Shares of Donald Trump's media and technology firm fell as much as 12% on Monday, extending a selloff that has now reduced the value of his stake in the operator of Truth Social to $2.9 billion.

After its strong debut in late March, investors have soured on Trump Media & Technology Group after the company disclosed millions of dollars in losses earlier this month and said it would struggle to meet its financial liabilities.

Key Takeaways

1. Donald Trump's media and technology firm, Trump Media & Technology Group, saw its shares fall 12% on Monday, reducing the value of his stake in Truth Social to $2.9 billion.

2. The company's stock closed 8.4% lower at $37.17, down about 40% so far in April, from a record high of $79 during its debut on March 26.

Brief Context

The declines in Trump's stake value come as the company faces financial challenges and struggles to meet its liabilities. The market value of Trump Media & Technology Group is now below the valuation of Trump's stake, which was around $6 billion last month.