Shares in the parent company of Trump’s social media network Truth Social fell 17 percent at the start of trading and reached a record low on Wednesday. As of midday on Wednesday, the company’s shares were still trading about 13 percent lower at $16.19. In March, the price was still at $66 and last year the share reached its high of $79.38.

Trump Media’s plunge is likely tied to Trump’s performance during the debate with Harris on Tuesday, where the vice president was able to get under his skin by mentioning the size of crowds at his rallies, his reputation with U.S. military and foreign leaders, past bankruptcies and his felony conviction. On New Zealand-based online political and financial market PredictIt, Kamala Harris was able to outperform Trump as bettors became more confident that she would win the upcoming presidential election.

Trump Media’s share price decline on Wednesday is the latest example of how closely the company’s value is tied to the former president. The stock shot up 30 percent after Trump survived an assassination attempt and again shortly after Trump’s first debate with President Joe Biden.

But since Biden stepped down and Harris took his place in the presidential race, Trump Media shares have lost more than 50 percent of their value.

The Trump Media share price crash is bad news for Trump, who owns almost 60 percent of the company and whose stock value has already fallen by $4 billion. He lost another $260 million in Wednesday’s crash, meaning the book value of his shares is now around $1.9 billion.

Trump’s stocks are suddenly worth a lot less, just as the date approaches when he will get the green light to sell, although he has not yet confirmed that he will definitely do so. Due to a 180-day blackout period for company insiders, Trump is prohibited from selling stocks until the end of September, although it could be as early as next week.

Selling some of his billion-dollar stocks could help Trump, whose legal bills are piling up as he faces more criminal charges. Last week, a judge postponed sentencing in Trump’s so-called “hush money trial” until after the presidential election in November.