Trump Media & Technology Group Shares Drop 17% in Pre-Market Trading

Shares of Trump Media & Technology Group Corp (DJT) saw a significant decrease of 17% during pre-market trading on Thursday, according to reports from Benzinga Pro. This decline follows a notable rise of 6% the day before, which was influenced by Donald Trump winning a second term as President.

The recent fall in stock price can be largely attributed to investors opting to take profits after the former President's political comeback. The stock price fell to $29.84 in pre-market trading.

Despite this, U.S. stock futures pointed towards a positive opening on Thursday, following a strong market rally in response to the election outcome the previous day. The small-cap Russell 2000 index futures indicated a 0.4% rise.

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Trump Media & Technology Group, which operates the social media platform Truth Social and is predominantly owned by Trump, is influenced by broader market trends linked to his political activities.

Historically, the stock has faced resistance at the $53.50 mark, first encountered in May, which has contributed to the current downward trend.

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