Trump Media shares surge after company announces expansion into financial services
Trump Media, the parent of Truth Social, said in a press release that its board approved an investment of up to $250 million to be custodied by Charles Schwab.
Shares of Trump Media, the parent of social media app Truth Social, surged on Tuesday after announcing plans to expand into financial services.
The company's stock climbed as much as 17% in premarket trading on the news.
Trump Media said in a press release that its board approved an investment of up to $250 million to be custodied by Charles Schwab.
The Sarasota, Florida-based company said it plans to allocate these funds into various investment options, including exchange-traded funds, separately managed accounts, Bitcoin, and other similar cryptocurrencies.
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