Shares of Trump Media and Technology Group Corp. (DJT) saw a 1.5% uptick in premarket trading following the announcement of Truth Social's plan to launch a live TV streaming network. This development comes after a recent share offering disclosure led to an 18.4% decline in DJT stock, marking a significant rebound for the company.
Truth Social, led by CEO Devin Nunes, revealed its completion of the research and development phase for its content-delivery network (CDN), aiming to provide a platform for high-quality news and entertainment content facing discrimination on other channels. Nunes emphasized the platform's commitment to hosting content that struggles to find an audience elsewhere due to unjust reasons.
The launch of the CDN will occur in three phases: integration into the Truth Social app, standalone "over-the-top" streaming apps, and streaming apps for TV. The content will include live TV news, religious channels, family-friendly films, and documentaries, as well as content that has been marginalized or suppressed on other platforms. Despite recent selloffs, DJT stock has surged 52.1% year-to-date, outperforming the S&P 500 index.
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