Trump Media Plunges 11% as Democrats Sweep Congress

Trump Media & Technology Group (NASDAQ: DJT) plunged on Wednesday, November 4, 2026, falling as much as 10.6% to $5.32 in premarket trading after Democrats swept the U.S. midterm elections and took control of both chambers of Congress. The stock was the top trending ticker on Stocktwits even as the broader market rallied, making DJT one of the clearest election losers on Wall Street.

What happened to Trump Media stock?

DJT dropped as much as 7.2% in early premarket trade and was the top trending ticker on Stocktwits at the time, according to Stocktwits. Later premarket reports put the fall deeper: Benzinga, via TradingView, reported DJT tumbling 10.6% to $5.32, deepening a 55% slide this year. A separate market report put the shares down 7.4% to $5.51 in premarket trading, close to a 52-week low of $5.40, according to ADVFN / InvestorsHub.

The move reversed the previous session almost exactly. DJT had risen about 6% on Tuesday on pre-election optimism, Finbold reported, and that gain was largely handed back within hours of the results. On a yearly chart, Finbold put the stock down about 60%, trading near $5.95 against $13.82 on the same day last year, with the exact price varying by the time of each premarket snapshot.

Why is DJT falling when the wider market is rising?

The contrast is the story. Stocktwits reported U.S. equities rallying in premarket trade, with the SPDR S&P 500 ETF up 1.04%, the Dow-tracking DIA up 1.37% and the Nasdaq-100 QQQ up 1.09%, while DJT fell. The Associated Press called the Senate for Democrats late on Tuesday and the House early on Wednesday, Stocktwits said, ending unified Republican control of Washington for the final two years of President Donald Trump's term.

Trump Media, which runs the Truth Social platform, is widely traded as a proxy for the president's political fortunes, Stocktwits noted. When that political position weakened overnight, the proxy was sold first — even though nothing about the company's operations changed overnight. The same pattern hit the linked crypto asset: the TRUMP token fell 7.6% in 24 hours to below $1.50, Stocktwits reported, while Bitcoin rose more than 2% and crossed $78,000.

Why it's blowing up

Retail attention is intense. Stocktwits said retail sentiment around DJT fell to "extremely bearish" from "bearish" over the past day, with chatter at "high" levels, and DJT was its top trending ticker in early trade. ADVFN reported put-option volume running at about 13 times the expected level, a sign of heavy bearish positioning and hedging around the result. That combination — a famous ticker, a clear political catalyst and a falling price — is what turns a premarket drop into the morning's most-discussed trade.

Key facts

• Move: DJT fell 7.2% early in premarket trade, with later reports showing it down 10.6% to $5.32 (Stocktwits; TradingView / Benzinga).
• Catalyst: Democrats took control of both the Senate and the House in the November 3 midterms, with the AP calling the Senate late Tuesday and the House early Wednesday (Stocktwits).
• Reversal: The fall largely unwound a roughly 6% gain on Tuesday built on pre-election optimism (Finbold).
• Fundamentals in focus: Trump Media reported a net loss of $238.1 million in the second quarter of 2026 on revenue of just $1.7 million, Finbold reported.
• Also moving: The TRUMP token fell 7.6% in 24 hours to below $1.50, while Bitcoin rose above $78,000 (Stocktwits).
• Pending deal: Trump Media and fusion-energy company TAE Technologies filed a second amended S-4 registration statement with the SEC on November 3; the proposed merger still needs regulatory and shareholder approvals (Finbold).

What's next for DJT?

The next hard test is not political — it is financial. Trump Media is expected to report its third-quarter results next week, Finbold said, which will show whether Truth Social's audience is turning into revenue after a second quarter that produced $1.7 million of revenue against a $238.1 million net loss. The TAE Technologies merger also remains pending, and a Democratic-controlled Congress taking office in January 2027, as Finbold noted the new majority is expected to do, adds a new layer of political scrutiny that traders are now pricing in. None of that settles where the stock goes next: DJT has long traded on attention and politics far more than on its current revenue, and Wednesday's session showed both forces at once — maximum attention, in the opposite direction.

FAQ

Why did Trump Media stock fall on November 4, 2026?

DJT fell after Democrats swept the U.S. midterms and took control of both chambers of Congress. Because the stock is widely traded as a proxy for President Trump's political standing, the result triggered selling even as the broader market rose.

How much did DJT fall?

It dropped as much as 7.2% in early premarket trade, and later premarket reports showed it down 10.6% to $5.32. Prices varied by snapshot as premarket trading developed.

Did other Trump-linked assets fall too?

Yes. The TRUMP token fell 7.6% in 24 hours to below $1.50, according to Stocktwits, even as Bitcoin rose more than 2% above $78,000.

When does Trump Media report earnings next?

Its third-quarter results are expected next week, according to Finbold. The company's last reported quarter showed a $238.1 million net loss on $1.7 million of revenue.

Sources: Stocktwits, TradingView / Benzinga, Finbold, ADVFN / InvestorsHub. This article reports market news only and is not financial advice.