After the earnings report was released, DJT shares remained fairly stable in post-market trading. Interestingly, the report had not received much publicity beforehand. However, it is worth noting that the stock had experienced a 5% decline by the end of the trading day, resulting in a share price of $48.
The DJT stock has been on a wild ride since its initial public offering, exhibiting a meme stock-like trajectory. At times, it has experienced significant fluctuations, both upward and downward, without any substantial news to explain these dramatic swings.
In a statement released on Monday, TMTG CEO Devin Nunes announced that the company is actively exploring various initiatives and innovations to further develop the Truth Social platform. This includes the possibility of engaging in mergers and acquisitions activities to enhance its offerings.
According to Nunes, the development of a content delivery network for live TV streaming is a significant step forward for the platform. This move is expected to greatly enhance the user experience and is a cause for excitement.
In April, the company made an announcement about the launch of Truth Social’s TV streaming platform. The launch would happen in three phases. The first phase would cover Android, iOS, and Web platforms. In the second phase, stand-alone apps would be rolled out for phones, tablets, and other devices. Finally, the third phase would focus on launching the platform for home television.
Trump Media announced in its first-quarter report that it has successfully secured contracts with its inaugural data center partner. This partnership will enable the hosting of the TV platform, while a reliable hardware vendor has also been selected to provide the necessary equipment.
Last week, the company informed the SEC about its decision to postpone the quarterly filing. This decision came after the agency accused its former auditor, BF Borgers CPA, of engaging in “massive fraud” involving numerous companies. The SEC’s charges have raised concerns regarding the accuracy of the financial information audited by the firm.
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