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This is an adapted excerpt from the Sept. 3 episode of “The 11th Hour with Stephanie Ruhle.”
Shares of Donald Trump’s media company hit a new low on Wednesday, ending the day at $16.98 per share. That’s a decline of 6% for the day. From its high of $79.38 per share in late March, DJT is now down more than 78%.
This drop comes just weeks before Trump can cash in on his nearly 59% stake in the company — the company that essentially does nothing but provide a blank slate for him to post on social media. The “lockup agreement” to hold off on selling is set to expire on Sept. 25, just as the presidential race enters its final stages.
Despite that 78% drop, Trump’s stake in DJT is currently worth more than $2 billion. If Trump sells, that’s money he could use, in theory, to fund his campaign or pay his growing legal fees. It’s easy to see why some may consider buying into DJT’s stock to be the most extraordinary workaround of a campaign contribution to Trump ever.
Join Stephanie Ruhle, Rachel Maddow and many others on Saturday, Sept. 7, in Brooklyn, New York, for “MSNBC Live: Democracy 2024,” a first-of-its-kind live event. You’ll get to see your favorite hosts in person and hear thought-provoking conversations about what matters most in the final weeks of an unprecedented election cycle. Buy tickets here.
Allison Detzel contributed.
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