Presidential hopeful Donald Trump might call the U.S. a "failing" nation. But it's his own stock that's falling apart — as the S&P 500 rises.
Shares of Trump Media & Technology plunged 75% from the high it hit this year on March 27. That translates into a brutal $9.8 billion loss for investors who piled into the money-losing company. That tally is based on the company's current number of shares outstanding, based on an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge.
Even giant ETF investors like Vanguard and BlackRock are absorbing some of the losses.
And the pain has only intensified upon the entrance of Vice President Kamala Harris into the race on July 21. Since then shares plunged 54%. Just since Harris' announcement to run, Trump Media & Technology investors lost $3.7 billion.
And the debate only cost Trump investors more still.
"Betting markets have essentially declared the debate a victory for Kamala Harris. According to aggregated betting market data from ElectionBettingOdds.com, a few minutes before the debate began Trump was marginally favored to win in November with a 50.6% chance versus a 47.4% for Harris," said Bespoke Investment Group. "Today, those odds have essentially flipped with Harris's odds rising to 51.7% versus 47% for Trump."
Who's Taking The Hit?
Donald Trump is the biggest loser from his namesake company. He alone has lost $5.7 billion from the stock's peak and $2.2 billion from Harris' entrance into the race.
Trump is the largest shareholder, sitting on nearly 59% of the company's shares outstanding. But that means other investors still hold the bag for the remaining 41% of losses.
Among them are United Atlantic Ventures, which owns nearly 3.9% of the company. That fund is down $377 million from the high.
But don't think it's just someone else's problem. Major fund companies own some of this failing stock, too.
Vanguard And BlackRock Get Hit, Too
Vanguard and BlackRock are the fourth and fifth largest owners of the Trump stock. Luckily, the positions are small.
Vanguard owns a 1.5% stake. Much of that's presumably held in its Vanguard U.S. Momentum Factor ETF, says ETF.com. But thankfully Trump's stock is less than 0.1% of the fund. Nonetheless, the value of Vanguard's position is down $144 million from the high.
Meanwhile, BlackRock's iShares Russell Mid-Cap Growth ETF owns Trump stock shares. All told, BlackRock owns 2.2 million shares or 1.1% of the company. The value of that stake is down nearly $110 million since then.
'Failing Nation?'
Given the big losses suffered on the stock, some investors in Trump Media & Technology are feeling the pain. But with the S&P 500 as a guide, the U.S. is hardly failing.
Shares of the benchmark index of U.S. companies are up nearly 7% while Trump's stock tanked 75% since March 27. The S&P 500 is only about 2% shy of an all-time high.
So who's failing?
Biggest Losers From Trump Media & Tech
| Owner | % outstanding owned | Loss from peak ($ millions) | Loss from Harris entrance ($ millions) |
|---|---|---|---|
| Donald Trump | 58.9% | -$5,754 | -$2,170 |
| United Atlantic Ventures | 3.8% | -377.3 | -142.3 |
| Patrick Orlando | 3.8% | -371.1 | -139.9 |
| Vanguard | 1.4% | -144.4 | -54.5 |
| BlackRock | 1.1% | -109.5 | -41.3 |
