Trump Media stock falls after Trump reactivates X account

Shares of Trump Media and Technology Group (DJT) are under pressure on Monday following former President Donald Trump's return to X, the platform formerly known as Twitter. This development coincides with the announcement that the presidential candidate is scheduled to participate in a live conversation with X owner Elon Musk on the platform at 8 PM ET tonight.

Market Domination co-hosts Julie Hyman and Josh Schafer break down the details.

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This post was written by Angel Smith

Video Transcript

Let's talk about another trending ticker right now.

Trump Media and Technology Group sliding today the shares down 6.5%.

Former President Trump.

He's back on the site formerly known as Twitter.

For the first time in nearly a year, he posted multiple times on X.

Today he's also set to speak with Elon Musk Live on the platform at 8 p.m. Eastern.

That's one of the tweets that he came out with today, but notably he's allowed back on Twitter now.

He was banned for a long time, and then I think that he was invited back on, he said.

Never mind.

I don't want to be there.

But he is an investor in truth, social, which is the trump and technology is the parent company of truth, social.

So if he's not going to be on there as much or is going now to this broader platform, there's basically no reason to have a true social account.

Quite frankly, part of one of the main reasons is because the former president, a potential president elect, is on the platform, and that's where he's.

That's where he's sending his information right now, and people have liked to follow Trump's tweets for a while now, that's a big part of his personality.

And so I think people were going on the platform quite simply to follow him or be a part of that conversation.

If that conversation comes back to X, it certainly hurts the overall story for true social and kind of the pitch of why you should be on it well And Trump Media and Technology also announced a net loss late on Friday, $16.4 million.

So they're still losing money.

I mean, the other thing I would say is that even ex Trump X is getting Trump here.

In other words, you know, under the leadership of Elon Musk, it is sort of the conversation has taken a right word tilt led by musk and many of the people around him.

So if you were looking, even if even if without Trump, you were looking for that tenor of conversation, you were increasingly finding it on anyway.

Without the leaves you to the question of where is the person that wants to avoid that conversation to go now, right?

And is that where the opportunity reds blue sky?

I don't know the big conversation around that being threads and never really turned into it.

And I just wonder if that ever redevelops Is that where that conversation moves?

That is an excellent question.

I don't know the answer.