DJT Stock Alert: Truth Social Continues Losing Users

Trump Media & Technology (NASDAQ:DJT) shares are falling on Friday after news that the company’s social media platform Truth continues to lose users.

According to a report from Similarweb, Truth Social’s monthly active users fell 23% in April compared to the previous month. The company also notes that the site’s mobile users have declined by 13%.

That’s bad news for DJT stock, which has already struggled since its IPO earlier this year. This includes losing its auditor after it was discovered that the company had filed fraudulent documents with the Securities and Exchange Commission (SEC).

Additionally, former President Donald Trump remains embroiled in litigation. These include allegations that Trump paid hush money to adult film actress Stormy Daniels.

DJT stock movement today

DJT shares saw a decent move on Friday with around 4.6 million shares traded. That’s close to the company’s daily average trading volume of around 6.7 million shares.

DJT shares are down 3.8% since midday Friday. However, the stock is still up nearly 200% since its IPO earlier this year.

Investors will enjoy reading on today to find out more about the latest stock market stories.

We have the latest stock market news for you on Friday! This also includes what happens to the shares of SoundHound AI (NASDAQ:SOUN) share, Nio (NYSE:NOK) warehouse and Sweet green (NYSE:SG) Inventory today. You can find out more about all of these topics using the following links!

More stock market news from Friday

At the time of publication, William White did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.

Article printed by InvestorPlace Media, https://investorplace.com/2024/05/djt-stock-alert-truth-social-keeps-losing-users/.

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