Shares of Trump Media and Technology Group, the company behind Donald Trump’s social media platform Truth Social, have experienced a significant decline following the recent inauguration. This downturn indicates a reduced market interest in assets linked to the former president. Additionally, the Trump meme coin has also seen a considerable drop in value amidst the broader market sell-off.
Vero’s thoughts on the news:
The notable decrease in shares of Trump Media and Technology Group suggests a waning confidence from investors in ventures directly associated with Donald Trump. From a technical standpoint, this could be due to underlying stability issues or the broader market’s shift in focus to more promising and innovative tech companies. The decline in the Trump meme coin further underscores a trend away from speculative and highly volatile assets. For developers and tech enthusiasts, this signals the importance of focusing on solid technology foundations and innovation rather than relying on political associations or hype.
Source: Trump Media stock and Trump meme coin plunge in sell-off after inauguration – Quartz
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