Trump Media Shares Plunge 24.5% After Democratic Sweep, Closing at a Record Low of $4.49

Shares of Trump Media & Technology Group, the parent company of Truth Social, fell sharply on November 4 after Democrats won control of both chambers of Congress in the 2026 midterm elections. The stock, which trades under the ticker DJT, dropped 24.5% to close at $4.49, a record low. Investors are concerned that a Democratic-controlled Congress could increase scrutiny of businesses linked to President Donald Trump and reduce the political influence premium that has helped shape the company’s market value.

The Washington Post reported that DJT shares were down more than 13% in early trading, when they reached about $5.10. The decline accelerated during the session, and the stock finished at $4.49. Those figures represent different points in the trading day: the $5.10 price was an intraday snapshot, while $4.49 was the closing price. Yahoo Finance’s market report also recorded the 24.5% closing decline.

Election results raise political and regulatory concerns

Trump Media’s best-known business is Truth Social, where Trump frequently posts political messages and policy announcements. Democrats’ control of both chambers will give them committee chairmanships, subpoena authority and greater ability to investigate the administration and businesses connected to the president. Democratic lawmakers have said they intend to examine the Trump family’s business dealings, potential conflicts of interest and the company’s Truth Social data products.

The Washington Post reported that Trump holds about 41% of Trump Media through a trust managed by his eldest son, representing approximately 114 million shares. At the November 4 closing price, that stake was worth roughly $600 million, down from a value approaching $4 billion when the stock was near its 2024 highs. The decline reduces the market value of the trust’s holdings, but there is no public indication that Trump has sold the shares.

A long-running decline and limited operating revenue

The selloff did not begin with the election. The Washington Post said Trump Media shares had already lost more than 60% of their value during 2026. The company has faced questions about Truth Social’s user activity, advertising revenue and its ability to build sustainable businesses beyond the social platform.

Trump Media has pursued several diversification efforts, including the Truth+ streaming service, Truth.Fi financial products, the Truth API data-licensing business and a proposed merger with fusion-energy company TAE Technologies. The company has presented those projects as ways to create additional revenue and expand beyond its core social-media business.

Its second-quarter 2026 financial results showed revenue of about $1.7 million, up from $0.9 million a year earlier, but a net loss of $238.1 million. The company said much of the loss reflected unrealized declines in the value of cryptocurrency and securities holdings. The net loss should therefore not be interpreted as an equivalent amount of cash spent on ordinary operations. The figures appear in the company’s SEC filing and earnings announcement.

Congressional investigations could affect the valuation

Investors are also considering whether a Democratic majority will examine Trump-related businesses more aggressively. TipRanks reported that Democratic lawmakers have signaled plans to investigate business dealings involving the president and his family. Reuters previously reported that financial institutions and trading firms had signed up for Truth API access, with subscriptions potentially costing as much as $100,000 per month.

The data service provides customers with faster access to public posts from influential Truth Social accounts, including Trump’s. Because his posts can move markets, the business may attract questions about transparency, fairness and conflicts of interest. Those questions do not establish that the company has broken the law, and congressional scrutiny does not automatically mean the service will be shut down.

The share price also reflects factors beyond the election. The company’s small revenue base, large reported losses, exposure to volatile digital assets and uncertain prospects for the TAE merger all affect how investors value the business. Attributing the entire one-day decline to the Democratic victory would overlook those longer-running concerns.

A record low does not determine what comes next

DJT closed at $4.49 on November 4, down 24.5% for the day and at a record low. The value of Trump’s trust-held stake fell with the share price, but there is no public evidence that he sold shares during the decline. The new Congress is scheduled to begin work in January 2027, and the scope and outcome of any investigations remain unknown.

The confirmed developments are the sharp post-election selloff and the company’s previously reported financial results. Whether the stock can stabilize will depend on the company’s ability to grow revenue, the progress of its proposed merger, the practical impact of congressional oversight and investors’ assessment of the risks attached to Trump-linked assets. The election has changed the political backdrop, but it has not resolved the company’s underlying business challenges.