Lawsuit Targets Trump's $100K/Month Truth Social Data Feed
DJT sits 19% above its 52-week low of $6.96.
Summary
The Intercept and Freedom of the Press Foundation sued President Trump, two aides, and the Executive Office of the President over Truth API, the premium data feed launched by Trump Media. The suit alleges the service, priced at $100,000 per month or $60,000 with a three-year commitment, lets Trump profit from faster access to official posts. The feed covers the 10 most prominent accounts, including Trump, VP Vance, FBI Director Patel, and Press Secretary Leavitt. This follows the July 20 launch announcement and the August 10 8-K confirming early traction with over 10 customers. The legal challenge could threaten a revenue stream the company has highlighted as a growth area, and it raises constitutional questions about monetizing official communications.
At the time of this announcement, DJT was trading at $8.31 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $6.96 to $18.97. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.