Trump Media & Technology Group (DJT) Stock Falls Despite Launch of Truth+ Streaming Platform
Trump Media & Technology Group (NASDAQ: DJT) stock is seeing a decline today even with the rollout of Truth+, the social media platform’s linear streaming platform. DJT stock has dropped by 13% in the past month.
After undergoing stress testing, users of Truth Social will soon be able to access the beta version of Truth+ with availability for iOS and Android coming soon. The platform will offer news, weather, and entertainment channels, with plans to expand the number of channels in the future.
CEO Devin Nunes stated, "First, we created Truth Social to provide a safe harbor for free speech on the Internet. Now, we’re establishing a reliable home for great TV content that is neglected by big corporations or at risk of cancellation."
Following the channel rollout, TMTG plans to integrate streaming apps with Truth Social and introduce apps for in-home TV sets. The technology behind Truth+ will be powered by its own servers and routers, making it "uncancellable by Big Tech."
Last month, TMTG signed an agreement to acquire assets from Perception Group to enhance Truth+. The company also has the option to purchase Perception outright, gaining licensing rights for the new CDN technology.
Despite these developments, DJT stock is under pressure due to the increasing odds of Vice President Kamala Harris winning the election. According to Polymarket, Trump’s odds stand at 54%, with Kamala trailing at 44%.
In conclusion, the launch of Truth+ and the acquisition of assets from Perception Group are significant developments for Trump Media & Technology Group. However, the stock’s performance is being impacted by political factors. Investors should keep an eye on how these events unfold and consider their investment strategies accordingly.
Disclosure: The writer, Eddie Pan, does not hold any positions in the securities mentioned in this article.