NEW YORK, Aug 20 (Reuters) - Shares of Trump Media &

Technology Group ( DJT ), which is majority-owned by former U.S.

President Donald Trump, sank to record lows on Tuesday,

following the Republican presidential candidate's recent return

to rival social media platform X.

Trump Media ( DJT ) shares dropped to as low as $21.33, down more

than 4%. The stock was last down 1.8% at $21.84, on track for an

eighth consecutive session of losses.

Trump's dwindling lead in polls and election betting

markets in recent weeks has also hit the stock, which has been

seen by some retail traders as a bet on whether Trump would win

a second term.

The stock had reached an all-time high of $79.38 during

their Nasdaq debut on March 26 following a merger with

blank-check company Digital World Acquisition Corp.

Earlier this month, Trump Media ( DJT ) - whose main asset is the

Truth Social app - reported a quarterly loss of $16.4 million

and revenue of just $837,000. The company has a market value of

about $4.3 billion, down from over $8 billion earlier this year.

Trump began posting on the X platform last week for the

first time in nearly a year, coinciding with an interview with

owner Elon Musk.

Trump in recent weeks has lost his sizeable lead in

polls against Vice President Kamala Harris, the Democratic

candidate.

With 78 days to go before the Nov. 5 vote,

contracts

for a Harris victory are trading at 56 cents, with a

potential $1 payout, on the PredictIt politics betting platform.

Trump contracts are at 46 cents, down from as much as 69

cents in mid-July.

(Reporting by Chibuike Oguh in New York)