SARASOTA, Florida, September 1, 2026, 15:22 EDT — Trump Media dropped 7% on Tuesday, but the firm’s $2.5 billion market capitalization still stands 147% above the book value.
- Shares of Trump Media & Technology Group Corp. NASDAQ:DJT dropped 7.0% to $9.09 as of 15:22 EDT.
- The change reduced Monday’s equity value by approximately $189 million, with about $2.53 billion remaining.
- The valuation stayed 147% higher than June book equity and roughly 378 times second-quarter revenue on an annualized basis.
- Operating cash usage over six months totaled $13.7 million, and $964.9 million in notes are subject to a November put right.
Shares of Trump Media dropped 7.0% to $9.09 on Tuesday. Trading volume totaled 2.27 million shares as of 15:22 EDT, with the stock moving between $9.00 and $9.58 during the session Yahoo Finance.
The drop wiped out nearly $189 million from the company’s market value on Monday. However, Trump Media’s valuation remained close to $2.53 billion, equalling 2.47 times its book equity as of June.
This presents a significant challenge for the operating business. The market capitalization was roughly 378 times the annualized revenue from the second quarter. That annualization reflects a straightforward run rate rather than a projection.
DJT intraday slide
As of . One-minute observations; selected labels shown.
Source: Yahoo Finance intraday chart. Values are delayed market data, not a live stream.
The stock began trading at $9.53 and declined during the day. It hit a high of $9.58 and a low of $9.00. Monday’s closing price stood at $9.77, with a volume of 2.54 million shares company market data.
Revenue for the second quarter increased 89% to $1.67 million. The net loss expanded to $238.0 million, compared to $20.0 million previously. Losses from digital assets and investments made up $188.4 million of the quarterly deficit SEC filing.
The reported accounting loss exaggerated actual cash usage. The business used $13.7 million in operations in the first half, an increase of 84% compared with the same period last year.
What backed $2.02 billion of June assets
Balance-sheet mix at June 30, 2026
Source: Trump Media Form 10-Q. Percentages may not sum to 100 because of rounding.
Balance-sheet valuations continue to fluctuate. As of June 30, digital assets together with equity securities accounted for 59.4% of total assets. By the end of the quarter, their fair values had decreased.
Convertible notes present a more immediate challenge. Investors can ask for repayment in cash on November 30. As of June, the carrying value stood at $964.9 million. The conversion price is roughly $34.72 per share, significantly higher than Tuesday’s closing price.
The company’s leadership is highlighting recurring data revenue as part of its strategy. Interim CEO Kevin McGurn stated that the number of Truth API customers is currently “in the mid-teens now, and we’re climbing.” He did not provide information about contracted revenue SEC-filed interview transcript.
The data product provides low-latency access to curated Truth Social posts. McGurn stated it delivers approximately a 50-millisecond speed advantage. President Donald Trump issued new Iran warnings via the platform on Tuesday, amid a turbulent session for oil and equities Associated Press.
DJT valuation still sits above reported assets
Equity market value at 15:22 EDT versus June 30 balance sheet
Sources: Yahoo Finance price at September 1, 2026, 15:22 EDT; Trump Media Form 10-Q. Annualized revenue multiplies Q2 revenue by four and is not guidance.
The company continues to work toward its planned merger with TAE Technologies. McGurn stated that TAE is finalising audits ahead of an S-4 submission. Closing conditions and shareholder consent are still pending.
Risks: The valuation is reliant on securing new revenue and successfully closing deals. Shifts in crypto and equity prices may rapidly impact the reported book value. Liquidity could also be limited by the November note put.
The selloff on Tuesday narrowed the premium, yet it remains. Most of what investors are paying reflects future optionality. Upcoming indicators include API revenue, merger filings, and the note decision.
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