Trump Media Shares Dip as Former President Returns to X/Twitter Ahead of Appearance with Elon Musk
ICARO Media Group
Shares of Trump Media and Technology Group closed 5% lower today at $24.88 as the former president, Donald Trump, resumed posting on X/Twitter in anticipation of his upcoming appearance with the site's owner, Elon Musk. The decline in stock price followed the release of Trump Media's latest financial report, revealing a loss of $16.4 million in the previous quarter, with total revenue amounting to $836,900.
One of Trump Media's key assets, the social media platform Truth Social, heavily relies on Trump's presence as its most prominent contributor. Despite continuing to post on Truth Social, Trump surprised his followers by resuming activity on X/Twitter earlier today, a platform from which he had only posted once since his reinstatement.
In his X/Twitter posts, Trump posed a question, "Are you better off now than you were when I was president?" He proceeded to criticize the state of the economy, border security, and the perceived decline of the nation. Trump's reengagement also included sharing a series of campaign messages and videos.
The former president's previous post on X/Twitter dated back to August 24, 2023, when he shared his mugshot following his indictment in a Georgia election racketeering case. Trump had been banned from Twitter after the Capitol attack on January 6, 2021, but his account was reinstated by Elon Musk, who took control of the platform.
As the anticipation heightens, Trump and Musk are scheduled to appear together tonight at 8 p.m. ET. The nature of their collaboration remains undisclosed, but the mere prospect of two influential figures coming together has sparked curiosity among the public.
The fluctuation in Trump Media's stock value suggests that investors are closely monitoring the impact of Trump's social media presence on the company. The future of Truth Social, in particular, is largely tied to the former president's involvement.
Only time will tell how this collaboration will unfold and whether it will positively influence Trump Media's financial performance. For now, all eyes are on the upcoming appearance between Trump and Musk, which has generated significant buzz across various media platforms.