About two weeks since its meteoric debut, shares of Truth Social are slumping, wiping out billions of dollars in value in former President's Trump's stake.
Shares of Trump Media & Technology Group — the company behind Truth Social — lost 8% on Monday after already losing 12% on Friday.
It's now trading at its lowest level since the company's trading debut on March 26. Trading has been remarkably volatile since its debut, with some big swings.
The sharp declines over the past two days will take a big bite out of Trump's paper gains.
The former president owns a majority stake in the company and his stake was valued at about $2.9 billion on Monday, down from a peak of over $6 billion after its debut on its trading debut.