Trump Media Stock Plummets Amid Bitcoin Transfer Controversy

Market observers are scrutinizing Trump Media & Technology Group Corp.'s (DJT) recent bitcoin transfer, which has left its stock lagging behind the broader U.S. market.

The company moved 2,650 bitcoins to Crypto.com on Friday, worth around $205 million, but claims it was simply a transfer and not a sale.

This move comes as Trump Media's first-quarter financial report showed a net loss of $405.9 million, with unrealized losses accounting for the majority of the losses.