“If the people who believe in putting America first and want to make America great again, support the TRUTH,” Trump wrote.
“We will be your voice like never before, and a real voice is what our country needs, because we are in decline and must lead America to greatness,” he wrote.
It was unclear whether Trump was urging his supporters to use the app or buy shares of Trump Media, which began trading on Nasdaq last month.
The stock, which trades under the ticker DJT, soared more than 50% in its March 26 debut but fell in subsequent trading days.
On Friday, Trump Media’s stock price fell below $30, down more than $40 from its meteoric start. It was down more than 4% as of 11:30 a.m. ET on Friday, following even bigger declines on Thursday and Wednesday. Shares are down 50% so far in April.
Trump is nevertheless poised to reap a financial windfall from the company. Despite the falling stock price and the company’s lack of revenue, Trump Media still had a market capitalization of over $4.2 billion.
Trump owns more than 57% of the company’s stock, but is prohibited from selling his stake until a six-month lockout period expires.
Trump Media CEO, former Republican Rep. Devin Nunes, boasted that the company is “well positioned” because it has no debt and $200 million in cash. Nunes, in an interview with Fox News on Monday, suggested that the company was considering adding video streaming capabilities to Truth Social and making it a hub for “canceled” channels and documentaries.
Trump, the presumptive Republican presidential nominee, defended Truth Social against its critics earlier in April.
Neither Trump’s messages nor Nunes’ assertions have yet succeeded in halting the stock’s slide.
News Source : www.cnbc.com
Gn bussni
