- Early trading on Monday saw a sharp increase in shares of Truth Social, the social networking platform run by former president Donald Trump. The rise started in the wake of an attempted assassination two days prior.
- In early trading on Monday, shares climbed about 30% to a price of $40. That figure marked the highest level for the stock in more than a month, but shares still stood well below a peak of about $62.
- Following a failed assassination attempt at a Trump rally in Butler, Pennsylvania, on Saturday, pre-market trading saw a sharp increase in shares. The stock has seen significant price swings in the past few days, which is indicative of the latest one.
- Following Trump’s felony conviction in his hush money case in May, the stock experienced a 15% decline initially, but it quickly recovered and exceeded its pre-conviction level. Shares soared in March, reaching a high of about $80 from their initial offering price of under $50. The price dropped by almost 70% during the next two weeks, to a low of roughly $23.
- Truth Social generated roughly $4 million in revenue last year, government filings show. Meanwhile, the company reported $58 million in net losses over that period. By comparison, Instagram-parent Meta delivered nearly $135 billion in revenue last year, company earnings revealed.
- Truth Social’s impressive showing on Monday might provide the business with a chance to reallocate capital and enhance the offering, according to Richey, who also mentioned the potential for a rise in users as long as Trump continues to garner attention in the months ahead.
- Early trading on Monday saw a sharp increase in shares of Truth Social, the social networking platform run by former president Donald Trump. The rise started in the wake of an attempted assassination two days prior.
- In early trading on Monday, shares climbed about 30% to a price of $40. That figure marked the highest level for the stock in more than a month, but shares still stood well below a peak of about $62.
- Following a failed assassination attempt at a Trump rally in Butler, Pennsylvania, on Saturday, pre-market trading saw a sharp increase in shares. The stock has seen significant price swings in the past few days, which is indicative of the latest one.
- Following Trump’s felony conviction in his hush money case in May, the stock experienced a 15% decline initially, but it quickly recovered and exceeded its pre-conviction level. Shares soared in March, reaching a high of about $80 from their initial offering price of under $50. The price dropped by almost 70% during the next two weeks, to a low of roughly $23.
- Truth Social generated roughly $4 million in revenue last year, government filings show. Meanwhile, the company reported $58 million in net losses over that period. By comparison, Instagram-parent Meta delivered nearly $135 billion in revenue last year, company earnings revealed.
- Truth Social’s impressive showing on Monday might provide the business with a chance to reallocate capital and enhance the offering, according to Richey, who also mentioned the potential for a rise in users as long as Trump continues to garner attention in the months ahead.