Why Trump Media Stock Sank to a New All-Time Low This Week

Trump Media & Technology (NASDAQ: DJT) stock fell again this week. The company's share price closed out the stretch down 12.3% from the previous Friday's closing price, according to data from S&P Global Market Intelligence. The S&P 500 index closed out the week down 4.3%, and the Nasdaq Composite index ended the period down 5.8%.Trump Media stock lost ground as rising fears that the U.S. economy could slip into a recession prompted sell-offs for the broader market. In addition to macroeconomic factors, the company's share price likely moved lower due to competition from other social media platforms and the lock-up expiration on insider stock sales set to take place later this month.Bearish sentiment surrounding the U.S. economy increased this week. Tracking released on Tuesday showed that the country's manufacturing sector had declined again in August, and Friday's jobs report from the Labor Department arrived with weaker-than-expected results. The average Wall Street target had called for 160,000 jobs to be added last month, but only 142,000 jobs were added in the period. Job growth numbers for June and July were also revised downwards.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool