Trump Media shares fall more than 10%, company says Truth Social to launch TV streaming
Trump Media
shares fell by more than 10% on Tuesday morning after the company announced its Truth Social platform is moving to launch a live TV streaming platform.
The plummet of DJT shares came a day after they closed more than 18% lower.
Trump Media’s majority shareholder is former President Donald Trump, who holds nearly 60% of its stock. Trump is in court in New York for jury selection in his criminal hush money case.
The company’s market capitalization has decreased by more than $5 billion since its stock began public trading on March 26 after a merger with shell company Digital World Acquisition Corp.
Trump Media shares that day opened at more than $70 and soared to nearly $80.
Shares were selling for $25.11 as of 10:11 a.m. ET Tuesday.
Earlier Tuesday, Trump Media in a press release said it “has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network.”
https://www.cnbc.com/2024/04/16/trum...-platform.html