Trump lost IDR 20 trillion in assets in one day, how come?

Jakarta –

Shares of Donald Trump’s social media company, Truth Social (DJT), have strengthened over the past five weeks. However, it seems that Dewi Fortuna is no longer going with her, the value of the DJT share fell significantly to 22.3% in trading last Wednesday.

Launch CNN, On Thursday (31/10/2024), the decline in share value was the worst loss experienced by Trump Media in a day. Prior to that, DTJ shares fell a record 21.5% in April last year.

Trump’s shares fell in the company, which was initially valued at US $ 5.9 billion or equivalent to Rp. 92.6 trillion, to Rp. Trump’s wealth disappeared Rp.

It is not yet known what sentiment caused the shares to decline so much. The company has also not disclosed information that could explain the sharp decline.

The CEO of Tuttle Capital Management, Matthew Tuttle, assessed that the decline was due to the large selling campaign last Wednesday. The sale occurred because the company’s shares failed to enter the main resistance in the upward trend.

“The smartest traders know you’re making money and get out of there. And let the unwise traders suffer the consequences,” said Tuttle.

Meanwhile, Wedbush Securities senior equity analyst Dan Ives believes it is difficult to predict the movements of Truth Social’s shares. This is similar to what has happened to AMC and GameStop shares over the past few years.

“Truth Social is only a fraction of X and other social media platforms in terms of users. Keeping in mind the election a week away, this stock has become a litmus test for some investors in the race for the White House,” he said.

(fdl/fdl)