Shares in Trump Media & Technology Group (NASDAQ:DJT) fell 6.5% on Thursday following the result of the New York trial in which the former president was found guilty of falsifying documents to cover up a hush money payment to a porn star.

The company, which is majority owned by Trump and is the parent of the social network Truth Social, was trading at $48.44 after the closing bell, having closed at $51.12 during Thursday’s market hours.

The jury deliberated for two days before finding Trump guilty of all 34 of the counts that he faced. He will be sentenced on July 11. His legal team are expected to appeal the verdict. Shares in Trump Media have been very volatile. In the IPO, the former president’s supporters jumped on the shares, sending them soaring –  on March 26 they closed at $79.38. Their lowest point was on April 16 when they traded at $22.84.