Trump Media Stock Plunges 22%...Trump's assets evaporate by KRW 1.8 trillion

Former President Trump's net worth also fell by 1.8 trillion won as shares of Trump Media, considered a "presidential theme stock" related to former President Donald Trump, the U.S. Republican presidential candidate, plunged more than 20% on the 30th local time.

The stock price of Trump Media, the parent company of Truth Social, a social network service founded by former President Trump, recently hit $51.51, but fell 22.29% to close at $40.03 on the same day alone.

The drop is the highest since Trump Media's detour listing on the New York Stock Exchange in March.

CNN said the background of the plunge in stock prices is not clear and Trump Media has not made major announcements regarding the fall in stock prices, but some explain the plunge in stock prices due to technical factors or loss of momentum as a meme stock.

Trump Media jumped 325% in a month from the 23rd of last month to the previous day, as stock prices soared amid the prospect of former President Trump's election.