US EditionPublished • loading... • Updated
Trump Media has pivoted to crypto, financial services and nuclear fusion. Its stock keeps falling.
The company lost more than $1 billion in two years as it added bitcoin buying and a fusion merger, even after naming a new CEO.
- On Tuesday, Trump Media replaced longtime CEO Devin Nunes with Kevin McGurn, a seasoned digital executive who previously worked at NBC Universal, Hulu, and DoubleClick.
- Launched four years ago as a "free speech" alternative, Truth Social sought to challenge Facebook and Twitter but has struggled to attract users beyond core supporters, draining resources.
- Trump Media has lost more than $1 billion in two years, with stock plunging from about $62 to single digits, forcing diversification into cryptocurrency and nuclear fusion to create a "digital ecosystem."
- On Wednesday, company stock fell 3.5% to $9.48 despite McGurn's appointment, extending losses to more than 60% since Donald Trump was reelected president in November 2024.
- Richard Painter, a former White House ethics lawyer, warned that The United States government is getting involved in the "burgeoning fusion private sector industry," highlighting potential conflicts of interest.
Insights by Ground AI
13 Articles
13 Articles
Associated Press News+10 Reposted by 10 other sources
Trump Media has pivoted to crypto, financial services and nuclear fusion. Its stock keeps falling.
The Trump family's alternative to Facebook and Twitter is shaking up its leadership in hopes of reviving the struggling business.
·United States
Read Full Article
Devin Nunes Out as CEO of Trump Media & Technology
Former California lawmaker Devin Nunes is exiting his role as CEO of Trump Media & Technology, the social media and crypto currency company formed by the Trump family after the former president was barred from social media platforms for his role in the Jan. 6, 2021, Congressional riots. Nunes is being replaced by former Hulu … Continue reading "Devin Nunes Out as CEO of Trump Media & Technology" The post Devin Nunes Out as CEO of Trump Media & T…
Coverage Details
Total News Sources13
Leaning Left4Leaning Right3Center4Last UpdatedBias Distribution37% Left, 36% Center
Bias Distribution
- 37% of the sources lean Left, 36% of the sources are Center
37% Left
L 37%
C 36%
R 27%
Factuality
To view factuality data please Upgrade to Premium
