Shares of Trump Media Technology Group (NASDAQ: DJT) jumped 5% overnight but fell 8% at the open Friday following the conviction of Donald J. Trump in a New York felony case. Investors are focused on the headlines, but the implications for the business are unclear.

Trump Media is the parent of Truth Social, a social media platform championed by the former president as an alternative to what was then known as Twitter. Trump has remained one of the highest-profile users of the platform, though the former president is not a named executive and is not on the board.

Late Thursday, a Manhattan jury found Trump guilty on 34 counts of falsifying business records related to hush money paid to Stephanie Clifford, a porn star known professionally as Stormy Daniels, during the 2016 presidential campaign. Trump is scheduled to be sentenced on July 11, and it is unclear at this point whether he will receive a prison sentence for the offensives.

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Source Fool.com