Shares in the Truth Social parent, which is majority owned by the president-elect and trades under the ticker DJT in a reference to his initials, fell 4.8% to $26.37 in the premar

After Donald Trump's presidential victory, shares of Trump Media soared more than 30% before drifting back down.

Shares of Trump Media & Technology (NASDAQ: DJT) were soaring last month in seeming anticipation of a Trump victory in Tuesday's election as the former president's poll numbers generally improved over the course of the month, as did his chances of victory, according to betting markets.

Shares were trading at about $37 early on Tuesday morning when they started fluctuating throughout the day. After shares hit a high of $40 midday, they quickly plunged to $32 later in the day. It ended Tuesday down more than 1 per cent at $33.94.

Shares of Trump Media & Technology Group extended a volatile stretch of trading for the company that has become a measure of investors’ moods ahead of Election Day.

Analysts haven't set any long-term estimates for Trump Media yet, but the stock is absurdly valued relative to its past sales. With an enterprise value of $5.77 billion, it trades at over 1,440 times last year's sales. Therefore, it's a meme stock that could easily plummet more than 90% and still be overvalued.

Trump Media’s stock price increased by nearly 16 percent to $32 per share on Friday, as investors reacted to the news.

The parent company of Truth Social continues to see volatile trading even with Trump returning to the White House. Some investors may want to cash out while they can. One of the most volatile stocks of 2024 is undoubtedly Trump Media & Technology Group Corp.

Shares of Trump Media & Technology Group rose on Friday after U.S. President-elect Donald Trump said he had no intention of selling his shares in the company, which owns his Truth Social media platform.