Friday, October 18

Tag: truth social

Trump Media launching Truth Social streaming service, where it says creators “won’t be cancelled”
17Apr By adminNo Comments
Money

Trump Media launching Truth Social streaming service, where it says creators “won’t be cancelled”

Trump Media & Technology Group on Tuesday announced plans to start a streaming TV platform to air news, film and other content the company claims other media outlets refuse to show.The announcement comes three weeks after Trump Media began trading on the Nasdaq stock market, briefly valuing the company at $10.8 billion. After reaching peaking at $79.38 per share on March 26, the stock — which trades under the ticker DJT, the initials of former President Donald Trump — has plunged by almost 70%.The slide continued on Tuesday, with Trump Media shares slipping $3.29, or 12.4%, to $23.32 in early afternoon trading. Its market value now stands at about $3.1 billion. Trump Media's primary asset is Truth Social, the social media service that Trump created ...
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Trump Media plunges amid plan to issue more shares. It’s lost $7 billion in value since its peak.
16Apr By adminNo Comments
Money

Trump Media plunges amid plan to issue more shares. It’s lost $7 billion in value since its peak.

After a short-lived honeymoon, former President Donald Trump's media company is experiencing a rough reception on Wall Street. Trump Media & Technology Group — which trades under the ticker DJT, his initials — tumbled 18.4% in Monday trading, a drop that follows last week's 21% plunge. The sharp drop in value comes after Trump Media, whose primary asset is Truth Social, the social media platform, on Monday filed a document with the U.S. Securities and Exchange Commission that opens the door for the future potential sale of millions of shares. The document, called an S-1, relates to warrants held by investors that can be transformed into shares of stock, as well as shares held by company insiders.The filing also includes all the shares held by the former president. Trump, however, rema...
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Trump Media’s $5.3 billion selloff deepens as 270% rally fizzles
16Apr By adminNo Comments
Business

Trump Media’s $5.3 billion selloff deepens as 270% rally fizzles

Donald Trump’s social media startup tumbled on Monday, extending a two-week slump, after the company took a first step toward allowing the former president and other insiders to capitalize on their stakes.Trump Media & Technology Group Corp, parent of Truth Social, filed to register shares, including those linked to warrants. The move could ultimately bring forward sales from insiders that are currently not permitted until September.The stock slumped 18% to $26.61, cutting its year-to-date gain to 52%, after touching the lowest level since before Trump’s rival Ron DeSantis quit the primary race in January.DeSantis’s exit sparked an 88% spike to extend a rally that began after Trump’s victory in the Iowa caucuses.The firm behind Truth Social has captivated individual investors who pile...
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Donald Trump Poses a Unique Threat To Truth Social, Says Truth Social
15Apr By adminNo Comments
Technology

Donald Trump Poses a Unique Threat To Truth Social, Says Truth Social

Trump Media & Technology Group, the Truth Social parent company majority-owned by former president Donald Trump, filed a document with the Securities and Exchange Commission this morning that helpfully details all of the ways Trump himself poses a threat to the company and its shareholders. While the company generated just over $4 million in revenue in 2023, Trump Media’s valuation has fluctuated wildly since going public in March, at one point reaching more than $7 billion. As of this morning, the company was valued at $3.7 billion. Trump Media has become a meme stock, where the stock price is governed more by vibes than traditional financial performance.The SEC document filed by Trump Media this morning, which announced the public stock offering of 21.5 million shares, also detailed...
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The Hacking Lawsuit Looming Over Truth Social
10Apr By adminNo Comments
Technology

The Hacking Lawsuit Looming Over Truth Social

Then, according to the Florida suit, Swider used Orlando’s stolen Mailchimp account credentials and listserv to send an email to ARC II investors in the Truth Social deal on March 5, attacking Orlando’s management of ARC II and DWAC, and his involvement in a separate lawsuit filed against DWAC the previous month.“Mr. Orlando’s leadership has guided our common interests with DWAC directly into the arms of the SEC, the DOJ, lengthy delays and costly investigations,” Swider wrote. “By filing this lawsuit against DWAC, Mr. Orlando is destroying the value that may be realized upon consummation of the business combination by the Company and its members.”Swider then invited fellow investors to join him on a series of Zoom calls to “understand our risk exposure based on leadership that continues ...
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Donald Trump Posts Tirade Against Judge, Court Clerk Hours After Gag Order Paused
17Nov By adminNo Comments
Politics

Donald Trump Posts Tirade Against Judge, Court Clerk Hours After Gag Order Paused

Former President Donald Trump went on a tirade against the judge overseeing his civil fraud trial on Thursday, just hours after an appeals court paused a gag order against him that limited what he could say about court staff.A New York Appellate Division judge issued a stay on the gag order after finding it was “unconstitutional,” adding the pause would extend until at least Nov. 27 when a full panel of judges will consider the matter. The gag order was first imposed by Judge Arthur Engoron on the second day of the trial into Trump’s business practices after the former president fired off attacks against the judge’s law clerk.Trump had violated the order twice, resulting in $15,000 in fines and warnings from Engoron that any further violations would result in harsh penalties. The judge ha...
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Donald Trump’s Truth Social has lost $23 million this year. Its accountants warn it may not survive.
15Nov By adminNo Comments
Money

Donald Trump’s Truth Social has lost $23 million this year. Its accountants warn it may not survive.

When Truth Social launched in 2022, backers of the social network described it a conservative-friendly alternative to Big Tech platforms that would attract advertisers eager to court former President Donald's Trump's millions of followers. But a new regulatory filing reveals that Truth Social's owner, Trump Media & Technology Group, has booked only $2.3 million in sales through June this year, while losing 10 times that amount. The disclosure also contains a warning from Trump Media & Technology Group's accountants, who said they have "substantial doubt about the company's ability to continue as a going concern."The financial details about Trump Media & Technology Group were made public in a Monday filing from Digital World Acquisition Corp. (DWAC), a so-called special-purpose...
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Truth Social Has Lost A Ton Of Money And Is In Peril, Report Says
14Nov By adminNo Comments
Politics

Truth Social Has Lost A Ton Of Money And Is In Peril, Report Says

A new filing about the former president’s right-wing social media platform raised serious doubts about its viability, The Hollywood Reporter reported on Monday.Truth Social has lost $73 million since debuting in February 2022, prompting a grave forecast from independent accountants for Truth Social’s owner, Trump Media & Technology Group. The concerns were reportedly revealed in a financial disclosure filed by the company’s SPAC merger partner, Digital World Acquisition Corp.“TMTG’s independent registered public accounting firm has indicated that TMTG’s financial condition raises substantial doubt as to its ability to continue as a going concern,” the filing reads, per The Hollywood Reporter.Debts were piling up fast as of June 30, 2023, according to the financial disclosure. “Managem...
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