Shares of former U.S. President Donald Trump's media company dipped and neared record lows on Wednesday, following weak quarterly results and the Republican ...
- Shares of former U.S. President Donald Trump 's media company dipped and neared record lows on Wednesday, following weak quarterly results and the Republican presidential candidate's return to social media platform X.
As many as 1.3 million people tuned in to the lengthy conversation where the pair discussed topics ranging from the assassination attempt on Trump to geopolitics and the economy. Trump frequently posts on his Truth Social platform, which was launched in February 2022, but his posts there reach a much smaller audience than on X.
"The company's stock is slowly facing the truth of its upside-down financials," said Michael Ashley Schulman, chief investment officer at Running Point Capital."Add to that the news that revenues were down 30% compared to a year earlier and that a huge chunk of change has been spent on a licensing agreement to power new streaming service Truth+ and there will be concern about the future of the company if Trump's popularity dwindles further," Hewson said.
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