Truth Social Owner Tumbles After Trump Convicted

Media Company Loses Major Value

Public Company Status Now in Question

Shares of Trump Media Technology Group Corp (TMTG) plunged 65% late Thursday after a New York jury convicted former US President Donald Trump on criminal charges. The company, which owns the social media platform Truth Social, has seen its value plummet in the wake of the verdict.

TMTG, which was formed by Trump after he was banned from Twitter and other major platforms, became a publicly traded company just this week. However, its future is now uncertain following Trump's conviction.

Investors have expressed concerns about the company's ability to operate without its founder and major shareholder. Truth Social has also been criticized for its lack of moderation and its role in spreading misinformation.

The company has not yet commented on the verdict or its impact on its business.