Trump Media & Technology Group Corp DJT stock maintained its upward momentum Tuesday, a day after the launch of its Truth+ streaming service on the web.
Users can access Truth+ streaming’s content through the web and an Android app. Trump Media is also considering launching an iOS app version and expanding the service to Apple Inc’s AAPL Apple TV, Android TV, Amazon.Com Inc‘s AMZN Amazon Fire, and more.
Also Read: Trump Media Stock Surges as Elon Musk Backs Trump at Pennsylvania Event
The Truth Social parent also got a boost from majority stock owner Donald Trump’s plans to launch his latest venture in the cryptocurrency world by introducing the WLFI token just weeks before the presidential election.
Those involved in the project suggest it will function as a crypto bank, enabling users to borrow, lend, and invest in digital assets, CNBC reports. The initial token sale aims to raise $300 million, valuing the project at $1.5 billion.
The former president and Republican candidate plans to unveil the token, which is tied to his new project, World Liberty Financial, describing it as a chance to influence the future of finance, as per CNBC.
Trump’s new crypto venture operates separately from Trump Media. However, Trump’s Media stock reflects every update concerning Trump, who maintained his stake in the Truth Social parent despite the expiry of the lockup period.
The WLFI token will serve as a governance tool, allowing investors to decide the platform’s direction.
Trump Media stock gained over 73% in the last 30 days as Trump’s stance over issues including the economy, immigration, and crime helped him gain leverage in the presidential fight against incumbent Vice President Kamala Harris.
Trump’s campaigns addressing the economy and border security won him voters’ confidence as a better leader. Border security is a burning issue, especially as geopolitical tensions escalate between Iran and Israel.
Different polls indicated Trump’s popularity as an eligible leader, defying assassination attempts.
Price Action: DJT stock is up 10.70% at $33.14 at the last check on Tuesday.
Also Read:
Image via Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
