Trump’s social media company sees highly volatile trading on Election Day

Stocks in former President Donald Trump’s social media company saw such volatile price fluctuations on Election Day that trading was halted. 

Shares of Truth Social owner Trump Media & Technology Group, CNN Business reports, turned negative after soaring as much as 17% on Tuesday morning. After trading was halted due to volatility, the stock prices began to recover. The stock ended the day 1.16% lower than where it started. 

After the trading day ended, CBS News reports, Trump Media & Technology Group released its third-quarter results, which shows the company continues to lose money. Its revenue slipped 5.6% in the third quarter compared to a year earlier, which was an improvement from the second quarter, when its sales fell 30%. 

It’s not clear what caused the volatility, according to CNN, but the outcome of the presidential election will greatly influence the company’s standing.