Top line
Trump Media & Technology Group shares have exceeded 7.5 % on Wednesday after the company announced that the financial service and the expansion of the FinTech brand, Truth.Fi.
The financial service brand was announced on Wednesday. (Photo photo Somodevilla/Getty Images)
Getty Image
Important facts
Trump media shares jumped from 7.9 % to $ 32.44 at 3:33 pm a few hours after the truth was announced.
Surge has shown a slight recovery for the true social parent company, and the price has fallen on Monday and Tuesday, and the stock price has been sent to the lowest this month ($ 29.53).
Trump media will start launching products and services this year, Truth.fi, but the details of the product are still very scarce.
According to statements, Charles Schwab detention of $ 250 million in the financial service business detained by Charles Schwab.
This fund was assigned to bonds, stocks, exchange trading funds (ETFs), bitcoin, and other cryptocurrencies, and Trump media has “manufactured, manufacturing, energy companies, and enhanced company investment in the United States. He says he is focusing on investment.
Trump media says that Truth.fi will be released, “American patriotes can create a financial ecosystem that can protect themselves from the threat of cancellation, censorship, removal, and privacy violation. Characterized as a goal.
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tangent
The release of Truth.fi is that President Donald Trump has recently been thrown at companies like Bank of America and JP Morgan Chase, and claims that major banks are discriminating conservative customers. I am. Meanwhile, Trump’s eldest son, Donald Trump Jr., has participated in the “waking up” e -commerce platform Publicsquare and conservative venture capital companies 1789 Capital.
Forbes evaluation
Donald Trump’s net assets are mostly intertwined with the performance of Trump Media’s shares, estimating that $ 250 million to $ 5.8 billion on Wednesday. President’s net assets reached $ 7 billion in the middle of this month.
Important background
Trump media shares slid through January and decreased by more than 10 % after $ 42.92 on January 13. However, after the victory in the Trump election in November, the stocks have stagnated most, indicating a change in stocks that have experienced volatility and experiencing experience. Drops since Trump Media was released earlier last year. The President owns 114,750,000 Trump media shares held in a canceled trust. Trump states that it is not planning to sell stocks worth about $ 3.9 billion on Wednesday.
Read more
Trump’s net assets rapidly increase to $ 7 billion -true social parents gather (Forb)
After Donald Trump has shifted $ 4 billion into trust, the truth social parent shares decreased by 6 % (Forbes)
