JUST IN: Trading of Trump’s Media Stock Halted Repeatedly After Sharp Selloff Ahead of the Election

Trading in former President Donald Trump’s Trump Media stock was repeatedly halted on Tuesday amid a sudden loss on the day of the presidential election.

CNBC and others reported that trading was halted three times on Tuesday for Trump’s media group — which trades under DJT. Trading was first halted for five minutes after a $40 value suddenly fell to $35.51. Less than two minutes after trading resumed, it was halted again as the trend continued negative. Shares were at $34.35 after trading was halted a third time.

Trump previously saw a double digit bump in his media stock going into Election Day. The value of the company, which is majority owned by Trump, is largely seen as being closely tied to his chances of winning the presidential election against Vice President Kamala Harris, hence some of the quick bumps and drops on Tuesday as votes roll in.

CNBC reported:

Shares were last down about 4% midday after being halted. Action in Trump Media was heavy, with the stock on pace to more than double its average daily trading volume of the last 30 days. At one point in Tuesday’s session, the stock traded about 15% higher.

Year to date, Trump Media, which is majority-owned by Trump, has jumped nearly 90%. However, it has struggled recently, as Vice President Kamala Harris appeared to gain momentum heading into Election Day. Shares have plummeted 36% over the past week despite a 12% jump on Monday.

Fox Business’ Charles Payne reported DJT stock was down 4% just before trading was halted, but it was up 14% before that. Payne said expect the stock to be “the most volatile” it’s been during election week.

According to the New York Stock Exchange, the first halt on DJT trading occurred at 2:48 p.m. Another occurred at 2:55 and another followed at 3:02. The halts are triggered by a mechanism responding to unusual volatility in a stock. Trading resumed a few minutes after each pause.

Watch above via Fox Business.