Martha's net worth drops $85 million

The jury's guilty verdict deprived Martha Stewart of not only her credibility but of approximately $85 million. When she woke up this morning Stewart was worth about $420 million. When she goes to sleep tonight--assuming she can sleep--her net worth will be around $335 million. And her fortunes aren't likely to improve upon the markets' opening next week.

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Shares in her namesake firm Martha Stewart Living Omnimedia closed down 23% at $10.86 after Stewart was convicted of obstructing justice and lying about her sale of 4,000 ImClone shares.

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FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

FOR SUBSCRIBERSCornell rape allegation spotlights stringent New York state laws that have long drawn criticism

FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

FOR SUBSCRIBERSDecades-old march dispute reignites in Northern Ireland, threatening political crisis

The verdict is clearly a shock to Wall Street, which had bid Martha Stewart Living shares up by as much as 22% before trading was halted in the late afternoon. That indicates that traders expected the jury to go easy on the domestic diva.

Alas, things may get worse for the company that briefly made Stewart a billionaire. While it's not clear just how badly the company that bears her name will be hurt as a result of the bad publicity, shares of Kmart, which sells Martha Stewart-branded sheets, towels and paint, also traded down on the news, closing at $32.51. Clearly, investors expect the verdict to put a dent in those sales.