Shares of Trump’s communications group collapse on Wall Street

The shares of the media company donald trumpTrump Media and Technology Group, collapsed this Monday on Wall Street at a time when the former president of the United States and candidate for the White House faces a trial in New York.

The shares of TMTG, which controls the social network Social Truth of the president, lost 15.91% to $27.41 around 2:50 p.m. GMT, on the first day of the court process.

The valuation of DJT – the group’s symbol on Wall Street -, which reached about US$11 billion in its debut on March 26, has fallen by more than half since then.

On Friday, TMTG was worth $4.45 billion. Monday morning 3,700 million.

The criminal trial against Trump, the first in history against a former president of the United States, began this Monday in New York, in the middle of the election campaign.

The former president is accused of hiding payments to a porn actress to buy her silence for an alleged extramarital relationship during the 2016 campaign.

The judge investigating the case, Juan Manuel Merchan, of Colombian origin, began the trial after reading the charges against the 77-year-old Republican magnate.

“This is an assault on the United States. Nothing like this had ever happened“Trump said upon his arrival at the court where he will be tried for hiding a payment of $130,000 to the now former actress. Stormy Daniels to protect his 2016 campaign, which he ultimately won against Democrat Hillary Clinton.

For the Republican, almost certainly his party’s candidate for the presidential election on November 4, the trial is a “political persecution” orchestrated by the Democrats to prevent him from achieving his long-awaited dream of returning to the White House.

The former president is the main shareholder of TMTG, with almost 60% of the capital.