As citizens cast their votes on Election Day, the erratic price shifts characteristic of Trump Media & Technology Group’s shares persisted.

The parent company of Truth Social faced three trading halts due to extreme volatility, with shares closing down by 1%.

A significant part of Donald Trump’s wealth as the Republican presidential candidate is linked to his majority ownership in the company behind Truth Social. Forbes estimates that approximately $3.9 billion of Trump’s $6 billion net worth is represented by his DJT shares.

“The stakes are clear. If he loses, this could drop to zero,” stated Matthew Tuttle, CEO of Tuttle Capital Management, in an interview with YSL News. “If he wins, there’s potential for a surge at this level, but I’d advise selling into it. They still need a viable business model.”

Trading halts occur automatically when the price of a stock fluctuates dramatically.

Trump Media, trading under the DJT ticker, came close to hitting record highs last week as polls appeared to favor Trump. However, following a perceived rise in support for Vice President Kamala Harris, the stock saw three days of significant losses, before rebounding with a 12% gain on Monday.

“The fluctuations and back-and-forth actions indicate that this is a tight race, and unpredictability surrounds the outcome,” Tuttle commented.

Since Trump Media’s introduction on Wall Street nearly eight months ago, it has not only become a crucial source of the GOP nominee’s income but also a gauge of his political prospects, according to experts cited by YSL News.

“It serves as a bellwether for varying perspectives on the current presidential election,” stated Jay Ritter, a finance professor at the University of Florida. “It reflects not only differing opinions but also varying hopes.”

On Tuesday, Trump Media disclosed third-quarter revenue of $1 million and a hefty $19 million net loss. The company has reported losses exceeding $363 million during the first nine months of this year.

Trump’s financial interest in Trump Media is valued in billions on paper. He has expressed “absolutely no intention of selling” his nearly 115 million shares. He also indicated he may not consider running for president again in 2028 if he does not win this election.

In official filings, Trump Media highlighted Trump’s essential role in its branding, cautioning that its value “could decrease” if his public support wanes.

Trump Media has also identified Trump’s potential sale of DJT stock as a significant threat to its operations, noting that his divestment could lead to an overwhelming number of shares hitting the market, potentially driving prices down.

Market analysts suggest that Trump Media fits within the meme stock category, characterized by trading driven by factors unrelated to fundamental business metrics.

Led by former Republican Congressman Devin Nunes, Trump Media aims to become a “central hub for news, entertainment, and discussion.”

Despite its valuation of $6.8 billion, it remains relatively small compared to social media giants like Facebook, Instagram, TikTok, and Elon Musk’s platform X. On Truth Social, Trump has around 8 million followers, while he boasts 92 million followers on X.

“I haven’t seen anyone provide a solid rationale for why the company should be valued” this highly, Ritter pointed out.