Trump personally loses $500M after Truth Social stock takes post-verdict plunge
Former President Donald Trump in Las Vegas in October 2023 (Gage Skidmore)
Alex Henderson May 30, 2024
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Late Thursday afternoon, May 30, a jury in Lower Manhattan found former President Donald Trump guilty on 34 criminal counts in Manhattan District Attorney Alvin Bragg Jr.’s hush money/falsified business records case. The verdict marked the first time in the United States’ 248-year history that a former president was convicted on criminal charges.
Justice Juan Merchan set July 11 as the sentencing date.
This bombshell is already having a financial impact. Forbes reports that after the verdict came down, shock shares for Trump Media — the parent company of Trump’s Social Media platform — “tanked” in value.
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READ MORE: ‘The law finally caught up to him’: Experts react to Trump being convicted of 34 felonies
According to Forbes, Trump Media shares “traded under the ticker $DJT, fell 9 percent in after-hours trading by 5:45 p.m.”
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