Trump Media's Stock Drops 11% Amid Weak Earnings and Trump’s Return to Rival Platform X, But Loyal Investors Stay the Course

Benzinga 2024-08-19

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Trump Media & Technology Group's stock fell over 11% this week following a disappointing earnings report and Donald Trump's return to rival platform X. The stock has dropped about 43% since mid-last month. However, some investors remain optimistic, viewing their investments as expressions of political support for Trump. Truth Social, the company's platform, saw revenue drop by 30% in the last quarter, exacerbating investor concerns. Analysts suggest that the stock's volatility is tied more to ideology than financial performance, leaving its long-term outlook uncertain.

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