Shares of Trump Media & Technology Group, which is owned by the U.S. presidential candidate, Republican Donald Trump, fell to a record low, according to Reuters.
Shares of Trump Media fell more than 4% to USD 21.33. As a result of trading, they stopped at USD 21.42, losing 3.7%, which became the eighth consecutive session of losses.
Analysts note that this result is related to Donald Trump's public activities. First of all, attention to social networks X (Twitter), as it is a direct competitor of Trump Media.
As you know, Trump restored his X (Twitter) account, gave an interview to the current owner of the platform, Elon Musk, and then declared that he was ready to offer him a public position if he won the election.
In addition, the decline in Trump's rating in the polls also had a negative impact on the company's shares.
Earlier, Trump Media, whose main asset is the Truth Social mobile application, reported a quarterly loss of USD 16.4 million and revenue of only USD 837,000. The company's market value has shrunk to about USD 4.3 billion, down from more than USD 8 billion at the start of the year. During the presentation of Truth Social, Trump positioned the service as a social network without censorship.
As previously reported, Kamala Harris narrowly leads Trump in five of seven key states.
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