Trump Media Stock Crashes to $4.49 After GOP Midterm Defeat, Now 94% Below Its 2024 Peak

President Donald Trump's media company plunged 24.5% to a record closing low of $4.49 per share on Wednesday, 4 November, following sweeping Republican defeats in the US midterm elections. The sell-off left Trump Media & Technology Group (TMTG) roughly 94% below its 2024 peak, raising fresh questions about the company's future as Democrats seized control of Congress.

The company, which operates Trump's Truth Social platform, has endured a prolonged stock market slump amid heavy financial losses and uncertainty over its business prospects.

Trump's Stake in Trump Media Faces Fresh Pressure

Trump's financial interest in the company remains substantial. Regulatory filings show that he is the sole beneficiary of a trust holding approximately 114.8 million Trump Media shares, representing about 41% of the company. His eldest son, Donald Trump Jr., manages the trust. According to Forbes, Trump's estimated net worth fell by $168 million on Wednesday as shares tumbled following the election results. The latest decline extends a punishing year for investors, with shares losing more than 66% of their value since the start of 2026.

Charlie Bilello, chief market strategist at Creative Planning, highlighted Trump Media's cumulative financial losses on X. 'Its cumulative net losses since inception: -$1.8 billion,' he wrote.

Economist Peter Schiff, meanwhile, suggested the plunge in DJT shares reflects investor fears that Congress could stop Trump from 'using this company to sell market-moving insider information so high-frequency traders can front-run retail investors.'

Millions Lost as Trump Media Seeks New Revenue

Trump Media's troubles stretch well beyond the election. In August, the company reported just $1.7 million in second-quarter revenue against a $238.1 million net loss.

The company has pursued several initiatives to diversify beyond Truth Social, including a proposed merger with a fusion-power developer, cryptocurrency expansion, and plans to charge businesses for faster access to Trump's posts.

Those ambitions have yet to reverse the stock's sustained decline. The sell-off raises fresh questions about Trump Media's long-term value, particularly once Trump leaves the White House.

Democrats Flip Congress in Midterm Upset

Democrats captured both chambers in Tuesday's elections, dealing Trump a major political setback. The party flipped at least seven Senate seats and more than two dozen House districts, according to the Associated Press, while also making gains in governorships and state legislatures. Democrats also flipped Republican-held Senate seats in Texas, Iowa, Ohio, Maine, and Kansas, marking a historic midterm sweep.

The president nevertheless insisted his presence on the ballot would have changed the outcome. 'I wasn't on the Ballot and if I was, we would have won IN A LANDSLIDE!' he declared on Truth Social.

Retail Traders Turn 'Extremely Bearish'

Investor anxiety also intensified on Stocktwits, where sentiment shifted from 'bearish' to 'extremely bearish' over 24 hours as message volume reportedly surged more than 300%, as per platform data.

'$DJT this will never be up,' one user wrote. Another Stocktwits user welcomed the plunge, writing, '$DJT, I'm not gonna lie. I'm not sure I've ever been happy to see a stock lose 25% in one day. But I'll make an exception for this one. Maybe we'll see another 25% decline tomorrow. Future penny stock.' The reaction highlighted doubts among some retail traders about Trump Media's prospects following the Republican election defeats.

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