EFE
President Joe Biden mocked former President Donald Trump on Tuesday after shares of his media company, Trump Media, fell more than 10% on the stock market.
“I have to say that if Trump's stock in Truth Social, his company, falls further, he could do better with my tax plan than with his,” Biden said on a visit to his hometown of Scranton, Pennsylvania, drawing laughter. in the hearing, according to The Hill. "It's possible".
Biden's tongue-in-cheek comment comes because he is currently promoting his tax plan, promising that no one earning less than $400,000 will pay additional taxes under it.
In response to the Democratic president's comments, Trump's company said in a statement cited by The Hill: "Given that President Joe Biden posts regularly to his campaign account on Truth Social, we have faith that he sees the value of a start on social networks with freedom of expression that has no debt and more than 200 million dollars in the bank.”
Trump Media's losses
The collapse of Trump Media & Technology Group, the parent company of Truth Social, on the New York Stock Exchange occurs a day after its shares closed with a drop of more than 18% and when the former US president attends the second day of his criminal trial in a Manhattan court, the first criminal trial in US history against a former ruler, according to EFE.
It also occurred after they announced that their Truth Social application will offer a streaming television platform.
“We want our streaming content to focus on live television, including news networks, religious channels, family channels (…) and other content that has been canceled or is at risk of cancellation,” explained Trump Media. in a statement this Tuesday cited by EFE.
Despite this new implementation, Truth Social, which officially debuted in February 2022, has not yet revealed its active user count data, but has revealed a net loss of $58.2 million and revenue of just $4. .1 million in 2023.
