Trump Media Stock Plummets 12% After Fox News Today Interview Sparks Investor Panic
Trump Media & Technology Group shares cratered 12% in Tuesday trading following a Fox News today interview where former President Donald Trump doubled down on controversial Truth Social revenue projections, sending CEO Devin Nunes scrambling to reassure institutional investors during an emergency call. The downturn wiped out $1.8 billion in market cap within hours, with analysts citing the interview's unspecific "record growth" claims as a catalyst for short-seller attacks. Meanwhile, rival media platform Rumble saw a 5% uptick as speculation mounted about advertiser exodus. "This signals a crisis of confidence in Trump's digital empire," one hedge fund manager told CNBC. The drop marks the company's steepest single-day loss since its SPAC merger closed last June.