:max_bytes(150000):strip_icc()/GettyImages-21126426422-d323e18253f84ca48ec2923762a1af07.jpg "Trump Media Stock Jumps on Launch of New Streaming TV Platform")
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Key Takeaways
- Trump Media shares jumped Friday after the operator of the Truth Social platform said it is launching a new streaming TV service.
- The media company of former President Donald Trump said the platform, called Truth+, would initially offer channels for news, commentary, weather, and lifestyle and entertainment content.
- The company called the launch its first phase of the service, and said the next phase will “feature the introduction of streaming apps integrated with the Truth Social platform.”
Trump Media & Technology Group (DJT) shares jumped over 7% Friday after the operator of former President Donald Trump’s Truth Social said it is launching a new streaming TV service.
Trump Media said the platform, called Truth+, will include channels offering news, commentary, weather, and lifestyle and entertainment content. It plans to expand programming as its streaming rollout continues, “focusing on news, Christian content, and family friendly content.”
CEO Devin Nunes said that with Truth+, ”we’re establishing a reliable home for great TV content that is neglected by the big corporations or is at risk of cancellation.”
Next Phase To Integrate Streaming Apps With Truth Social
The company called the launch its first phase of the service, with the next phase expected to “feature the introduction of streaming apps integrated with the Truth Social platform.”
Shares of Trump Media closed 7.4% higher Friday at $29.21 following the news. However, even with Friday’s gains, they’ve fallen over 55% from their all-time closing high on March 27, a day after the company’s trading debut.
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