Following Donald Trump's conviction in the hush-money trial, Trump Media shares fell.

After the former president is found guilty on all 34 counts, stock prices drop by as much as 15%.Trump's social media company, Trump Media & Technology Group, had a sharp decline in stock value after the former US president was found guilty in his hush-money trial.The company's shares, which are traded under the ticker "DJT," dropped as much as 15% during Thursday's extended trading following the conviction of Trump on all 34 felony counts of fabricating company records.Although the shares turned around during the day, they were still down almost 9% in the early evening.Since its launch, Trump Media's stock has fluctuated greatly, evoking analogies to meme stocks like GameStop and AMC Entertainment Holdings that are renowned for their violent price swings.In March, Truth Social's parent company had a spectacular launch, rising as much as 59 percent on the first day of trading.Since then, the stock has experienced volatility, including a one-day double-digit decline in April following Truth Social's announcement of its intention to enter the streaming market.

Trump Media's $9 billion market valuation is largely believed to be predicated on the steadfastness of Trump's fans, despite the company reporting a $327.6 million net loss in the first quarter.Trump's personal fortune is greatly impacted by major fluctuations in the stock price because he owns 65 percent of the company's shares.