NFLX - Stock Sharply Falls for Trump Media Group in Just a Week | Benzinga
The former President's Trump Media & Technology Group (NASDAQ: DJT) which refers to itself as TMTG, has seen stock plummet after just one week.
Digital World Acquisition Corp merged with Trump Media in late February to a large fanfare. However, the media company's share price has dropped a massive 20%+ in seven days of trading on the stock market.
Truth Social
The social media company tied to TMTG, Truth Social, relies on the supporters loyal to the former President, but this is a double-edged sword concerning growth.
According to a filing with the Securities and Exchange Commission (SEC), the company has stated in an overview that:
"TMTG aspires to build a media and technology powerhouse to rival the liberal media consortium and promote free expression. TMTG was founded to fight back against the big tech companies—Meta (NASDAQ: META) (Facebook, Instagram, and Threads), X (formerly Twitter), ...