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SARASOTA, Fla. - Trump Media and Technology Group Corp. (NASDAQ:DJT), known for its social media platform Truth Social, has expanded its reach into streaming services with the launch of a Truth+ app for Roku TV devices. Trading at $14,619.60 with an average daily volume of 126.9 million shares, the stock has shown significant market interest. The app, which is now available in the Roku Channel Store, offers a variety of family-friendly programming including live TV channels, with plans to add Video on Demand (VOD) content in the near future. InvestingPro subscribers can access detailed financial metrics and expert insights about DJT’s growth trajectory.
TMTG’s streaming platform, Truth+, is marketed as an alternative to mainstream entertainment and news outlets, providing content that includes news broadcasts, weather, documentaries, children’s shows, and faith-based programming. The service is already accessible on iOS and Android devices, Apple TVs, Android TVs, Amazon Fire TVs, and via the web.
The new Roku app allows users to access live TV channels and features such as live TV rewind, catch-up TV for up to seven days, network DVR, and a Spanish language interface. Roku TV owners can download the app and sign in using a QR code or passcode, with the option to create a Truth Social account during the process.
Devin Nunes, CEO and Chairman of TMTG, emphasized the company’s commitment to providing non-woke TV and movie options and an alternative to legacy news channels. TMTG also announced plans to develop native apps for additional connected TV platforms, including Samsung and LG, and to continue improving its streaming technology based on user feedback.
TMTG claims its streaming technology is built on a custom-designed, multi-site Content Delivery Network (CDN) with the company’s own servers and software stack, aiming to make the service resilient to potential actions by larger tech companies. The company’s stock has moved within a 52-week range of $14,332.18 to $17,845.72, reflecting market sentiment around its technological initiatives. For comprehensive analysis of DJT’s market position and growth potential, InvestingPro offers exclusive insights and real-time metrics.
The press release included forward-looking statements regarding TMTG’s business strategies and anticipated rollout of products and services, cautioning that these statements are not guarantees of future performance and are subject to risks and uncertainties. The stock has recorded a year-to-date return of -8.03%, with a six-month decline of -10.48%, highlighting the importance of monitoring market developments.
The information provided is based on a press release statement from Trump Media & Technology Group.
In other recent news, Trump Media and Technology Group Corp. (TMTG) has announced several significant developments. The company unveiled an update to its Truth Social platform, focusing on enhancing the Groups feature with improved user experience and security measures. Additionally, TMTG, in collaboration with Rumble, has filed a legal motion in response to a Brazilian Supreme Court order that suspended Rumble’s operations in Brazil. The legal action seeks to challenge the enforceability of the order in the United States.
In another move, TMTG plans to expand into the financial services sector with the launch of America First-themed investment products under the Truth.Fi brand. The company has filed trademark applications for a range of exchange-traded funds and separately managed accounts. A partnership with Charles Schwab has been established, committing up to $250 million to develop these financial products. Furthermore, TMTG has partnered with payment processor Moov to introduce flexible payment options for its platforms, aiming to enhance financial services offerings and monetize its services.
These developments come amid a backdrop of competition, as evidenced by Bakkt Holdings’ stock decline following TMTG’s fintech expansion announcement. TMTG’s strategic initiatives reflect its commitment to diversifying its business operations and providing alternatives to traditional financial and tech services.
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