Key Points
- DJT The stock price has fallen by nearly 70% in 2026.
- External investors are facing an estimated cumulative loss of $2.2 billion.
- Trump still holds shares worth approximately $460 million.
DJT closed at $3.99 on November 6, marking a year-on-year decline of 69.9%, and a decrease of 29.5% in the past five trading days. An independent analysis released on Friday estimated that external shareholders who have entered through the issuance and sale of shares since 2021 have incurred a cumulative loss of over $2.2 billion based on market value.
Trump still holds approximately $460 million in shares; DJT stock price tumbles significantly
According to disclosure documents submitted by the company to the U.S. Securities and Exchange Commission (SEC), Trump Media has raised funds multiple times and expanded its investment in cryptocurrencies despite its limited original social media business revenue.
The value of this stake has significantly decreased from its previous book value of over $6 billion, but compared to the estimated losses of external shareholders, it is still considerable in scale.
After the mid-term elections on November 3rd, the stock's downward trend accelerated. DJT fell by 24.5% on November 4th, another 10.5% on November 5th, and then declined by 0.75% on Friday.
Trump's media's financial performance, to some extent, explains why investors question its valuation.
The company's revenue in the second quarter was approximately $1.67 million, which is higher than the $883,000 from the same period last year. However, the company reported a net loss of about $238 million, which includes significant unrealized losses related to cryptocurrency investments.
Its Truth + streaming platform also requires a significant investment, but it has not resulted in corresponding sales. According to reports, as of June 2026, the service's cumulative revenue was approximately $630,000, while development expenses have exceeded $200 million.
During the broader decline in the company's stock price, there has always been a contrast between its operational performance and market valuation.
$6 billion Fusion merger brings another potential turning point
Trump's media is currently advancing a major strategic transformation through a proposed merger with nuclear fusion developer TAE Technologies.
In a announcement on November 5th, the two companies confirmed that SEC had announced the effectiveness of their merger registration declaration, advancing this transaction which was initially valued at over $6 billion.
As this transaction progressed, Trump's media team also re-examined certain aspects of their cryptocurrency strategy.
Ethan Mercer
Ethan Mercer is a financial journalist who covers cryptocurrency, stocks, and the global economy. He studied economics and finance before turning to market reporting, with a particular focus on Bitcoin, stocks, monetary policy, and investor sentiment. His work focuses on explaining daily market fluctuations and the broader trends behind them.
