Trump Media shares fall more than 10%, company says Truth Social to launch TV streaming

Trump Media shares fell by more than 10% after the company announced its Truth Social app is moving to launch a live TV streaming platform.Trump Media's majority shareholder is former President Donald Trump, who is in court in New York for jury selection in his criminal hush money case., who holds nearly 60% of its stock. Trump is in court in New York for jury selection in his criminal hush money case.

Earlier Tuesday, Trump Media in a press release said it "has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network." Phase two will release stand-alone Truth Social streaming apps for phones, tablets and other devices, while phase three will release such apps for home television, Trump Media said.

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