Trump Media & Technology (NASDAQ:DJT) stock is falling on Friday following news that the company’s Truth Social media platform continues to lose users.
According to a report from Similarweb, the monthly active users at Truth Social were down 23% in April when compared to the month prior. The firm also notes that mobile users on the website had decreased by 13%.
That’s bad news for DJT stock, which has already been dealing with troubles since going public earlier this year. That includes the loss of its auditor after the auditor was found to have submitted fraudulent filings to the U.S. Securities and Exchange Commission (SEC).
On top of that, former President Donald Trump continues to be caught up in a lawsuit. This includes allegations that Trump paid hush money to adult-film actress Stormy Daniels.
DJT Stock Movement Today
DJT stock is seeing a decent amount of movement on Friday with some 4.6 million shares traded. That’s closing in on the company’s daily average trading volume of about 6.7 million shares.
DJT stock is down 3.8% as of noon Friday. Even so, the stock is still up nearly 200% since going public earlier this year.
Investors will want to keep reading for more of the latest stock market stories today.
We have all of the hottest stock market news available on Friday! That includes what’s happening with shares of SoundHound AI (NASDAQ:SOUN) stock, Nio (NYSE:NIO) stock and Sweetgreen (NYSE:SG) stock today. You can read up on all of these matters at the links below!
More Friday Stock Market News
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
