Trump Media stock drops 6% after Donald Trump inauguration
Trump Media stock drops 6% after Trump sworn in as 47th U.S. president
Shares of Trump Media & Technology Group (DJT) fell over 6% to $37.47 on Monday, coinciding with Donald Trump’s inauguration as the 47th President of the United States.
Despite the day’s decline, the stock has shown strong performance in recent months, rising 16.6% year-to-date and surging 65.6% over the past 12 months. Investors remain divided on the long-term outlook for the company, which has benefited from Trump’s continued influence in media and politics, reports Investing.com.
Trump was sworn in alongside Vice President JD Vance, who is now one of the youngest vice presidents in U.S. history. During his inaugural address, Trump reiterated key themes from his previous presidency, emphasizing strict border and immigration policies and pledging a renewed focus on restoring “American greatness.”
His speech highlighted plans to prioritize domestic manufacturing, strengthen national security, and reassert the United States as a global leader.
Following the formal ceremony, Trump addressed a crowd of supporters at Capital One Arena, delivering remarks that echoed his campaign rallies. He outlined immediate actions, including signing several executive orders.
Among these were the rescission of Biden-era policies, a declaration of a national emergency at the southern border, an end to birthright citizenship, and a temporary delay of the TikTok ban. These executive actions underscored Trump’s commitment to the policies that shaped his political identity.
Volatility in Digital Assets Linked to Trump
Monday’s events also triggered significant fluctuations in digital assets tied to Trump. The TRUMP token, which initially gained on the day of the inauguration, plummeted 29% in the subsequent 24 hours, according to data from CoinGecko. Analysts attributed this drop to profit-taking by investors and uncertainty surrounding the administration's policies on digital currencies.
Meanwhile, a meme token associated with First Lady Melania Trump saw an even sharper decline, tumbling 51% in value. These developments highlight the speculative nature of tokens linked to public figures and the volatility that often accompanies political events.
Reminder, Rapper Snoop Dogg faced a wave of criticism after headlining Donald Trump's cryptocurrency-themed party, Crypto Ball. The event took place on Friday in Washington, D.C., ahead of the new president’s inauguration and brought together numerous celebrities and politicians.
