Trading in Trump's media stocks repeatedly came to a halt on Election Day after sudden losses

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The parent company of Donald Trump's Truth Social halted trading several times on Election Day.

Shares of Trump Media & Technology Group Corp – which trades as DJT – were halted on Tuesday due to volatility as the former president struggles in the election to defeat Vice President Kamala Harris.

Trump owns almost 57 percent of all shares in the company.

Trading was paused for a few minutes at 2:48 p.m., then again at 2:55 p.m. and again at 3:02 p.m., the New York Stock Exchange shows.

Shares were trading around $37 early Tuesday morning when they began to fluctuate throughout the day. After reaching a high of $40 midday, shares quickly plunged to $32 later in the day. It ended Tuesday down more than 1 percent at $33.94.

Some financial experts said the turbulent market was probably not due to voters' motivations. The polls show the race is deadlocked.

“The initial surge was speculative and driven by hopes of a Trump victory,” said Kevin Thompson, founder and CEO of 9i Capital Group Newsweek.

However, Thompson cautioned, “This trading activity reflects less election predictions and more event-related volatility… Proponents may be offering the stock in hopes of a Trump victory, but overall it is the usual volatility associated with a major event.” We could have one “We will see a market rise if Trump wins, or a small sell-off if Harris wins.”

Others said observers shouldn't be too metaphorical about the Trump majority's volatility on Election Day, underscoring that it's not unusual for this particular market to see volatility.

Last week, days after Trump's rally at Madison Square Garden, trading on DJT was halted five times. According to Yahoo Finance, Trump Media & Technology Group suffered a 20 percent decline in five days in the last week of October.

Last Wednesday alone, stocks fell 22.3 percent, meaning Trump lost about $1.3 billion of his net worth that day alone. It was the worst daily loss since the company went public in March.

“Markets are very thin and choppy, particularly with DJT,” Steve Sosnick, chief strategist at Interactive Brokers, told CNN.

Matthew Tuttle, CEO of Tuttle Capital Management, advised everyone not to read too much about the market's volatility and what could be the harbingers of the outcome of the presidential race. Tuttle told CNN: “It is extremely early. I don't think we're seeing smart money here. We see people throwing darts at a board.”

Despite the fluctuations, the company was valued at over $10 billion last week after its shares more than quadrupled since the end of September – meaning it was worth more than X, the social media giant owned by the vociferous Trump supporter Elon Musk.