Trump Media (NASDAQ: DJT) stock saw substantial sell-offs in Tuesday's trading. The company's share price closed out the daily session down 7.5% and had been down as much as 11% earlier in the day's trading.

Trump Media (NASDAQ: DJT) stock recorded huge gains across 2024's trading. The company's share price ended the year up 94.9%, according to data from S&P Global Market Intelligence. Meanwhile, the S&P 500 index's level climbed 23.

Trump Media & Technology Group (NASDAQ: DJT), which owns the social media platform Truth Social, went public by merging with a special purpose acquisition company (SPAC) on March 26, 2024. Its stock opened at $70.

The Truth Social operator's shares, which sometimes move on traders' viewpoints regarding Trump's political fortunes, have more or less treaded water since early December. Now, with Trump set to be inaugurated for a second time next Monday, those traders may once again be looking to buy ahead of a big event.

Trump Media has for the most part been a speculative investment. The stock could often be viewed as a gauge as to how likely it was that the former president would win the next election. When hopes were high, the stock was soaring. When there was more apprehension, the stock wasn't doing so well.

Shares of Trump Media jumped more than 20% Monday, marking the stock's best day since Trump's Madison Square Garden campaign rally in October. The surge comes one week before President-elect Donald Trump’s inauguration,