Shares in Trump Media slump after former president convicted in hush money trial

Published May 30, 2024 3:56 PM

By MICHELLE CHAPMAN
AP Business Writer

Shares of Trump Media & Technology Group, the owner of social networking site Truth Social, have slumped after former President Donald Trump was convicted in his hush money trial. A New York jury found Trump guilty of falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actor who said the two had sex. Trump Media’s stock was down about 9% in after-hours trading Thursday as news of the verdict emerged. The stock has been extraordinarily volatile since its debut in late March.

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