Shares of Trump Media & Technology Group (DJT) plummeted over 10% in pre-market trading on Tuesday, following Donald Trump's combative inauguration speech as the 47th President of the United States.
In his address, Trump vowed to prioritize "America's interests" and take on a "radical and corrupt establishment," hinting at a tougher stance on regulating social media companies. While he did not directly mention platforms like Truth Social, operated by TMTG, his rhetoric raised concerns about increased scrutiny or regulations for the company.
Investors interpreted Trump's rhetoric as a signal that his administration might adopt a more adversarial approach towards tech giants, potentially impacting TMTG's operations and growth prospects. The stock price plunge reflects the market's reaction to the perceived regulatory risks and uncertainties surrounding the company in the wake of Trump's inauguration speech.
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