TMTG's stock fell 11% this week due to weak earnings and Trump's return to rival platform.

Trump Media & Technology Group's (TMTG) stock fell 11% this week, primarily due to a weak earnings report and former President Trump's return to rival platform X. The company's stock has experienced a 43% drop since mid-June. Some shareholders remain optimistic about TMTG's financial outlook and view their investment as a political statement. TMTG's Truth Social had a loss of over $16 million in the three months ending in June, with revenue down 30% from the previous year.

August 17, 2024
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