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    Trump Media & Technology Group’s Stock Plummets, Erasing Billions for Trump: Is Truth Social in Trouble?

    June 21, 2024 Business No Comments2 Mins Read
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    News reporters have shared a recent update on the state of Trump Media & Technology Group’s social media platform, Truth Social. Since May 30, the company has experienced a significant decrease in market value, with Trump Media’s share price dropping by 48% over just three weeks. As a result, former President Donald Trump, the company’s leading shareholder and chairman, has seen an estimated $3 billion erased from his net worth.

    The company’s selloff has been accelerated by recent announcements from Trump Media regarding regulatory approvals that may impact shareholders. Despite the plummeting share price, experts are cautioning that Trump Media remains at risk for further losses. Finance professor Jay Ritter noted, “The stock is still wildly overpriced,” highlighting the disconnect between the company’s valuation and revenue generation.

    With only $770,500 in revenue recorded for the first quarter and a minimal presence in the social media landscape, Truth Social continues to struggle to compete with larger platforms. Experts have compared Trump Media to meme stocks like GameStop and AMC, suggesting that its valuation is driven by hype rather than fundamentals.

    Recently, the Securities and Exchange Commission approved Trump Media’s registration statement, allowing early investors to exercise warrants and potentially raise $250 million for the company. While this development may provide capital for growth opportunities, it could also dilute existing shareholders’ holdings.

    Trump Media CEO Devin Nunes expressed optimism about the company’s future prospects, highlighting plans for TV streaming, platform enhancements, and potential mergers and acquisitions. However, the exercising of warrants is expected to increase the supply of shares outstanding, impacting the stock price.

    As the dominant shareholder, Trump’s stake in the company has been affected by the recent downturn, with his shares now valued at about $3.1 billion, down from $6 billion in May. Despite these challenges, Trump Media continues to navigate its position in the market and pursue growth opportunities.

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    Tories Propose Controversial Ban on Foreigners Claiming Sickness Benefits, Calling it a ‘Ticking Time Bomb’ for Welfare System

    July 10, 2025

    FEMA’s Red Tape Hinders Texas Flood Response: 120 Lives Lost and Counting

    July 9, 2025

    Congressional Outcry: U.S. Lawmakers Demand Action as Canadian Wildfire Smoke Spoils Summer Fun

    July 9, 2025

    Kellogg Shares Skyrocket Amid Rumors of Ferrero’s $3 Billion Takeover Bid

    July 9, 2025

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