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Stock Trump mediaThe Social Media App parent, Truth Social, has increased on Tuesday after announcing plans to expand it to financial services.
The company's shares have risen by 17 % in the news before the market.
Trump media said in a press release that the Board had approved up to $ 250 million to be managed by Charles Schwab. This movement works as a way to diversify cash preparations over $ 700 million at the end of 2024.
Devin Nunes, a TMTG CEO, states: “Truth.fi is a natural expansion of the true social movement. We have added a ultra -high -speed television streaming service with a free speech social media platform.
Trump media's financial services aim to provide investment opportunities to support what is called the Patriot economy. (Photo: Anna Barkley /Getty Image /Getty Image)
Trump transfers his true social parent company about $ 4 billion to share about $ 4 billion to trust himself.
“Developing the first investment vehicle in the United States is a robust eco -friendly that can protect yourself from the threats of violation of privacy, culminating, censorship, and taking off, committed by a large company in the United States and a wake -up company. Another step toward creating a system, “he added.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| DJT | Trump Media & Technology Group Corp | 32.85 | +2.81 |
+9.37 % |
The company, based in Sarasota, Florida, will be assigned these funds to various investment options, including exchanged sales funds (ETFs), individual managed accounts, bitcoin, and other similar cryptocurrencies. I said there was.
Look at the Trump family's business empire
DEVIN NUNES, the highest executive officer of Truth Social, during the conservative political action meeting (CPAC) held in Dallas, Texas, USA on August 5, 2022. (Getty Image /Delanholding Swears /Bloomberg via Getty Image)
The company said he was looking forward to various truths. Fi products and services, including multiple investment means, are expanded because new contracts are completed in 2025, financing levels are determined, and the necessary approval by financial regulatory authorities is approved.
TMTG said in a release that investment and financial products are expected to focus on the growth, manufacturing, energy companies, and investments that strengthen patriotism.
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Reuters contributed to this report.
