Devin Nunes Steps Down as CEO of Trump Media After Four Years Amid Stock Struggles

Claim 1 In the previous year, Trump Media generated $3.7 million in revenue and incurred a net loss of $712 million. Evidence The company’s latest earnings report showed $3.7 million revenue for 2024 and a net loss of about $712 million, while operating cash flow improved to $14.8 million. Verdict True Analysis Multiple financial filings and news outlets confirm these figures, indicating the claim accurately reflects Trump Media’s 2024 financial performance.

Claim 2 Trump Media's stock opened at approximately $58 per share on its first day of trading and closed at $9.82 per share on the following Tuesday. Evidence Trading data show the stock debuted around $58 a share and, by the subsequent Tuesday, had fallen to $9.82. Verdict True Analysis Financial news sources and market data consistently report these opening and closing prices, supporting the claim.

Claim 3 In December, Trump Media announced a merger plan with fusion power company TAE Technologies, valuing the all‑stock deal at $6 billion, which would create one of the first publicly traded nuclear fusion companies. Evidence The company disclosed a merger plan with TAE Technologies and cited a $6 billion all‑stock valuation, but the announcement timing was not in December; the plan was revealed earlier. Verdict False Analysis While the valuation and the nature of TAE Technologies as a fusion‑focused firm are correct, the December announcement date is not substantiated by available reports, making the claim inaccurate.

Watch for how interim CEO Kevin McGurn navigates the stalled merger talks and any potential spin‑off of Truth Social.