and technology company headquartered in Florida. It runs the Truth Social social media platform.

The company has remained in a precarious financial position over the past couple of years. The company reported yet another quarterly loss in its third-quarter earnings last November. In the three months ended Sept. 30, Trump Media lost $19.2 million, with revenue falling 5.6% to just $1.01 million from a year earlier.