markets

Trump media stock fell to its lowest levels since IPO

Shares of former president Donald Trump’s media company dropped to $16.98 on Wednesday, the lowest since it went public, wiping out all of its gains this year.

Trump Media & Technology Group went public on March 26 through a blank-check merger and spiked shortly after that, trading at $79.38 at its peak. The stock has since fallen by more than 70%, wiping out more than $4 billion from the company’s market cap. It’s worth about $3.4 billion now.

The lockup period will expire as soon as Sept. 19, which means that Trump will be able to sell his shares in a few weeks (unless the price drops below $12, which will push back that date to Sept. 25). With Trump holding a 58% stake in DJT, the potential for a flood of his shares to hit the market may be putting downward pressure on the stock.

The sell-off may have also been exacerbated by retail traders who wrestled with Trump’s return to X. In August, Trump talked to Elon Musk in a Spaces audio event that lasted more than two hours. Trump Media owns Truth Social, a rival of X.

Trump Media’s 69% Plunge Wipes Out Billions Before Lockups End

Trump Media’s 69% Plunge Wipes Out Billions Before Lockups End

The lockup period will expire as soon as Sept. 19, which means that Trump will be able to sell his shares in a few weeks (unless the price drops below $12, which will push back that date to Sept. 25). With Trump holding a 58% stake in DJT, the potential for a flood of his shares to hit the market may be putting downward pressure on the stock.

The sell-off may have also been exacerbated by retail traders who wrestled with Trump’s return to X. In August, Trump talked to Elon Musk in a Spaces audio event that lasted more than two hours. Trump Media owns Truth Social, a rival of X.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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