On Thursday, economist Peter Schiff said Trump Media & Technology Group Corp.’s (NASDAQ:DJT) steep share-price decline should serve as a cautionary tale for investors betting on hype-driven stocks rather than business fundamentals.
Schiff Warns Trump Media's Stock Collapse Reflects Risks Schiff criticized Trump Media after its shares fell 6.12% to a record closing low of $7.06 on Thursday, extending a prolonged decline.
In a post on X, Schiff wrote, "$DJT is down another 6% today, hitting a new all-time low.
It's down 60% in the past year.
The stock is down 96% from its all-time high." Calling the decline "yet another example of the dangers of jumping on bandwagons to buy overpriced assets," Schiff added that it is "a harbinger of what's to come." $DJT is down another 6% today, hitting a new all-time low.
