There are a lot of threats to Trump Media & Technology Group’s business, at least according to the company. Among them are risks from former president Donald Trump’s involvement, media coverage, and competition from Elon Musk’s X, the company has said in regulatory filings.
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Trump launched his social media platform, Truth Social, in February 2022, after he was booted from major sites like Facebook and X (then Twitter). The site was marketed as a conservative answer to mainstream social media platforms, and has billed itself as a “platform for all Americans to freely express themselves.”
But the company is worried about a monopoly on free speech.
In a preliminary prospectus filed with the Securities and Exchange Commission dated Friday, Trump Media detailed its plans to issue millions more shares of its common stock tied to previously issued public warrants, as well as registering the resale of company securities.
Within the filing, Trump Media laid out several of the risks to its business. One of those was X’s business model under Musk. “As a private company under new ownership, X may demonstrate a sustained commitment to free speech principles that will heighten competition for users who prioritize such principle,” Trump Media remarked.
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