Trump Media shares slump as Musk-Trump feud over tax-cut bill intensifies
ReutersJun 5, 2025 5:28 PM
Shares of U.S. President Donald Trump's social media firm Trump Media and Technology DJT.O fall 4.2% to $20.97
Trump lashes out at Elon Musk, saying he was "disappointed" by the billionaire's public opposition to his sweeping tax-cut and spending bill
Musk has been a powerful Trump ally, spending nearly $300 million to support Republicans in the 2024 election and then overseeing Trump's Department of Government Efficiency
DJT also says it filed initial registration statement with the U.S. Securities and Exchange Commission for its Bitcoin ETF
DJT shares slipped more than 17% last week after company said it will raise about $2.5 billion to invest in bitcoin as it looks to diversify revenue
DJT shares down ~38.9% YTD
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