Saturday , December 28 2024

Musk's friendship proved costly! Trump's company's shares fell sharply, loss of 4 billion dollars | News India

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USA Presidential Election 2024: Donald Trump, the Republican Party's candidate in the next presidential election in the US, has suffered a major setback. Shares of Trump Media and Technology Group saw a record drop on Tuesday after Trump's return to social media platform 'X' after a long time. According to the report, Trump Media shares fell more than 4% to a low of $21.33. The shares last closed 1.8% lower at $21.84. Shares of Trump's company have been falling continuously for the last 8 days.

The setback that Trump has been receiving in the market for the last few days has now increased the uncertainty about whether Trump will win the next election or not. Let us tell you that after the attack on Trump a few days ago, the stock price of Trump Media and Technology Group had a record jump. But now it is declining. Earlier this month, Trump Media (whose main property is the Truth app) reported a loss of $16.4 million and revenue of $837,000 for the quarter. The company's market value is now around $4.3 billion, down from more than $8 billion earlier this year.

Trump active on X before meeting Musk

Trump returned to X last week after nearly a year. He also interviewed Elon Musk. After being suspended from Twitter, Trump launched his new social media platform.

What did Trump say in the interview?

In this interview, Trump commented on Biden, Kamala Harris and the battles being fought on many fronts around the world. In the interview, Trump also talked about the attack on him and said that it was a terrible experience. I immediately realized that I was attacked, bullets were fired. After this attack, my faith in God has increased.