Marjorie Taylor Greene Faces Nearly 80% Loss on Trump Stock Investment
By Jake Beardslee ·
August 13, 2024
Republican Representative Marjorie Taylor Greene is reportedly facing substantial losses on her investment in Trump Media, the company behind former President Donald Trump's social media platform Truth Social. Megan Smith-USA TODAY
According to official financial disclosure filings, Greene invested approximately $50,000 in Digital World Acquisition Corp. (DWAC) on October 22, 2021, shortly after the announcement of its merger with Trump Media. At the time of purchase, DWAC stock opened at $118.80 and closed around $67. Mark Hoffman / Milwaukee Journal Sentinel / USA TODAY NETWORK
However, recent market performance indicates that Greene's investment may have depreciated by nearly 80%. As of the latest trading session, Trump Media stock (NASDAQ: DJT) closed at $24.88, suggesting a potential loss of up to 79.06% on her initial investment. Jasper Colt / USA TODAY NETWORK
The sharp decline in DJT stock price can be attributed to several factors. Trump Media's Q2 earnings report, released on August 9, revealed a loss of $16.4 million in the previous quarter, primarily due to legal expenses related to the merger with Digital World Acquisition Corp.
Moreover, the company reported a remarkably low revenue of just $836,900, which appears insufficient for a company with a market capitalization of $4.7 billion. Jakub Żerdzicki / Unsplash
Adding to the downward pressure, former President Trump's recent return to X (formerly Twitter) after a 3.5-year absence may have further impacted the stock price of his own social media platform. Jasper Colt/USA TODAY / USA TODAY NETWORK
This investment setback is not isolated in Greene's portfolio. Her other recent stock purchases, including CrowdStrike (NASDAQ: CRWD), Dell (NYSE: DELL), and Intel (NASDAQ: INTC), have also experienced significant declines, ranging from 20.50% to 87.37%. Gage Skidmore from Surprise, AZ, United States of America / Wikimedia
While many members of Congress have reported profitable stock trades, Greene's recent investments appear to be underperforming, making her portfolio one of the weaker performers among U.S. lawmakers. Gage Skidmore from Surprise, AZ, United States of America / Wikimedia
As the market continues to fluctuate, it remains to be seen whether Greene's investments will recover or if this trend of losses will persist. Gage Skidmore from Surprise, AZ, United States of America / Wikimedia
