What's Going On With Former President Donald Trump Backed DJT Stock On Friday?
Portfolio Pulse from Anusuya Lahiri
Trump Media & Technology Group Corp (NASDAQ:DJT) stock is trading lower following the conclusion of a criminal trial against its majority owner, Donald Trump, who was found guilty of 34 charges of falsified business records. Despite this, Trump retains significant support from wealthy Wall Street figures and can still run for president. The company reported disappointing first-quarter financial results and a decline in daily visits to its social networking site, Truth Social.
May 31, 2024 | 11:49 am
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Trump Media & Technology Group Corp (NASDAQ:DJT) stock is trading lower following the conclusion of a criminal trial against its majority owner, Donald Trump, who was found guilty of 34 charges of falsified business records. The company also reported disappointing first-quarter financial results and a decline in daily visits to its social networking site, Truth Social.
The guilty verdict against Donald Trump, the majority owner, is likely to negatively impact investor sentiment. Additionally, the company's poor financial performance and declining user engagement on Truth Social further contribute to the negative outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100