Trump Media & Technology Group Corp DJT is trading higher Monday, buoyed by the successful launch of its Truth+ app for Apple Inc AAPL iOS devices and Apple TV, as promised earlier.
Previously launched on the Alphabet Inc GOOG GOOGL Google Play Store and the web, Truth+ expands Truth Social’s streaming capabilities by offering new features.
Devin Nunes, TMTG’s CEO, said that the company plans to introduce native apps for additional platforms, including Samsung, LG, Android TV, Amazon Fire, and Roku.
The Truth Social parent has priced Trump’s every move, from presidential election poll results to his “America First” mandate.
The stock surged over 143% in the last 30 days as Trump retained his majority stake in the company despite the expiry of the lockup period.
Trump Media stock is also hogging the limelight over an internal whistleblower complaint. The whistleblower has called for removing CEO Devin Nunes, alleging that his mismanagement has exposed the company to significant legal risks.
The letter claims Nunes’ decisions have led to potential regulatory action and undermined the company’s core values, ProPublica reports.
The complaint also accuses Nunes of prioritizing hiring foreign contractors over American workers, contradicting the “America First” principles espoused by Donald Trump, the company’s majority owner.
In addition to the staffing issues, Nunes allegedly hired unqualified members of his inner circle and misled employees, the complaint claims.
These actions have reportedly driven several executives and staff members out of the company in recent months, with many alleging retaliation for raising concerns.
One of the complaint’s most serious accusations is that Nunes’ leadership has placed Trump Media at “substantial risk” of legal action from regulators, vendors, and shareholders.
Trump Media COO Andrew Northwa resigned effective September 28, 2024, for undisclosed reasons. The company shared plans to transition his duties internally.
Price Action: DJT stock is up 6.42% at $31.48 at the last check on Monday.
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