"Trump's Truth Social Struggles as Media Stock Tanks"

1 min read
Source: CNBC
"Trump's Truth Social Struggles as Media Stock Tanks"
Photo: CNBC
TL;DR Summary

Donald Trump urges his followers to support his social media app Truth Social as its parent company's stock continues to decline, with the stock price falling more than 50% since its debut. Despite the stock's slide, Trump Media still boasts a market capitalization of over $4.2 billion, and Trump, who owns over 57% of the company's stock, is poised to reap a financial windfall. The company's CEO, former Republican Rep. Devin Nunes, has suggested plans to add video streaming capabilities to Truth Social and make it a hub for "canceled" channels and documentaries, but neither Trump's posts nor Nunes' claims have yet to halt the stock's decline.

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