Shares of Trump Media dropped greater than 22% Wednesday, pouring chilly water on a exceptional rally that added billions of dollars to former President Donald Trump‘s on-paper internet price within the run-up to the 2024 election.

DJT inventory, which closed at $51.51 per share on Tuesday, was buying and selling underneath $40 round midday ET Wednesday.

Trump, the Republican presidential nominee, owns almost 57% of the corporate, in response to current regulatory filings.

His stake as of noon Wednesday was price round $4.5 billion — almost $1.4 billion decrease than the place it stood Tuesday afternoon.

Trump has vowed to not promote his shares.

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