{"id":119558,"date":"2024-10-29T04:48:47","date_gmt":"2024-10-28T21:48:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=119558"},"modified":"2024-10-29T04:48:47","modified_gmt":"2024-10-28T21:48:47","slug":"trump-media-worth-more-than-elon-musks-x","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=119558","title":{"rendered":"Trump Media Worth More Than Elon Musk&#8217;s X"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tTrump Media &amp; Technology Group, which operates the Truth Social social-media network, has seen its stock soar in the weeks leading up to the Nov. 5 presidential election \u2014 and it is currently worth more than <a href=\"https:\/\/variety.com\/t\/elon-musk\/\" id=\"auto-tag_elon-musk\" data-tag=\"elon-musk\">Elon Musk<\/a>\u2018s <a href=\"https:\/\/variety.com\/t\/x\/\" id=\"auto-tag_x\" data-tag=\"x\">X<\/a>, the social-media company formerly known as Twitter.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tOn Monday, shares of TMTG, which trade under the symbol \u201cDJT,\u201d finished the day up 21.6% to $47.36\/share in regular trading. The latest surge followed Trump\u2019s Sunday rally at New York City\u2019s Madison Square Garden. That gives TMTG, which has reported total revenue of $1.6 million for the first half of 2024 and steep losses, a market capitalization of approximately $9.48 billion.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tMusk, who acquired Twitter in 2022 in a $44 billion deal, has seen the value of the company \u2014 which he renamed X \u2014 decline significantly since his takeover. A disclosure last month by Fidelity, which owns a minority stake in X, implied that the investment firm values the company at $9.4 billion, as <a href=\"https:\/\/www.cnn.com\/2024\/10\/02\/business\/elon-musk-twitter-x-fidelity\/index.html\" rel=\"nofollow noopener\" target=\"_blank\">reported<\/a> by CNN (although the report noted that \u201cother investors could value X differently\u201d).<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tTrump beneficially owns 56.6% of TMTG\u2019s outstanding shares, making his stake currently worth north of $5.3 billion.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tIndustry analysts believe the jump in TMTG\u2019s stock price reflects growing enthusiasm among its investors that Trump will win the 2024 presidential election over VP Kamala Harris. Referring to TMTG\u2019s surging stock price, Gene Munster, managing partner of venture-capital firm Deepwater Asset Management, <a href=\"https:\/\/www.cnn.com\/2024\/10\/28\/business\/trump-social-media-stock-election\/index.html\" rel=\"nofollow noopener\" target=\"_blank\">told CNN<\/a> in an article published Monday, \u201cI\u2019ve never seen anything quite like this. This company\u2019s value is almost entirely based on the outcome of an election.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tMusk, the world\u2019s richest individual who is the CEO of Tesla and SpaceX, is also a major Trump backer. The techno-billionaire spoke Sunday at Trump\u2019s MSG event.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tTMTG, which trades on the Nasdaq, hit a recent low closing price of $12.15 per share on Sept. 23 in the wake of the expiration of a six-month lockup period during which TMTG insiders were not allowed to sell their stock. Trump has said he has \u201cabsolutely no intention\u201d of selling his shares.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tTMTG has not released any notable financial news that would have prompted the massive rally for the stock. For the second quarter of 2024, TMTG reported $836,900 in net sales and a net loss of $16.37 million, per its 10-Q SEC filing for the period. For Q1, the company reported $770,500 in revenue and a\u00a0net loss of $327.6 million; most of the loss for the first three months of the year was due to expenses associated with TMTG\u2019s merger with special purpose acquisition company Digital World Acquisition Corp. to become a publicly traded company.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tTMTG calls Truth Social a \u201csafe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.\u201d Trump formed TMTG in 2021 after the former president had been kicked off Twitter (now called X), Facebook, Instagram, YouTube and other internet platforms, which said he had violated prohibitions against inciting violence in connection with the Jan. 6, 2021, attack on the U.S. Capitol.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\t<a href=\"https:\/\/variety.com\/2022\/digital\/news\/donald-trump-reinstated-twitter-musk-1235437878\/\">Musk reinstated Trump\u2019s account on X<\/a> shortly after the tech mogul closed the Twitter deal, and the former president also has been let back on Meta\u2019s Facebook and Instagram, YouTube and others. However, Truth Social remains Trump\u2019s preferred social media platform.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto  lrv-a-font-body-m   \">\n\tTruth Social launched in early 2022. The company has not disclosed how many people use Truth Social, saying in a recent filing that, \u201cAt this juncture in its development, TMTG believes that adhering to traditional key performance indicators, such as signups, average revenue per user, ad impressions and pricing, or active user accounts including monthly and daily active users, could potentially divert its focus from strategic evaluation with respect to the progress and growth of its business.\u201d<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/variety.com\/2024\/digital\/news\/trump-media-djt-stock-value-elon-musk-x-1236192435\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump Media &amp; Technology Group, which operates the Truth Social social-media network, has seen its stock soar in the weeks leading up to the Nov. 5 presidential election \u2014 and &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=119558\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-119558","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=119558"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119558\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=119558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=119558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=119558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}