Trump Media Stock Plummets After Truth Social Announces Live TV Streaming Platform [Video]

This story originally appeared on Quartz.

Shares of Trump Media & Technology Group, the company behind former President Donald Trump’s social media platform Truth Social, fell sharply again Tuesday after it announced that it’s launching a streaming platform.

Truth Social will stream live TV, the company said, including news, religious channels, “family-friendly content,” as well as “other content that has been canceled, is at risk of cancellation, or is being suppressed on other platforms and services. Trump Media said that much like Truth Social itself, the streaming platform will be “independent of Big Tech.”

Trump Media stock dropped more than 10% and traded at $23.85 per share in mid-morning trading Tuesday following the announcement. That brings the company’s market capitalization to below $3.4 billion — cutting its market valuation by more than half since its first-trading-week highs.

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