Stocks and cryptocurrencies linked to President Trump are in a deep slump, leaving some of the president’s biggest fans with steep losses.
Shares of Trump Media & Technology Group DJT 4.25%increase; green up pointing triangle, which operates the president’s Truth Social platform, have tumbled 75% since Trump’s inauguration. Digital “meme coins” named for Trump and first lady Melania Trump are down 86% and 99% since inauguration day, respectively. And one of the Trump family’s crypto ventures, a token called World Liberty Financial, has dropped roughly 40% since its September launch.
President Trump’s 2024 campaign inspired a wider investment thesis, with pro and amateur traders alike piling into areas such as healthcare and prison stocks as well as cryptocurrencies—assets they expected to fare well during a second Trump administration. But one year into the president’s return to the White House, some of the so-called Trump trades have struggled.