Another day, another plummet for social media platform Truth Social (NASDAQ:DJT), as shares plunged 12.5% in Tuesday afternoon’s trading. And for once, there’s a reason beyond Trump’s latest legal hassles: Truth Social revealed a plan to actually start making some money: streaming video.
For a while, there were some out there who questioned the value of Truth Social because it didn’t seem to have much of a plan beyond “being the social media platform connected to a former president.” There were also some vague mentions about a lack of censorship, but with X—formerly Twitter—the way it is now, that may be less of a competitive advantage.
Anyway, now, Truth Social is looking to launch its own live TV streaming platform, which will be rolled out in three phases. The first of these is a content delivery network for Android, iOS, and web platforms. A stand-alone app will follow, and then finally, one for home televisions. As for content, it will focus on “…news networks, religious channels, family-friendly content including films and documentaries, and other content that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services.”
A Potential Gold Mine
There’s little about Truth Social’s plan that hasn’t already been done. But that last line about cancellation or suppression is, potentially, a winner par excellence. Why? Because there is a lot of content out there, particularly older content, that simply can’t be found anywhere else. It’s one of the Achilles’ heels of streaming right now.
For instance, anyone who wanted to watch the 1987 Suzanne Somers vehicle She’s the Sheriff would have no choice but to either pirate or find old recordings on VHS tapes. It’s literally unavailable anywhere, notes Reelgood. If Truth Social can dig up these old skeletons and be the only game in town to watch them, it could be a coup. Otherwise forgotten movies like 1995’s Major Payne have already proven winners for streaming services, so it may be the place for Truth Social to score a win.
Is DJT Stock a Good Buy Right Now?
A look at the last five trading days for DJT stock shows what you’d expect: a continuous overall decline. While there have been rallies involved in all of the declines, making a marvelous example of a sawtooth graph, the end result is still a downward overall cant.
Is It Wise to Allocate $1,000 Toward DJT Stock Right Now?
Before you hurry to invest in DJT, think about the following:
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