Trump Media's shares rose by over 9% after urging House Republican committee leaders to investigate possible unlawful manipulation of its stock. The company's CEO, Devin Nunes, requested GOP chairs to probe anomalous trading and naked short selling affecting its stock price. Nunes claimed Trump Media was a victim worth over $1.3 billion, and highlighted the need to protect shareholders and hold perpetrators accountable. The letter was addressed to four House committee leaders: Financial Services Chairman Patrick McHenry, Judiciary Chairman Jim Jordan, Ways and Means Chairman Jason Smith, and Oversight Chairman James Comer.
CEO Devin Nunes alleges market manipulation targeting Trump Media & Technology Group's stock, DJT, by specific market participants. The company's stock saw extreme swings since its IPO, leading to a brief surge in former President Trump's net worth. DJT shares, part of meme stock club, have not generated revenue and suffered losses. Nunes's claims coincided with Trump's trial and the company's plans to sell more stock despite its poor performance. Recent share gains were cheered by small shareholders. Professional investors remain skeptical about the company's future.
Trump Media, the parent company of Truth Social, has filed a formal complaint with Nasdaq, concerning potential market manipulation affecting its stock DJT. The stock gained 45.3% this week but is down 50% from its peak. CEO Devin Nunes expressed concerns about naked short selling and named four market participants responsible for over 60% of the trading volume. Citadel Securities responded with a scathing statement towards Nunes. After the complaint, the stock briefly rose 12%. Nasdaq and other involved parties have been contacted for comments.
Devin Nunes, CEO of Trump Media, alerted Nasdaq of potential illegal naked short selling that may be causing share price decline. Legitimate short sellers borrow shares before selling, unlike those involved in naked short selling. The company, majority-owned by Donald Trump, has seen a 50% decrease from its all-time high, struggling to generate revenue and needing cash. Experts caution investors due to the lack of fundamental support for the company's valuation. Despite losing $58 million in 2023, the company ended a recent session 9.6% higher.
Trump Media & Technology Group's stock, ticker symbol DJT, rose over 25% as the company offered advice to investors on preventing their shares from being loaned for short-selling. Short interest in DJT stock has increased to 13%, with the company advising investors to contact their brokers to restrict share lending. Trump Media, founded by former President Trump, faced a $60 million loss in 2021 and is struggling with profitability challenges. The stock, down 55% since March, experienced a recent surge of 47% after testing its 200-day moving average at $24. Trump Media also faces a six-month lockup period for stakeholders.
Donald Trump's media company, Trump Media & Technology Group, plans to launch a streaming platform, despite its falling stock prices. The company's stock has dropped close to 14% and more than halved in value since going public. The new platform, Truth Social, will expand into livestreaming, offering content at risk of cancellation or suppression. CEO Devin Nunes mentioned providing a platform for content facing discrimination. The company's stock, majority-owned by Trump, is down over 70% from its all-time high, struggling to make profits. Investors are cautioned due to the lack of fundamentals supporting its valuation.
Shares of Trump Media & Technology Group have dropped by 10% on Monday, leading to a significant decrease in former President Donald Trump's stake to about $2.9 billion from a peak of $5.2 billion. The company, including Truth Social, has faced financial challenges, losing $58 million in 2023 on minimal revenue. Despite the losses, shares have doubled in value this year, with Trump Media and its merger partner valued at $8 billion initially. CEO Devin Nunes remains optimistic, emphasizing the company's unique offerings and positioning against 'Big Tech' companies.
Trump Media & Technology Group (DJT) stock dropped over 10% following the announcement of a new live TV streaming service through the Truth Social app, focusing on news, religious, and family-friendly content. Trump's stake in the company is now worth around $1.9 billion, down from over $4.5 billion. The company reported sales of $4 million with net losses of nearly $60 million and expects further losses. Truth Social users express concern over the stock's decline and conspiracy theories about manipulation and SEC involvement.
Former President Donald Trump is poised to receive an additional 36 million shares of Trump Media as part of an earnout bonus worth over $1.25 billion, triggered by the stock reaching twice the benchmark minimum share price of $17.50 for the required 20 trading days within a 30-day period starting from March 25. Trump's total stake in Trump Media would be valued at more than $4 billion at $35 per share, with Trump Media having the potential to issue a total of 40 million earnout shares.
Donald Trump's media and technology company, Trump Media & Technology Group, has requested Nasdaq's assistance to prevent "naked" short-selling in its shares, citing potential market manipulation due to high short interest. The CEO of TMTG highlighted that a few market participants were responsible for over 60% of the trading volume in DJT shares. Citadel Securities responded, emphasizing integrity, while other market makers did not immediately comment. Nasdaq reiterated its commitment to market principles and transparency, advocating against naked short-selling.
Former CEO of Digital World Acquisition Corp. (DWAC) sues successor, Eric Swider, alleging hacking and coup plot to replace him as CEO of the company that merged with Trump Media & Technology Group. Swider denies allegations of orchestrating a coup and hacking Orlando's accounts with the help of a former assistant. Legal disputes and messy events characterize Trump Media's rocky path to going public after DWAC settled fraud charges and faced criticisms of being a meme stock.
Former President Donald Trump's new company, Trump Media & Technology Group, is now trading under the stock ticker symbol DJT on the Nasdaq exchange, with its main product being the social media app Truth Social. Trump's previous publicly traded company, Trump Hotels and Casino Resorts, faced financial struggles and bankruptcies despite Trump profiting personally. Trump Media's valuation at $6.7 billion seems disproportionate to its business performance, with low revenue and high losses. Trump cannot sell his shares for six months post-merger due to a lockup provision.
Trump Media & Technology Group (TMTG), also known as T Media Tech LLC, is an American media and technology company founded in 2021 by former U.S. president Donald Trump. In October 2021, the company announced a proposed merger agreement with Digital World Acquisition Corp (DWAC), a publicly traded special-purpose acquisition company. Trump owned about 90% of the company in April 2023. Since January 2022, former U.S. representative Devin Nunes has served as the company's chief executive officer. In February 2022, TMTG launched the social network Truth Social. Trump reported in an April 2023 personal financial disclosure that he had made less than $201 from TMTG.A November 2023 DWAC financial disclosure indicated TMTG had generated losses such that management had "substantial doubt" about its ability to pay its bills, and the company's accounting firm had "substantial doubt" about the company's ability to remain in business.
Former President Donald Trump is on track to receive 36 million shares of Truth Social valued at $1.3 billion, with the potential to gain more shares as Trump Media & Technology Group's stock price rises, solidifying his position as the dominant shareholder.
The Trump Organization is an American privately-owned conglomerate owned by Donald Trump. It serves as the holding company for all of Trump's business ventures and investments, with around 250 of its affiliates and subsidiaries using the Trump name. Donald Trump joined the organization in 1968, began leading it in 1971, renamed it around 1973, and handed off its leadership to his children in 2017 after he won the 2016 United States presidential election. The Trump Organization, through its various constituent companies and partnerships, has or has had interests in real estate development, investing, brokerage, sales and marketing, and property management. Trump Organization entities own, operate, invest in, and develop residential real estate, hotels, resorts, residential towers, and golf courses in various countries. They also operate or have operated in construction, hospitality, casinos, entertainment, book and magazine publishing, broadcast media, model management, retail, financial services, food and beverages, business education, online travel, commercial and private aviation, and beauty pageants. Trump Organization entities also own the New York television production company that produced the reality television franchise The Apprentice. Retail operations include or have included fashion apparel, jewelry and accessories, books, home furnishings, lighting products, bath textiles and accessories, bedding, home fragrance products, small leather goods, vodka, wine, barware, steaks, chocolate bars, and bottled spring water.Since the financial statements of the Trump Organization's holdings and Donald Trump's personal tax returns are both private, its true value is not publicly known, though a wide range of estimates have been made. Trump has publicly released little definitive financial documentation to confirm his valuation claims. On several occasions, Trump has been accused of deliberately inflating the valuation of Trump Organization properties through aggressive lobbying of the media (in particular the authors of the annual Forbes 400 list) to bolster his perceived net worth.By 2019, the Trump Organization was being scrutinized by New York investigators for possible financial fraud. In July 2021, New York prosecutors charged the organization with 10 counts in an alleged 15-year tax avoidance scheme. In November, The Washington Post reported that between 2011 and 2015 the organization presented several properties as being worth far more to potential lenders than to tax officials. In August 2022, the organization's chief financial officer, Allen Weisselberg, pleaded guilty to committing more than a dozen felonies, including criminal tax fraud and grand larceny. In September 2022, New York Attorney General Letitia James announced a civil lawsuit against the organization. A separate criminal case by the Manhattan district attorney was brought to trial in October; on December 6, the organization was convicted on 17 criminal charges.In September 2023, the judge presiding over the civil suit ruled that Trump, his adult sons and the organization repeatedly committed fraud and ordered their New York business certificates canceled and their business entities sent into receivership for dissolution in what has been described by observers as a "corporate death penalty". Trump and the organization were ordered to pay nearly $355 million before interest in February 2024, with further restrictions placed on the Trump Organization's business certificates, and on both Trump and his adult sons' ability to do business in New York.
Former President Donald Trump called into a secretive donor meeting hosted by the Rockbridge Network in Palm Beach, Florida, as he was unable to attend in person due to his hush money trial in New York. The event, attended by about 250 tech-populist-leaning individuals, aimed to support the changing Republican Party and build a fresh infrastructure. Trump's son, Donald Trump Jr, filled in for him as a guest speaker. Rockbridge Network, a relatively unknown conservative group founded in 2019, has significant funding in the high tens of millions and is aligned with Trump, unlike some older GOP donor groups like the Koch network.
Former President Trump is criticizing President Biden for a potential TikTok ban moving through Congress, despite Trump's own past efforts to ban the app. Trump accused Biden of aiding Facebook's power and election meddling against Republicans. The House passed a bill urging TikTok's China-based parent company to sell within a year or face a national ban. Biden supported the bill, aiming for an American-owned TikTok to safeguard personal data. Trump's reversal on TikTok, his ties to a GOP donor invested in TikTok, and his shifting stance on the app have raised questions.
Donald Trump's use of social media attracted attention worldwide since he joined Twitter in May 2009. Over nearly twelve years, Trump tweeted around 57,000 times, including about 8,000 times during the 2016 election campaign and over 25,000 times during his presidency. The White House said the tweets should be considered official statements. When Twitter banned Trump from the platform in January 2021 during the final days of his term, his handle @realDonaldTrump had over 88.9 million followers. On November 19, 2022, Twitter's new owner, Elon Musk, reinstated his account, although Trump has stated he will not use it in favor of his own social media platform, Truth Social. The first tweet since 2021 was made in August 2023 about his mugshot from Fulton County Jail, but the account has since remained inactive.For most of Trump's presidency, his account on Twitter, where he often posted controversial and false statements, remained unmoderated in the name of "public interest". Congress performed its own form of moderation: on July 16, 2019, the House of Representatives voted mostly along party lines to censure him for "racist comments" he had tweeted two days previously. In the face of this political censure, his tweets only accelerated. An investigation by The New York Times published November 2, 2019, found that, during his time in office to date, Trump had already retweeted at least 145 accounts that "have pushed conspiracy or fringe content, including more than two dozen that have since been suspended." In 2020, Trump also spread misinformation about the COVID-19 pandemic.During his 2020 reelection campaign, he falsely suggested that postal voting or electoral fraud may compromise the election, prompting Twitter to either remove such tweets or label them as disputed. After his election loss, Trump persistently undermined the election results in the weeks leading to Joe Biden's inauguration. His tweets played a role in inciting the January 6, 2021, attack of the US Capitol during the formal counting of electoral votes. Though the Senate eventually acquitted Trump during his second impeachment, social media companies swiftly banned him. Facebook and Instagram banned him for two years. Twitter permanently suspended his @realDonaldTrump handle, followed by the official account of his campaign (@TeamTrump) and the accounts of allies who posted on his behalf, like Trump campaign digital director Gary Coby. Twitter also deleted three tweets by Trump on the @POTUS handle and barred access to the presidential account until Joe Biden's inauguration. During the first week that Trump was banned on several platforms (January 9–15), election-related misinformation declined 73 percent, according to research analytics firm Zignal Labs.As Trump continued to issue brief statements, his spokesperson Liz Harrington tweeted screenshots of them under the Save America logo from June 2021 to June 2022. Since then, however, her Twitter handle @realLizUSA has been infrequently used. She said she would move to Truth Social, a Trump-affiliated social media application that launched on February 21, 2022.On April 4, 2023, at his arraignment hearing, Trump was warned by Acting New York Supreme Court Justice Juan Merchan not to use social media to incite violence.
Overnight Editor, HuffPost President Joe Biden cracked a joke at Donald Trump s expense on Tuesday, mocking the former presidents financial struggles as the value of his media company continues to plunge . If Trumps stock in Truth Social his company drops any lower, he might do better under my tax plan than his, Biden said in Pennsylvania , causing the audience to erupt with laughter: If Trumps stock in Truth Social, his company, drops any lower, he might do better under my tax plan than his. President Biden, while pitching his plan for higher taxes on the rich in Scranton, Pennsylvania pic.twitter.com/2vF3CzpSfJ Trump Media & Technology Group Corp.
The United States House Oversight Committee investigation into the Biden family is an ongoing investigation since January 2023 by the United States House of Representatives into US President Joe Biden and his family. The investigation was initiated on 11 January, and includes examination of the foreign business activities of Biden's son, Hunter, and brother, James, as well as Twitter's involvement in the Hunter Biden laptop controversy. As of November 2023, the investigation has not found any evidence of wrongdoing by President Biden. Nevertheless, in September 2023, former House Speaker Kevin McCarthy directed committee chairman James Comer to lead a formal three-committee impeachment inquiry.
Former President Donald Trump's social media company, Trump Media & Technology Group Corp. (TMTG), is preparing to introduce a live-streaming platform through its Truth Social app. This new content delivery network, after six months of testing, will provide high-quality news and entertainment content aiming to operate independently from Big Tech companies.
House Republicans are pushing to include a bill in a foreign aid package that could result in a nationwide TikTok ban to protect Americans' data from Chinese government, facing opposition from TikTok and civil society groups, and aiming to expedite the Senate's vote. The bill, with updates like a nine-month deadline for ByteDance to sell TikTok, allows a 90-day extension for progress towards a sale, addressing concerns about the initial six-month timeframe.
The Epoch Times is a far-right international multi-language newspaper and media company affiliated with the Falun Gong new religious movement. The newspaper, based in New York City, is part of the Epoch Media Group, which also operates New Tang Dynasty (NTD) Television. The Epoch Times has websites in 35 countries but is blocked in mainland China.The Epoch Times opposes the Chinese Communist Party, platforms far-right politicians in Europe, and has supported former President Donald Trump in the U.S.; a 2019 report by NBC News showed it to be the second-largest funder of pro-Trump Facebook advertising after the Trump campaign itself. The Epoch Times frequently runs stories promoting other Falun Gong-affiliated groups, such as the performing arts company Shen Yun. The Epoch Media Group's news sites and YouTube channels have promoted conspiracy theories such as QAnon, anti-vaccine misinformation and false claims of fraud in the 2020 United States presidential election.
Truth Social (stylized as TRUTH Social) is an alt-tech social media platform created by Trump Media & Technology Group (TMTG), an American media and technology company founded in October 2021 by former US president Donald Trump. It has been called a "Twitter clone" that competes with Parler, Gab, and Mastodon in trying to provide an alternative to Twitter and Facebook. Truth Social uses Mastodon as its backend.The service was launched on February 21, 2022. Since mid-2022, Truth Social has been facing financial and regulatory issues. The application was initially not available on Google Play because of violations of Google policies prohibiting content with physical threats and incitement to violence, but was approved for Google Play in October 2022 after agreeing to enforce policies against incitement.As of March 6, 2023, it was ranked number 101 in Apple's App Store rankings for social media apps, and SimilarWeb ranked its website as number 203 in their "News & Media Publishers" category, behind Gab at number 154, but ahead of Parler at number 1,052. Trump estimated in an April 2023 personal financial disclosure that the site's value ranged from $5 million to $25 million.Digital World Acquisition Corporation, the special-purpose acquisition company formed to fund Truth Social's parent company TMTG and take it public, disclosed in October 2023 that it was refunding to investors the $1 billion it had raised for TMTG. A November 2023 financial disclosure by DWAC indicated that Truth Social had made a cumulative loss of at least $31.5 million since its inception.
Devin Gerald Nunes (; born October 1, 1973) is an American businessman and politician who is chief executive officer of the Trump Media & Technology Group (TMTG). Before resigning from the House of Representatives and joining TMTG, Nunes was first the U.S. representative for California's 21st congressional district and then California's 22nd congressional district from 2003 to 2022.A member of the Republican Party, Nunes was the chair of the House Intelligence Committee from 2015 to 2019. He was also a member of President Donald Trump's transition team. Nunes's former district, numbered as the 21st from 2003 to 2013 and as the 22nd after redistricting, was in the San Joaquin Valley and included most of western Tulare County and much of eastern Fresno County.In March 2017, the U.S. House intelligence committee, which Nunes chaired at the time, launched an investigation into possible Russian interference in the 2016 United States elections. In February 2018, Nunes publicly released a four-page memorandum alleging an FBI conspiracy against Trump. Nunes subsequently began an investigation of the FBI and the U.S. Justice Department for allegedly abusing their powers in an attempt to hurt Trump. In January 2021, Trump awarded Nunes the Presidential Medal of Freedom.
House Oversight Chairman James Comer has formally invited President Joe Biden to testify at a public hearing as House Republicans attempt to revive interest in their stalled impeachment inquiry. Despite the invitation, the White House has dismissed the move as a 'sad stunt'. Comer suggested the hearing take place on April 16 and emphasized the lack of evidence found by Republicans to support their core allegations against the president. Various Biden family business associates have testified, denying discussions of business with the president. Comer has also hinted at sending criminal referrals to the Department of Justice as an alternative to impeachment.
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