Trump Media CEO Resigns Amid Financial Struggles

Trump Media & Technology Group CEO Devin Nunes resigned on Tuesday evening, according to PANews. Kevin McGurn has been appointed as interim CEO. The company's stock, which peaked at $97.54 in early 2022, has since plummeted by approximately 90%, closing at $9.73 on Wednesday with a market capitalization of around $2.7 billion. Despite generating only $3.7 million in annual revenue and incurring losses of several hundred million dollars, Trump Media, the parent company of Truth Social, has struggled to maintain retail investor interest. Although U.S. President Donald Trump has used the platform to influence global markets, the company's expansion into prediction markets, cryptocurrency, investment, and even nuclear fusion has not succeeded in sustaining investor enthusiasm.