Who could have predicted this?
Source: NBC News
Shares of Trump Media have erased all their gains since they began trading under the ticker DJT last month.
The stock closed down more than 8% Monday at $37.17 after falling about 11% earlier in the day. It had traded above $79 a share on March 26, the day of its debut.
But experts say it’s hard to draw any firm conclusions about what the stock price’s movement means. That’s because so many available shares — about 12%, one of the highest ratios of any active stock listing — reflect traders’ bets that the stock will fall, said Ihor Dusaniwsky, managing director at S3 Partners, a data and predictive analytics company.
This is called short-selling.
Right now, much of the trading activity surrounding the stock reflects investors’ attempts to position bets around whether it will continue to fall, Dusaniwsky said in an email.
