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☆ DJT stock: Truth Social keeps shrinking despite the Trump trial and looming election
  + stars: | 2024-05-03 | by ( Matt Egan | ) edition.cnn.com   time to read: +7 min
Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller. “If your entire social circle is on a social media platform, that’s a strong pull to sign up. ‘Meme stock’ argumentTrump recently received another 36 million shares of Trump Media as part of a bonus known as earnout shares. Including those new shares, Trump owns 114.75 million shares of Trump Media — a stake valued at $5.6 billion. Of course, Kennedy notes that there is a counter argument that Trump Media is not a typical social media stock, and so traditional metrics like growth and revenue don’t really matter.
Persons: Donald Trump, it’s, ”, Matthew Kennedy, Kennedy, “, Trump, Shannon Devine, ” Devine, Similarweb, Mark Zuckerberg’s Meta, Gettr, Tom Liu, Musk, ” Kennedy Organizations: New, New York CNN, Trump Media & Technology, Trump Media, CNN, Trump, Truth, Renaissance, Social, ” Trump Media, Elon Musk Locations: New York, Similarweb
☆ Trump Media’s accounting firm charged with ‘massive fraud’
  + stars: | 2024-05-03 | by ( Matt Egan | ) edition.cnn.com   time to read: +2 min
“Trump Media looks forward to working with new auditing partners in accordance with today’s SEC order,” Trump Media spokesperson Shannon Devine told CNN in a statement. According to filings, Borgers served as Trump Media’s independent registered accounting firm before the social media company went public in March. Later in March, the audit committee of Trump Media approved the hiring of Borgers as the public company’s accounting firm. The SEC review only focused on public companies, meaning BF Borgers’ work for Trump Media when it was private was not included. Trump Media is chaired and majority owned by former President Donald Trump, who is also the most popular user on Truth Social.
Persons: BF, Benjamin Borgers, “ Borgers, ” Gurbir Grewal, Trump Media , “, ”, Shannon Devine, Borgers, BF Borgers, Donald Trump Organizations: New, New York CNN, Trump Media & Technology, Securities and Exchange Commission, SEC, Truth Social, Trump Media, BF Borgers, “ Trump Media, ” Trump Media, CNN, Trump, Borgers Locations: New York
☆ Some Trump stock investors have already lost half their money
  + stars: | 2024-04-12 | by ( Matt Egan | ) edition.cnn.com   time to read: +2 min
New York CNN —Shares of Trump Media & Technology Group are in free fall. Trump Media is now trading below $31. Trump owns a dominant stake of 78.8 million shares in the company, which generates little revenue and is losing users. At the closing high for Trump Media’s stock price, the former president’s stake was valued at $5.2 billion. Trump Media disclosed losing $58 million in 2023 on very light revenue of just $4.1 million.
Persons: Donald Trump’s, Trump, ”, Shannon Devine, Capital’s Matthew Kennedy, Billionaire Barry Diller, ” Shannon Devine, it’s Organizations: New, New York CNN, Trump Media & Technology Group, Trump Media, Nasdaq, Trump, Big Tech, ” Trump Media, CNN, Expedia, People Magazine, IAC, CNBC Locations: New York
☆ Trump Media stock sinks to post-merger low
  + stars: | 2024-04-05 | by ( Matt Egan | ) edition.cnn.com   time to read: +1 min
CNN —Shares of Truth Social owner Trump Media & Technology Group tumbled 12% on Friday, sinking to their lowest level since the company went public last week. Despite this week’s losses, Trump Media shares have still spiked by more than 130% so far this year. Trump Media recently disclosed losing $58 million last year on very light revenue of just $4.1 million. Barry Diller, the billionaire chairman of Expedia and People Magazine owner IAC, told CNBC on Thursday that Trump Media is a “scam” and people buying the stock are “dopes.”“I mean, it’s ridiculous,” Diller said on CNBC. “The company has no revenue.”A Trump Media spokesperson denounced critics of the company.
Persons: Donald Trump’s, Barry Diller, ”, ” Diller, Trump, ” Shannon Devine Organizations: CNN, Social, Trump Media & Technology Group, Trump Media, Nasdaq, Trump Media’s, Wall Street, Expedia, People Magazine, IAC, CNBC Locations: ”
☆ Top tips for saving money at Disney parks while traveling with a family on a budget
  + stars: | 2022-11-27 | by ( Gabrielle Reeder | ) www.businessinsider.com   time to read: +8 min
For non-Florida residents who want to visit Disney World, purchasing a vacation package is cost-effective, travel agent Shannon Devine told Insider. For non-Florida residents, purchasing a Disney World vacation package is cost-effective, Shannon Devine, an independent travel agent with Academy Travel who specializes in planning Disney family vacations told Insider. A view of Disney's Grand Floridian Resort main entrance at Walt Disney World. Disney Tsum Tsums or smaller stuffed animals are at Walmart or Target for a fraction of Disney parks' costs. For an estimate of Disney trip costs, visit the Disney World Coast Calculator.
☆ A former 'The Apprentice' contestant who first pitched Truth Social to Trump has left the company behind the app, report says
  + stars: | 2022-06-29 | by ( Isobel Asher Hamilton | ) www.businessinsider.com   time to read: +3 min
Andy Dean Litinsky, a senior exec at the company behind Truth Social, left months ago Reuters reports. Litinsky is a former "The Apprentice" contestant who reportedly pitched Truth Social to Donald Trump. Andy Dean Litinsky — who sometimes goes by just Andy Dean — appeared as a contestant on the first season of "The Apprentice" with Trump in 2004, and was hired by Trump in 2006 to head up his production company Trump Productions. The New York Times, The Guardian, and Reuters reported Litinsky pitched the idea for Truth Social to Trump along with fellow former "The Apprentice" cast member Wes Moss in January 2021. One source told The Guardian in April that Litinsky and Moss were the "senior, day-to-day leadership" at Trump Media and Technology Group, the company behind Truth Social.
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