Trump Media shares continue to track Donald Trump's downward move in opinion polls – which is making him poorer by the day as they hit a succession of new lows this week.
Several weeks ago we noted that the shares had dipped more than 40% from its most recent peak of $US40.58 on July 15 – two days after the assassination attempt that clipped one of his ears and also the week Joe Biden stepped down and Karmala Harris emerged as a possible and then certain candidate the following week.
But on Thursday, Trump Media shares closed below $US20 for the first time since the company went public in March in a backwards merger with a cash box company.
The shares ended at a low of $US19.84 after falling under $US20 for the first time and then bouncing back over that level on Wednesday.
At Thursday’s close, the shares are now down 52% from that July high.
Betting market PredictIt currently forecasts a 47% chance of a Trump win, down from 69% in mid-July after a failed assassination attempt on the former president. It’s been all downhill since then and Trump doesn’t know how to get out of the mess he has created for his campaign and his financial worth.
And a Wall Street Journal poll on Thursday said that Harris leads Trump 48% to 47%.
Trump has a nearly 60% stake in the company, amounting to over $US2.2 billion and accounting for over half his net-worth, according to Forbes magazine’s estimates in its 400 rich list.
So his faltering performance on the campaign trail is in fact making him poorer.
