Trump Media & Technology Group Corp. (DJT) ended the trading week on a sour note, with shares sliding 6.02% to $8.27 in Friday's session. The decline capped an approximately 11% weekly drop, erasing the gains achieved in the prior week and leaving the stock near the lower end of its recent trading range. With about 5.1 million shares changing hands, the company's market capitalization now stands at roughly $2.29 billion.
The stock continues to behave less like a traditional media equity and more like a volatile political and retail-driven play, heavily dependent on hopes for transformative deals rather than underlying financial performance. Investors are closely watching Monday's open for clues on whether the selloff will extend or stabilize.
Broader Market Pressure
Friday's losses were not isolated to Trump Media. A stronger-than-expected May jobs report reignited fears that the Federal Reserve may keep interest rates elevated for longer, triggering a broad market selloff. The Dow Jones Industrial Average fell 1.35%, the S&P 500 dropped 2.64%, and the tech-heavy Nasdaq Composite plunged 4.18%, according to Reuters. Ryan Detrick, chief market strategist at Carson Group, told Reuters, "The dam just broke today."
Online media and social stocks were hit particularly hard. Rumble tumbled 7.4%, Reddit gave up 5.7%, and Meta Platforms shed 5.5%, underscoring broad weakness across the sector.
Financials and Merger Risks
Trump Media's first-quarter results, released in May, revealed a net loss of $405.9 million on revenue of just $0.9 million. The company reported $2.2 billion in total assets, including approximately $2.1 billion in financial assets, but posted an adjusted EBITDA loss of $387.8 million. Adjusted EBITDA, a non-GAAP metric, excludes interest, taxes, depreciation, and amortization. Interim CEO Kevin McGurn emphasized that the company is leveraging its "strong balance sheet and positive operating cash flow" to expand its business operations.
The focal point for traders remains the proposed all-stock merger with TAE Technologies, a fusion-energy company backed by Google, valued at $6 billion. Fusion energy, which powers the sun, has yet to be commercially harnessed by any company. Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, described the tie-up as a "Barbenheimer mashup." Under the current terms, both TAE and Trump Media would each own roughly half of the merged entity if the deal closes by mid-2026, according to Reuters.
Outlook for the Week Ahead
Market participants are bracing for a straightforward test at Monday's opening bell. A bounce in tech stocks and renewed enthusiasm for the TAE deal could provide support for DJT. Conversely, continued selling in speculative technology names would amplify pressure on the company's substantial losses, minimal revenue, and the long timeline to commercialize fusion energy.
This week, trading is expected to follow broader risk sentiment rather than any specific Trump Media event. Traders will be monitoring interest rate moves, the Nasdaq's performance, and any regulatory filings related to the TAE transaction. While DJT has historically moved sharply on headlines, recent rallies have faded when investors demand tangible earnings support.
The key risk remains: if concerns over high interest rates persist, digital-asset prices decline, or doubts grow about the TAE merger's ability to meaningfully boost Trump Media's revenue, Friday's slide may not be the last. For now, the stock continues to trade on narrative, and investors are showing little tolerance for disappointment.
