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SARASOTA, Fla. - Trump Media and Technology Group Corp. (NASDAQ:DJT), trading at $14,397.70 and showing significant market activity with an average daily volume of 125.34M shares over the past three months, announced today the release of an update intended to improve the user experience. The update focuses on the Groups feature, which allows users to connect over shared interests. According to InvestingPro, the stock has retreated about 8% over the past week.
The newly overhauled Groups layout now includes an explorer feed, aimed at making it easier for users to discover and engage with new Groups and content. The update also provides administrators with enhanced control over their Groups, alongside new bot mitigation and security measures. The announcement comes as DJT trades near its 52-week low of $14,332.18, significantly below its high of $17,845.72.
Devin Nunes, CEO and Chairman of TMTG, emphasized the importance of the Groups feature, stating, "The Groups feature is a key element of the Truth Social platform, and this latest update makes the entire experience more user-friendly."
The update is already live on the web and is available for download at the Apple App Store for iOS devices and the Google Play Store for Android users. For those with automatic downloads enabled on the Truth Social app, the update will occur without the need for manual intervention.
This press release includes forward-looking statements concerning TMTG’s business and financial strategies, including the potential for future product rollouts and the success of its streaming services and FinTech platform. These statements are based on current expectations and projections and are not guarantees of future performance. For detailed analysis and additional insights into DJT’s valuation metrics and growth potential, visit InvestingPro, where subscribers can access exclusive financial metrics and expert analysis.
TMTG’s mission is to provide an alternative to the perceived censorship of Big Tech, promoting free speech through its platforms, which also include the streaming service Truth+ and the upcoming financial services and FinTech brand Truth.Fi.
The information for this article is based on a press release statement.
In other recent news, Trump Media and Technology Group Corp. (TMTG) announced its expansion into the financial services sector with the launch of Truth.Fi, a new brand that includes exchange-traded funds (ETFs) and separately managed accounts (SMAs). TMTG has committed up to $250 million, with Charles Schwab collaborating on the development of these financial products. Additionally, TMTG has partnered with Moov to introduce flexible payment options like credit cards and ACH transfers, enhancing its financial services offerings. The company aims to monetize its platforms and offer subscription packages for Truth+, under the Truth.Fi brand.
In legal developments, TMTG and its partner Rumble have filed an emergency motion in a U.S. federal court to challenge a Brazilian Supreme Court Justice’s order to suspend Rumble’s operations in Brazil. This legal dispute highlights the tension between national laws and global internet platforms’ policies. TMTG’s CEO, Devin Nunes, has been vocal about the company’s commitment to free speech and resistance against what they describe as harsh censorship practices. Meanwhile, the announcement of TMTG’s financial services expansion has impacted competitors, with Bakkt Holdings experiencing a decline in its stock value. The move is seen as a direct competition to Bakkt’s digital asset marketplace.
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