Nasdaq halts trading of the company’s stock several times as its price rises and falls by huge percentages
Donald Trump’s tiny social media empire revealed another heavy loss and a fall in sales in a surprise stock market filing as the first polls closed the night of the presidential election.
Truth Social, the company’s fledgling social network, remains minuscule in comparison to the likes of Meta’s Facebook or Instagram; TikTok; and Elon Musk’s X, formerly Twitter. TMTG’s wider business is still losing money, too. The firm’s meager financial returns have not prevented it from building an eye-watering $6.8bn valuation since its market debut earlier this year – leaving Trump’s majority stake worth almost $3.9bn on paper.apparent swing towards Trump in the betting markets
TMTG’s turbulent market rise has propelled it into the ranks of so-called “meme stocks”, such as the video games retailer, which have rattled Wall Street in recent years by staging unexpected, volatile rallies as day traders piled in.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kamala Harris seeks to gain election edge over Donald Trump with media blitzVice president begins week-long run of media appearances as polling continues to show race is too close to call
Read more »
‘Every day is a new conspiracy’: behind Trump’s ironclad grip on rightwing mediaWhat rightwing outlets cover increasingly differs from the mainstream, furthering the bubbles a divided US lives in
Read more »
Harris takes narrow lead over Trump in New York Times poll as intense media campaign continuesFirst time vice-president has led Trump in Times/Siena poll since July when Joe Biden dropped out of race
Read more »
Who is Donald Trump: Real estate tycoon, media personality, or a reluctant politician?Donald Trump navigated the worlds of business, reality TV and politics to become a figure both celebrated and scrutinised. Here's a look at his complex journey.
Read more »
US election 2024: Trump’s social media company now worth than Musk’s XThe stock of Trump Media tends to move more with Trump’s re-election odds; Victorian Liberals promise to bring back state debt cap. Follow live updates.
Read more »
Trump Media shares soar 14 per cent – then plungeTrump Media and Technology shares spiked as much 14 per cent before ending in the red on Election Day Tuesday after weeks of volatile trading as investors bet on a Trump win that would send the social media company’s business soaring.
Read more »