2024-08-21T17:05:00+03:00 Politics 2024-09-15T04:08:13+03:00

Ukrainian news

Shares of Trump's media company fall to record low after interview with Elon Musk

Shares of Trump's media company fall to record low after interview with Elon Musk

Shares of Trump Media & Technology Group, which is owned by the U.S. presidential candidate, Republican Donald Trump, fell to a record low, according to Reuters.

Shares of Trump Media fell more than 4% to USD 21.33. As a result of trading, they stopped at USD 21.42, losing 3.7%, which became the eighth consecutive session of losses.

Analysts note that this result is related to Donald Trump's public activities. First of all, attention to social networks X (Twitter), as it is a direct competitor of Trump Media.

As you know, Trump restored his X (Twitter) account, gave an interview to the current owner of the platform, Elon Musk, and then declared that he was ready to offer him a public position if he won the election.

In addition, the decline in Trump's rating in the polls also had a negative impact on the company's shares.

Earlier, Trump Media, whose main asset is the Truth Social mobile application, reported a quarterly loss of USD 16.4 million and revenue of only USD 837,000. The company's market value has shrunk to about USD 4.3 billion, down from more than USD 8 billion at the start of the year. During the presentation of Truth Social, Trump positioned the service as a social network without censorship.

As previously reported, Kamala Harris narrowly leads Trump in five of seven key states.