(Finance) – Reduction for Trump Media & Technology Groupwhich trades at a loss of 9.38% on previous values.
The company behind the former American president’s social network (Truth) closed the initial three months of 2024 in the red and with a drop in turnover. In the first quarter it recorded a net loss of 327.6 million, more than the loss of 210,300 dollars a year ago. THE revenues they slipped to $770,500 from $1.12 million in the same quarter of 2023.
The one-week trendtechnology company focused on social media is more sluggish compared to the trend of Nasdaq 100. This decline could trigger opportunities for the market to sell the stock.
For the medium term, the technical implications assumed by Trump Media & Technology Group they are still read in a positive light. The short-term indicators highlight a slowdown in the push phase in contrast with the price trend so, at this point, the marked slowdowns in the revaluation phase approaching USD 47.42 should not be surprising. The most immediate support is estimated at 41.24. Expectations are for an adjustment phase aimed at eliminating medium-term excesses and ensuring an adequate turnover of the operating currents with a target of 38.63, to be reached in a reasonably short time.