By Free Republic | Created at 2024-10-30 09:04:07 | Updated at 2024-10-30 11:32:26
2 hours ago
Truth Social parent company Trump Media now worth more than Elon Musk’s X as Election Day nears
Newsweek ^ | 29 Oct 2024 | Natalie Venegas
Posted on 10/30/2024 2:01:35 AM PDT by blueplum
Former President Donald Trump's social media company, Truth Social, has surged past Elon Musk's X (formerly Twitter) in market value.
Trump Media & Technology Group (TMTG), Truth Social's parent company, now holds a valuation of just over $10 billion, after its shares more than quadrupled since late September. This valuation leap moves it above X Holdings, which Fidelity most recently valued at $9.4 billion....
On Tuesday, TMTG shares rose 9 percent to close at $51.51, following a 21.6 percent gain the day before. Trading was so intense that it triggered multiple halts, a stark contrast to the stock's low of approximately $12 just last month....
(Excerpt) Read more at newsweek.com ...
TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: stocks; trump; truthsocial
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Trump owns 57% of Truth Social. The increase in valuation pushes his personal stake to over $4 Billion. Truth Social was visited 13.5 million times last month, compared to 706 million times for X.
1 posted on 10/30/2024 2:01:35 AM PDT by blueplum
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