Shares in Trump Media slump after former president convicted in hush money trial

Published May 30, 2024 2:41 PM

By MICHELLE CHAPMAN
AP Business Writer

Shares of Trump Media & Technology Group, the owner of social networking site Truth Social, are slumping before the opening bell after former President Donald Trump was convicted in his hush money trial. A New York jury found Trump guilty of falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actor who said the two had sex. Shares fell 9% immediately Thursday in after-hours trading as news of the verdict emerged, and they’re down 5% early Friday.

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