Shares in Donald Trump’s media company tumbled to a new low on Monday, extending a weeks-long slide, amid a period of political turmoil for the president.
Trump Media & Technology Group (TMTG) stock closed at $10.85 per share on November 17, marking a 32 percent drop over the past month and the stock’s lowest price since listing. The decline has been steady, with the share price falling from around $16 in late October and losing ground almost daily through mid-November.
The drop coincides with a string of political upsets for Trump and the Republican Party, including election wins for Democrats in New York, California, Virginia and New Jersey, and the release of more emails related to the Jeffrey Epstein case.
Newsweek has contacted TMTG for comment via email.
Why It Matters
The slump in TMTG’s share price highlights growing investor concerns surrounding the company at a time when Trump is dealing with a series of political setbacks. Because the firm’s fortunes are closely linked to Trump’s public and political standing, continued declines could affect its financial stability and future growth. The timing also shows how political developments can directly influence the performance of Trump’s business interests.
What To Know
Recent election results have rattled Republicans and raised doubts about the party’s footing heading into the 2026 midterms. In New York City, Assemblyman Zohran Mamdani defeated former Governor Andrew Cuomo—running as a Trump-aligned independent—to become the city’s first Muslim mayor. Democrats also notched wins in Virginia, where former Representative Abigail Spanberger easily beat Republican Lieutenant Governor Winsome Earle-Sears, and in New Jersey, where Representative Mikie Sherrill prevailed after centering her campaign on economic and public-safety concerns.
On the West Coast, California voters approved Proposition 50, a redistricting overhaul backed by Governor Gavin Newsom that could upend several GOP-held seats and strengthen Democrats’ chances of regaining the House. The string of losses prompted former White House strategist Steve Bannon to issue a stark warning on X, writing: “The midterms start tonight, and the warning signs are flashing.”
Meanwhile, the shutdown has also shaken voters’ confidence in Trump. The federal shutdown, which became the longest in history, saw thousands of federal workers furloughed, thousands of flights canceled, and public services experienced major disruption.
Amid the chaos, Trump’s approval ratings dropped, reaching some of their lowest levels of his second term. And pollster Nate Silver warned that the hit to his popularity may be here to stay.
“The longest government shutdown in U.S. history looks to be winding down. But Donald Trump’s heightened unpopularity might be here to stay,” Silver said in a blog post.
Adding to Trump’s challenges, divisions within his own party have emerged over the handling of the Jeffrey Epstein files.
The administration has resisted full disclosure for months, with Trump arguing that Democrats are exploiting the issue and insisting “only a very bad, or stupid, Republican would fall into that trap.” The stance has angered some Republicans, including Georgia Representative Marjorie Taylor Greene, once one of Trump’s strongest allies. Greene has thrown her support behind the bipartisan push to release the records, saying victims deserve answers and calling Trump’s approach “a huge miscalculation.”
Facing mounting pressure, Trump shifted course over the weekend, urging House Republicans to back the release of the documents. He wrote on Truth Social that “we have nothing to hide” and dismissed the issue as a “Democrat Hoax.” The House is scheduled to vote Tuesday on whether to compel the Justice Department to publish its remaining Epstein-related materials. If approved, the measure would move to the Senate and ultimately to Trump’s desk; he has said he will sign it.
That vote comes as lawmakers continue to release more previously sealed Epstein materials, including more than 20,000 pages of documents unveiled last week. Among them is a 2019 email to writer Michael Wolff in which Epstein claimed Trump was aware of his conduct, saying, “Of course, he knew about the girls as he asked Ghislaine to stop.” Trump has long denied any wrongdoing and maintains he cut ties with Epstein in the early 2000s.
