Donald Trump's firm shares crash near historic lows. Is interview with Elon Musk to be blamed?
Donald Trump's media company shares dipped and neared record lows on Wednesday. This comes after following weak quarterly results and the Republican presidential candidate's return to social media platform X.
Trump's dwindling lead in polls and election betting markets in recent weeks has also hit the stock, which has been seen by some retail traders as a bet on whether Trump would win a second term, as per Reuters report.
Trump majority owns Trump Media & Technology Group, whose main asset is the Truth Social app popular among some conservatives. On Tuesday, Trump marked his return to X with an interview with the platform owner Elon Musk.
Twitter suspended Trump's account in January 2021, but it was reinstated by Musk in 2022 after he bought the site and took it private. The former president has made several posts in recent days.
As many as 1.3 million people tuned in to the lengthy conversation where the pair discussed topics ranging from the assassination attempt on Trump to geopolitics and the economy.
The fact that the conversation took place on X instead of Trump's rival platform Truth Social highlighted to investors that the latter remains a niche player in the social media landscape, analysts said.
«The decision to broadcast the chat with Musk on X was something of a slap in the face for Trump investors who must be feeling rather unloved and a little disrespected,» said Dannie Hewson, head of financial analysis at AJ Bell.
Trump frequently posts on his Truth Social platform, which was launched in
