Trump Media and Technology Group Corp. on Friday afternoon reported a loss of more than $16 million for the June quarter, dwarfing its revenue in the same period.
Trump Media, the social media company whose majority shareholder is former President Donald Trump, on Friday reported a net loss of more than $16 million for the most recent financial quarter. Trump Media, which owns the Truth Social app often used by the former president, also reported lower revenues for the quarter ending June 30, compared to the same period last year.
Donald J. Trump's social network is increasingly relying on a niche of the ad market that caters to hard-core Trump fans and Christian conservatives for revenue.
The Kamala Harris and Donald Trump presidential campaigns are promoting dueling portraits of newly announced Democratic running mate, Minnesota Gov. Tim Walz. Harris praised Walz's character and his working-class background, describing him as a champion for the middle class with a track record of success.
Although meme stock mania settled down after Roaring Kitty woke the internet chatroom favorites from their slumber, it doesn't mean these stocks still don't have a large, passionate following. The so-called apes just haven't been able to circle the wagons again around the biggest names to drive their shares higher.
Trump Media & Technology Group (NASDAQ: DJT ) is a social-media business, but Trump Media stock moves with Donald Trump's political fortunes. Plus, DJT stock will have a strong connection to cryptocurrency, and particularly Bitcoin ( BTC-USD ).
Trump Media & Technology Group (DJT) shares jumped over 7% Friday after the operator of former President Donald Trump's Truth Social said it is launching a new streaming TV service.
Trump Media & Technology Group (NASDAQ: DJT ) stock is in the red today despite the start of a phased rollout of the social media platform's linear streaming platform, Truth+. DJT stock has now shed about 13% during the past month.
Trump Media said it has started rolling out a TV streaming service for the social media platform Truth Social. The stock price of the company, which trades as DJT, rose after the attempted assassination of majority shareholder Donald Trump, but since then had dropped before the announcement.
Trump Media stock has been directionless since January. Assuming that Trump Media stock will rise on a Trump presidential victory is a risky proposition.
Trump Media Technology (NASDAQ: DJT ) stock is particularly sensitive to political news. After a bump following the biden announcement DJT stock has returned to its post-announcement numbers.
Donald Trump news is plentiful, but Trump Media is silent. The worst part of the silence concerns the 2nd quarter earnings report.