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The
Republican presidential candidate for this year's election owns
a majority stake in TMTG, the parent of his social media
platform Truth Social. The company also provides a way for Trump
supporters to bet on his resurgence as a political figure.
The 12-member New York jury pronounced Trump guilty on all the
34 felony counts he faced at the end of a five-week courtroom
presentation that featured explicit testimony from porn star
Stormy Daniels, making him the first U.S. president to be
convicted of a crime.
The broader market showed little impact from the verdict.
Neither a criminal conviction nor a prison sentence will affect
Trump's eligibility to become president if elected.
"On balance, it is marginally negative for Trump (galvanizing
his base) in this 'least important' of his four criminal cases,"
said Grace Fan, managing director of global policy research at
TS Lombard.
Trump's net worth is tied to his stake in TMTG. He owned 64.9%
of the company as of April 26.
The firm was valued at $9.2 billion as of last close. Earlier
this month, TMTG said its quarterly net loss widened to $327.6
million, from $210,300 the year before.
(Reporting by Medha Singh in Bengaluru; Editing by Pooja Desai)
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