Cronos Group Inc. Common Share

Why Trump Media Stock Just Sank 9.4%

Trump Media & Technology Group stock dropped 9.4% after unwinding its partnership with Crypto.com. The company scrapped plans for a digital-asset treasury company as the value of Cronos tokens collapsed from $0.20 to $0.047. Trump Media still holds crypto assets including Bitcoin and has taken substantial paper losses. With only $3.7 million in revenue against $530 million in losses over the past year, the company's $2.8 billion market cap appears disconnected from its fundamentals.