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Trump Media shares fell by more than 8% Tuesday morning after the company announced its Truth Social platform is moving to launch a live TV streaming platform.
The sharp plummet of DJT shares came a day after they closed more than 18% lower.
Trump Media’s majority shareholder is former President Donald Trump.
The company’s market capitalization has decreased by more than $5 billion since its stock began public trading on March 26 after a merger with the shell company Digital World Acquisition Corp.
Trump Media shares that day opened at more than $70 and soared nearly to $80.
Shares were selling for $24.33 as of 9:50 a.m. ET Tuesday.
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