Shares of Trump Media, the company which owns Truth Social, former President Donald Trump’s social messaging platform, reached their lowest price since going public on the Nasdaq nearly five months ago. The stock traded below $22.40 per share, marking a 3% decline for the day. This downward trend has been ongoing over the past month, coinciding with various developments in Trump’s personal and political life.
The company’s success is linked to Trump’s popularity, and some supporters view investing in the stock as a way to show their support. Despite reporting a loss of over $16 million for the fiscal quarter ending June 30, with minimal revenue, Trump Media has a market capitalization of nearly $4.5 billion.
Trump is required by a licensing agreement to make “non-political” social media posts on Truth Social first, but he can post political messages on other platforms without restriction. Recently, he has been active on X and TikTok, two large social media platforms. Trump was also interviewed by Elon Musk on X, formerly known as Twitter.
Overall, Trump’s involvement in the company and his political activities have had an impact on the stock’s performance. The company’s financial situation, coupled with the influence of Trump’s actions and statements, continue to shape the trajectory of Trump Media’s stock price on the market.
Photo credit
www.nbcnews.com