Peter Schiff Slams Trump's $100K Truth Social Early-Access Deal as Unethical
DJT sits 34% above its 52-week low of $6.96.
Summary
Economist Peter Schiff publicly criticized Trump Media's Truth API, which sells high-frequency traders early access to President Trump's posts for up to $100K/month. Schiff argues the arrangement is unethical because Trump owns the company and his posts move markets. The criticism adds to mounting political pressure, with lawmakers already urging an SEC investigation. The controversy comes as Trump Media reported a $238M Q2 net loss and the stock fell over 8% on Monday. The API has signed over 10 customers, but the backlash could threaten this new revenue stream.
At the time of this announcement, DJT was trading at $9.34 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.6B. 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: Benzinga.