Shares of Trump Media & Technology Group recovered in pre-market trading on Friday following an initial sell-off after former President Donald Trump was convicted in his hush money trial.

The guilty verdict in the hush money case has had a significant impact on Donald Trump's net worth following a 9% drop in the shares of Trump Media, the former president has reportedly lost approximately $500 million.

Trump Media and Technology Group (TMTG), the owner of former President Donald Trump's social media platform Truth Social, has called on Louisiana's financial regulator to investigate alleged irregularities in its share trading.

Truth Social, the social media platform launched by former President Donald Trump's media company, is struggling to maintain its US user base.

Trump Media & Technology Group, the owner of former President Donald Trump's social media company Truth Social, disclosed that it had coordinated with the Financial Industry Regulatory Authority (FINRA).

In its first quarter since going public, Trump Media & Technology Group, the company that owns Truth Social, reported a concerning loss and revenue of less than $1 million.

Trump Media has postponed its quarterly filing due to a change in auditors, while simultaneously witnessing a surge in stock value, adding billions to the former president's stake.

Financial markets have focused on Trump Media & Technology Group, the parent company of Truth Social, and its spectacular stock rise, reflecting investor mood and political dynamics.

A federal jury in New York convicted an investor on Thursday of insider trading in a shell company's shares ahead of its October 2021 merger announcement with Trump Media.

Shares of Trump Media soared over 10% on Monday, reaching levels not seen since late March and boosting the net worth of former President Donald Trump to an all-time high.