Trump Media has pivoted to crypto, financial services and nuclear fusion. Its stock keeps falling
Trump Media & Technology, the parent company of Truth Social, has diversified into cryptocurrency and finance, but its stock continues to fall. The company has lost over $1 billion in the past two years and its stock has plunged into single digits.
Trump Media & Technology, launched by the Trump family four years ago, has struggled to gain traction with its social media platform Truth Social. Despite diversifying into cryptocurrency and finance, the company's stock has fallen over 60% since Donald Trump's hypothetical re-election in November 2024, wiping out $6 billion in shareholder wealth. The company has teamed up with Crypto.com to start a new cryptocurrency business and has invested $2.5 billion in bitcoin. The company's leadership has also been shaken up, with Devin Nunes being replaced by Kevin McGurn as CEO. Trump Media has lost over $1 billion in the past two years, and its financial struggles are reflected in its stock price. The company's new ventures into cryptocurrency and finance are an attempt to revive its fortunes.
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