In a recent development, the share price of Trump Media, the social media company owned by former President Donald Trump, closed trading down by 5.4%. The company's shares, known as DJT, ended the day at $32.41. This decline comes on the heels of a previous drop of 8.57% the day before, indicating a downward trend for the company's stock.

Trump Media made its debut on the Nasdaq on March 26, with an initial opening price of $70.90. The stock experienced a peak of almost $80 on that very day. However, since then, the share price has been in decline, falling significantly below the initial levels.

The market capitalization of Trump Media now stands at $4.43 billion, which is considerably lower compared to its value when it started trading last month. Despite the substantial decrease, the company's market value remains relatively high, considering its financial performance in the previous year.

According to reports, Trump Media recorded revenues of just $4.1 million in 2023, with a net loss of $58 million. Trump Media's flagship platform is the Truth Social app, which Donald Trump frequently uses to communicate with his followers. The former president holds approximately 60% of the company's shares.

As of the latest closing, Trump's shares in Trump Media are valued at $2.55 billion on paper, which is roughly half of what they were worth just two weeks ago. However, due to the terms of the merger that led Trump Media to go public, Trump is restricted from selling his shares for a period of six months, starting from the closing date of the deal on March 22.

It is important to note that Donald Trump is still seen as the presumptive Republican presidential nominee, and his ownership in Trump Media is a significant part of his overall wealth. The recent decline in share price may impact his personal finances, given the substantial drop in the value of his shares.

The future of Trump Media remains uncertain as it continues to face challenges in the competitive social media landscape. The company will need to strategize and adapt to regain investor confidence and turn its financial results around.