Trump Media stock hits record low of $5 after midterm losses

Trump Media and Technology Group shares fell to their lowest level ever on Wednesday, trading at just over $5 on the Nasdaq exchange.

The stock lost 11% overnight, dropping from $5.90 as election returns indicated a major victory for Democrats over Republicans in the midterms. Trump reported owning 114 million shares of the company, which he holds through a trust that accounts for more than 40% of the total stock. The share price is down from an all-time high of $101.

Despite the recent decline, Trump has increased his net worth during his time in office. A September analysis by Forbes estimated he is $2.7 billion wealthier than when he took office in 2024. His first year in office saw his tradable investment assets grow by more than $2 billion before the recent downturn.

Other Trump-linked digital assets also lost value. World Liberty Financial tokens, a venture co-founded by the Trump family and the family of Steven Witkoff, traded at less than 5 cents on Wednesday. This represents a decline from a peak of 31 cents in 2025. The tokens began sliding in late October following a hack of the Binance exchange and a drop in support as polls closed around 7 p.m. ET on Tuesday.

The Trump administration recently granted World Liberty Financial a banking license. The company also issues a stablecoin called USDI1, which remains pegged to the US dollar and did not experience large fluctuations. Jim Angel, an associate professor at Georgetown University’s McDonough School of Business, noted that the value of these assets is tied to public perception of the president rather than traditional business metrics.

Angel stated that investors are effectively betting on Trump's popularity rather than investing in the companies themselves. He added that because Trump's popularity is at record lows, the prices of DJT and World Liberty tokens have followed suit. The administration's nominee for diplomatic negotiations regarding Gaza, Iran, and Ukraine, Witkoff, is a personal friend of Trump and a co-founder of the crypto venture.

Separate digital novelty coins known as $Trump also lost value. These tokens, which generated $636 million in sales for the president in 2025, are now priced at about $1.40. They appear to have lost roughly 10% of their value overnight. The coins launched shortly before Trump's inauguration and briefly traded as high as $45 in January 2025.