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Trump Media Slashes Losses with Pivot to Core Business

Guavy AI Editorial Team
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Trump Media & Technology, the company behind Truth Social, posted a massive loss in the second quarter of $238 million. This is over 10 times the loss from a year earlier and significantly wider than the previous per-share loss of 8 cents.

The company's new CEO, Kevin McGurn, announced plans to ditch several business lines, including crypto ventures, and refocus on its core social media mission.

McGurn cited a yearlong effort to expand into various industries as the reason for the pivot, stating that the company will now 'say no to things or change course as warranted.'

The Truth API service, which offers early access to Wall Street trading firms for top posters on Truth Social, including President Donald Trump, was a key part of this effort.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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