Trump Media CEO Resigns, Stock Price Falls About 90% at Higher Point

According to Bloomberg, Devin Nunes, CEO of Trump Media and Technology Group, resigned on Tuesday night, with Kevin McGurn taking over as interim CEO. The company's stock price has fallen by about 90% from its high of $97.54 at the beginning of 2022, and closed at $9.73 on Wednesday, with a market value of approximately $2.7 billion. The company has an annual revenue of only 3.7 million US dollars and a loss of hundreds of millions of US dollars. Trump Media is the parent company of Truth Social, which has expanded its business into predictive markets, cryptocurrencies, and other fields, but has failed to attract the interest of retail investors.