Shares of Trump Media & Technology Group recovered in pre-market trading on Friday after an initial sell-off after former President Donald Trump received a conviction over his hush money trial, per AP News.

Recently, Trump Media shares (DJT) dropped 9% in after-hours trading. This was on Thursday, May 30, when a New York jury found Trump guilty of falsifying business records in a scheme to influence the 2016 election through hush money payments to a porn actor.

Since its debut in late March, Trump Media's stock has been notably volatile, often experiencing significant swings as small investors attempt to capitalize on its momentum. 

The stock has tripled in value this year, with dramatic daily fluctuations, peaking at nearly $80 during intraday trading on Mar. 26. 

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Donald Trump's Trial on Trump Media's Shares

In filing with the U.S. Securities and Exchange Commission before going public, Trump Media cautioned investors about the potential negative impact of Trump's numerous legal challenges.

Earlier this month, VCPost reported that Trump Media reported a loss of over $300 million for the first quarter, reflecting $311 million in non-cash expenses related to its merger with Digital World Acquisition Corp.

Adding to its challenges, Trump Media recently dismissed its auditor, BF Borgers, after federal regulators charged the firm with fraud. This followed the company's history of changing auditors multiple times within the past year.

As of the moment, Trump was charged with 34 counts of falsifying business records, connected to an alleged scheme to conceal potentially damaging stories during his 2016 presidential campaign. 

As for the former President's statement, Trump's legal team remains tight-lipped on the recent conviction and has since defended that the payments to Cohen were for legitimate legal services.

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