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Trump Media Shares Down 14% After Company Says Truth Social To Launch TV Streaming
Trump Media & Technology Group Corp., which has been called the "mother of all meme stocks" after it made its stock market debut in late March, announced that its Truth Social platform is moving to launch a live TV streaming platform. Following the news, shares of DJT closed more than 14% lower ...
CNBC reports: The stock's price has dropped by a whopping 67.7% since Trump Media began trading as a public company on March 26, erasing more than $5 billion in market capitalization. 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." "We're excited to move forward with the next big phase for Truth Social," added CEO Devin Nunes in a statement.
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