By Andrea Espinoza
05 Aug 2024, 16:56 PM EDT
Since July 21, the date on which Kamala Harris appeared in the political arena to compete for the presidency of the nation, The Truth Social platform, of which Donald Trump is a majority shareholder, has lost $900 million in value.
In the financial market, the value of a company’s shares is determined by different variables, which allow them to strengthen or depreciate even in a matter of minutes.
Regarding Truth Social, its value rose slightly in June after Joe Biden’s disastrous performance in the presidential debate, which led him to give up his dreams of re-election and with them the image of the New York magnate was strengthened, subsequently Trump’s company’s value soared again after he was saved from death in an attack during a speech in Butler, Pennsylvania.
However, the panorama of a turnaround from the moment Joe Biden endorsed Kamala Harris to become his replacement as presidential candidate, from that moment on the wave of support obtained for the 59-year-old Californian was reflected in the enormous amount of money she began to raise through donations until exceeding $310 million dollars.
This is how the price of Truth Media shares once again experienced extreme turbulence that is still insurmountable. As of July 19, the value of the platform was just over $4 billion, however, Currently, indicators show that it has fallen to about $3.1 billion.
The good news for the New York tycoon, who as a majority shareholder owns more than 114 million shares of Truth Media, is that heIn the coming weeks, a streaming service will be available, which makes it an attractive thing to explore for users who want to catch up on what they have broadcast throughout the week, or for those who choose to watch the DVR signal and video on demand, with this new offer the shareholders hope to stop the massive sale of shares registered in the middle of the week which harmed the market value of the company.
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