Trump Media & Technology Group shares have tumbled to an all-time low, extending a brutal sell-off that has erased more than half of the company's market value this year. DJT last traded at $6.9, a 60% decline from its 2025 peak and 33% below its August high. The persistent slide reflects a confluence of operational, political, and market headwinds that show little sign of abating.
Political and Economic Pressures Mount
President Donald Trump's approval rating has sunk to a record low, with a net approval of minus 27 percentage points. According to recent polling, only 34% of voters approve of his performance, while 61% disapprove. The decline is attributed to rising inflation, corruption allegations, and the ongoing U.S.-Iran conflict, which have alienated voters across the political spectrum.
The political climate is directly impacting Truth Social's user engagement. SimilarWeb data shows the platform attracted 15.31 million visits in September, an 11% month-over-month increase, but that figure remains a fraction of competitors. X and Reddit each drew over 4 billion visits in the same period, underscoring Truth Social's struggle to gain meaningful traction.
Financial Losses and Advertiser Reluctance
Trump Media continues to burn cash, reporting a net loss of $238 million in the June quarter and $643 million for the first half of the year. Large advertisers have largely avoided Truth Social, and the company's recently launched API solution is unlikely to generate significant revenue in the near term. With no clear path to profitability, the stock's valuation appears stretched.
Adding to the pressure, Bitcoin's recent pullback has weighed on DJT. Trump Media holds 12,062 BTC, making it the world's tenth-largest corporate Bitcoin holder. As Bitcoin slipped from $87,000 to around $81,000, the value of those holdings dropped to approximately $977 million, reducing a potential source of balance-sheet strength.
Technical Outlook Points Lower
From a technical perspective, the chart paints a bearish picture. DJT has fallen below its 50-day moving average and has formed an inverted cup-and-handle pattern, a classic continuation signal. The Average Directional Index (ADX) has risen to 21, its highest level since August, indicating strengthening downward momentum.
Analysts see the next key support at $5. A break below that level could open the door to further declines, potentially toward $3. Given the company's ongoing losses and the absence of a near-term catalyst, the risk-reward remains skewed to the downside.
This article is for informational purposes only and does not constitute financial advice.
