Donald Trump Urges Support for Truth Social Amid Stock Decline
Donald Trump urges followers to support his social media app Truth Social as its parent company's stock continues to decline. Despite the stock's drop, Trump Media still has a market capitalization of over $4.2 billion. Trump owns more than 57% of the company's stock but is barred from selling until a six-month lockout period expires.
Key Points
- Donald Trump urges support for his social media app Truth Social.
- The parent company, Trump Media, has a market capitalization of over $4.2 billion.
- Trump Media CEO, Devin Nunes, claims the company is well positioned with no debt and $200 million in cash.
- Trump owns over 57% of Trump Media's stock but cannot sell until a lockout period expires.
Pros
- Trump Media has no debt and $200 million in cash on hand.
- The company is considering adding video streaming capabilities to Truth Social and making it a hub for 'canceled' channels and documentaries.
Cons
- Trump Media's stock price has declined significantly since its debut on the Nasdaq.
- Despite the stock's drop, Trump Media still lacks revenue.