Social media stocks to sell aren't just a passing thought anymore. Over the past few years, we've seen how social media has played second-fiddle to other cutting-edge technologies in the investing world.
Trump Media & Technology Group (NASDAQ: DJT ), typically shortened to Trump Media, is a target of controversy and constant debate. Trump Media stock is sometimes labeled as a meme stock because of the attention former President Donald Trump receives.
The CNBC article (May 24), "Truth Social struggles to grow its U.S. user base, new data on Trump Media app shows," explains well the factual concerns about Truth Social. Truth Social is the key driver of Trump Media's financial status, so the serious issues outlined by CNBC represent serious risks to Trump Media shareholders.
Trump Media & Technology (NASDAQ: DJT) stock price has been in the spotlight in the past few weeks as investors watched its financial results, the recent Trump trial, and presidential polls. It was trading at $45.8 on Friday, up by over 101% from its lowest point in April.
Truth Social is struggling to hang onto its U.S. user base, according to data on the microblogging platform launched by former President Donald Trump's media company, Trump Media. While traffic spiked after Trump Media went public and started trading on the Nasdaq under the ticker DJT, the most recent data show that those gains have already been erased.
Trump Media & Technology Group appears to have moved past its auditor-related issues. However, Trump Media's quarterly report indicates slow-revenue generation.
Shares have declined 17% over the past week.
Trump Media's just-released (May 20) 1st-quarter financial statements provide the data needed by Wall Street analysts. The reports are especially important right now because the media is currently cherry-picking a misleading number: Negative earnings of $327M.
The S&P 500 Information Technology Sector index hit a 52-week high and was up 0.2% at 1:15 p.m. ET, while the broader S&P 500 and the tech-heavy Nasdaq were flat.
Trump Media & Technology Group Corp (NASDAQ:DJT), parent of the former president's Truth Social, slumped on Tuesday after posting a multi-hundred-million dollar loss for the first quarter. Net losses came in at US$327 million for the three months to March, Trump Media's first report as a publicly traded company showed on Monday.
Trump Media & Technology Group Corp (NASDAQ:DJT), parent of the former president's Truth Social, slumped on Tuesday after posting a multi-hundred-million dollar loss for the first quarter. Net losses came in at US$327 million for the three months to March, Trump Media's first report as a publicly traded company showed on Monday.
Trump Media & Technology Group (DJT) stock dropped more than 9% in intraday trading Tuesday, a day after the media company of former President Donald Trump reported a $327.6 million quarterly loss.