Shares of former U.S. President Donald Trump's media company dipped and neared record lows on Wednesday, following weak quarterly results and the Republican presidential candidate's return to social media platform X.
Trump's dwindling lead in polls and election betting markets in recent weeks has also hit the stock, which has been seen by some retail traders as a bet on whether Trump would win a second term.
Trump majority owns Trump Media & Technology Group DJT.O, whose main asset is the Truth Social app popular among some conservatives.
On Tuesday, Trump marked his return to X with an interview with the platform owner Elon Musk.
Twitter suspended Trump's accountin January 2021, but it was reinstated by Musk in 2022 after he bought the site and took it private. The former president has made several posts in recent days.
As many as 1.3 million people tuned in to the lengthy conversation where the pair discussed topics ranging from the assassination attempt on Trump to geopolitics and the economy.
The fact that the conversation took place on X instead of Trump's rival platform Truth Social highlighted to investors that the latter remains a niche player in the social media landscape, analysts said.
"The decision to broadcast the chat with Musk on X was something of a slap in the face for Trump investors who must be feeling rather unloved and a little disrespected," said Dannie Hewson, head of financial analysis at AJ Bell.
Trump frequently posts on his Truth Social platform, which was launched in February 2022, but his posts there reach a much smaller audience than on X.
With 83 days to go before the Nov. 5 U.S. presidential election, contracts for a Trump victory are trading at 45 cents, with a potential US$1 payoff if he wins. Trump contracts traded as high as 69 cents in mid-July before President Joe Biden dropped out of the race and was replaced by Vice President Kamala Harris.
Trump Media stock has lost more than half its value since going public in March. Its market valuation is down to US$4.73 billion from over US$9 billion earlier this year.
Shares were down 1.9 per cent at US$23.54 in trading on Wednesday. The stock tumbled to US$22.84 on April 16 after the company said it could sell millions of shares.
"The company's stock is slowly facing the truth of its upside-down financials," said Michael Ashley Schulman, chief investment officer at Running Point Capital.
Trump Media reported another quarterly loss on Fridayalong with a fall in revenue.
"Add to that the news that revenues were down 30 per cent compared to a year earlier and that a huge chunk of change has been spent on a licensing agreement to power new streaming service Truth+ and there will be concern about the future of the company if Trump's popularity dwindles further," Hewson said.
Analysts also raised concerns about the stock's performance if Trump fails to win the presidential elections in November.
"If Trump loses the presidential election, it may be a further blow to DJT shares; but even if he wins, the stock's time in the sun may have passed," Schulman added.
Prime Minister Justin Trudeau's caucus is meeting this morning for its weekly gathering, this time with much higher stakes, as an evolving number of MPs is expected to confront the leader and ask him to step down.
The Bank of Canada made a sizable cut to its key lending rate Wednesday from 4.25 per cent to 3.75 per cent as the global economy continues to expand. The half percentage point cut is the fourth rate cut in a row by the central bank as inflation dropped from 2.7 per cent in June to 1.6 per cent in September.
Gisele Pelicot, the 72-year-old victim of mass rape whose ordeal has shocked the world, told a trial in southern France on Wednesday that she was determined that making her case public should help other women and change society.
A recall has been issued for certain clothing items sold at Giant Tiger stores over high levels of lead, according to a notice published by Health Canada Tuesday.
A new report suggests that Canadians' exposure to a radioactive gas is increasing, putting millions of people at a higher risk of developing lung cancer.
The president and CEO of New Brunswick-based Covered Bridge Potato Chips is taking an 鈥渆xtended leave of absence鈥 after being charged with domestic violence this past weekend.
The XEC strain, a hybrid of Omicron subvariants KS.1.1 and KP.3.3, was first detected in Canada in mid-August and the number of COVID-19 cases with the XEC variant has rapidly increased.
In part two of a four-part investigation into the seedy underbelly of the lucrative clothing donation bin industry, CTV W5 uses trackers tp reveal a for-profit operation masquerading as a charity.
Police have confirmed the body of an employee who died at a Walmart in Halifax over the weekend was found in a walk-in oven.
The Bank of Canada made a sizable cut to its key lending rate Wednesday from 4.25 per cent to 3.75 per cent as the global economy continues to expand. The half percentage point cut is the fourth rate cut in a row by the central bank as inflation dropped from 2.7 per cent in June to 1.6 per cent in September.
A new report suggests that Canadians' exposure to a radioactive gas is increasing, putting millions of people at a higher risk of developing lung cancer.
A recall has been issued for certain clothing items sold at Giant Tiger stores over high levels of lead, according to a notice published by Health Canada Tuesday.
An oil salvage operation is underway on the fragile wreckage of a U.S. army transport ship that sank almost 80 years ago off coastal British Columbia in a race to head off an eruption of thousands of litres of oil that a coast guard official says is "near imminent."
Ellen Francis says she and her family were having a great time at one of Cuba's famously stunning beaches and exploring the popular tourist town of Varadero when the situation turned into something like a scary movie.
British Columbia's highest court has weighed in on a dispute over an inflatable hot tub a couple set up on their condo's patio 鈥 potentially bringing a close to the years-long conflict.
Donald Trump's longest-serving chief of staff is warning that the Republican presidential nominee meets the definition of a fascist and that while in office, Trump suggested that Nazi leader Adolf Hitler 'did some good things.'
A Polish radio station has triggered controversy after dismissing its journalists and relaunching this week with AI-generated 'presenters.'
French politicians are deeply divided over the fate of lawmaker Andy Kerbrat, caught last week buying synthetic drugs, and whether his breaking the law should push him to resign.
Ukraine will receive US$50 billion in loans, backed by frozen Russian assets, from Group of Seven allies, the White House said Wednesday. Distribution of the money will begin by year's end, according to American officials.
Assailants set off explosives and opened fire in an attack Wednesday on the premises of the Turkish state-run aerospace and defence company TUSAS, killing four people and wounding several, Turkish President Recep Tayyip Erdogan said.
Three people were found dead Wednesday and four others were hospitalized after an 'unexplained' incident at a care home in southern England, police said.
Prime Minister Justin Trudeau's caucus is meeting this morning for its weekly gathering, this time with much higher stakes, as an evolving number of MPs is expected to confront the leader and ask him to step down.
Prime Minister Justin Trudeau says he doesn't think his leadership is in danger, one day before a highly anticipated Liberal caucus meeting where his future at the helm of the Liberal party is expected to be up for discussion.
A debate has ground work in the House of Commons to a halt for weeks, but a new poll suggests that most Canadians are not even aware it's happening.
A day after after an E. coli outbreak tied to Quarter Pounders in the western part of the United States left one dead and 10 hospitalized, McDonald鈥檚 entered full damage-control mode.
A quick shake of the head after a hard hit could signal that a person has a concussion, a new study suggests, based on the experiences of young athletes.
A recall has been issued for certain clothing items sold at Giant Tiger stores over high levels of lead, according to a notice published by Health Canada Tuesday.
A massive space rock, estimated to be the size of four Mount Everests, slammed into Earth more than 3 billion years ago 鈥 and the impact could have been unexpectedly beneficial for the earliest forms of life on our planet, according to new research.
A meteor lit up our region's sky last night 鈥 with a large fireball shooting across the horizon over Lake Erie at around 7:00 p.m.
The estimated population of North Atlantic right whales increased in 2023, but a group of international marine scientists say human behaviour still poses a significant threat to the critically endangered species.
Harvey Weinstein's retrial on sex crimes charges in Manhattan won't start until at least next year 鈥 and his lawyer plans to hire a private investigator to look into a new allegation against the movie mogul that will now be part of the case.
An initial toxicology report for ex-One Direction singer Liam Payne, who died last week after falling from a third-floor hotel balcony in Buenos Aires, showed that he had cocaine in his system after his death, an Argentine official said.
Taylor Swift fans from far and wide will head to Toronto next month to see the superstar perform a series of six sold out shows at the Rogers Centre.
The Bank of Canada made a sizable cut to its key lending rate Wednesday from 4.25 per cent to 3.75 per cent as the global economy continues to expand. The half percentage point cut is the fourth rate cut in a row by the central bank as inflation dropped from 2.7 per cent in June to 1.6 per cent in September.
Boeing reported a loss of more than US$6 billion in the third quarter and immediately turned its attention to union workers who will vote Wednesday whether to accept a company contract offer or continue their crippling strike, which has dragged on for nearly six weeks.
Although paper bags have not yet returned to LCBO stores, the province is now ordering the Crown corporation to switch suppliers to a company within Ontario.
A Manitoba company competed against the cream of the crop at the world's largest dairy expo and came out the big cheese.
A manufacturer in Saskatchewan is looking to set a new record by building the world's longest trampoline.
Summer might be the most popular season for tourism to Europe, but it hardly promises a calm, cool and collected experience.
Scottie Barnes and the Toronto Raptors kick off the new NBA season tonight as they host the Cleveland Cavaliers.
Goaltender Connor Hellebuyck, last season's Vezina Trophy winner, recorded 27 saves to spark the undefeated Winnipeg Jets to a 3-2 victory over the St. Louis Blues on Tuesday night.
Danton Heinen scored two of Vancouver's four first-period goals, and the Canucks beat the Chicago Blackhawks 6-3 on Tuesday night for their third straight win.
An increased risk of fire has prompted the recall of thousands of Honda hybrid vehicles in Canada.
A senior executive for Volkswagen in China has been deported for allegedly using cocaine and marijuana while on vacation in Thailand, according to Chinese authorities and German media reports.
The U.S. government's road safety agency is investigating Tesla's 'Full Self-Driving' system after getting reports of crashes in low-visibility conditions, including one that killed a pedestrian.
A meteor lit up our region's sky last night 鈥 with a large fireball shooting across the horizon over Lake Erie at around 7:00 p.m.
Residents of Ottawa's Rideauview neighbourhood say an aggressive wild turkey has become a problem.
A man who lost his life while trying to rescue people from floodwaters, and a 13-year-old boy who saved his family from a dog attack, are among the Nova Scotians who received a medal for bravery Tuesday.
A newly minted Winnipegger is hoping a world record attempt will help bring awareness for the need for more pump track facilities in the city.
A Springfield, Ont. man is being hailed a 'hero' after running into his burning home to save his two infant children.
Hortense Anglin was the oldest graduate to make her way across the platform at York University's Fall Convocation ceremony this week. At the age of 87, she graduated with an Honours degree in Religious Studies.
Looking for a scare with good intentions this Halloween season? The ghosts and ghouls of Eganville, Ont. invite families to tour the Haunted Walk at Lekbor Manor.
The image of a sleepy Saskatchewan small town with 'not a lot going on' is a well-known anecdote. However, one Saskatchewan company is hoping to change that 鈥 and allow communities both on and off the beaten path to share their stories and advertise what they have to offer.
A Moncton, N.B., home has been donated to the Friends of The Moncton Hospital Foundation and will be transformed into a resource hub for people living with cancer.
An oil salvage operation is underway on the fragile wreckage of a U.S. army transport ship that sank almost 80 years ago off coastal British Columbia in a race to head off an eruption of thousands of litres of oil that a coast guard official says is "near imminent."
Ken Swain has a major mess on his hands.
Green Leader Sonia Furstenau is set to meet the media for the first time since British Columbia's indecisive election on Saturday, amid speculation about a possible minority government.
The Bank of Canada made a sizable cut to its key lending rate Wednesday from 4.25 per cent to 3.75 per cent as the global economy continues to expand. The half percentage point cut is the fourth rate cut in a row by the central bank as inflation dropped from 2.7 per cent in June to 1.6 per cent in September.
The federal government says it can鈥檛 wait any longer for Ontario to end encampments in its cities and will offer money directly to municipalities, including Toronto, to fix the problem.
Although paper bags have not yet returned to LCBO stores, the province is now ordering the Crown corporation to switch suppliers to a company within Ontario.
A new report suggests that Canadians' exposure to a radioactive gas is increasing, putting millions of people at a higher risk of developing lung cancer.
Police say a pedestrian died after she and another woman were hit by a vehicle in Okotoks on Wednesday night.
Ten things to do with friends or family this weekend.
The Bank of Canada made a sizable cut to its key lending rate Wednesday from 4.25 per cent to 3.75 per cent as the global economy continues to expand. The half percentage point cut is the fourth rate cut in a row by the central bank as inflation dropped from 2.7 per cent in June to 1.6 per cent in September.
Popular Kanata restaurant D'Arcy McGee's has suddenly closed its doors. In a post on Facebook Tuesday night, D'Arcy McGee's said, "We will sadly be closing our doors."
An Orl茅ans property that once belonged to a religious order is now in the City of Ottawa's hands.
Montreal Mayor Valerie Plante will not be seeking reelection.
As the case of the Bedford school, where teachers created a climate of terror, has brought the debate on secularism to the fore, Quebec Solidaire (QS) is joining the Parti Qu茅b茅cois (PQ) in calling for an end to the funding of religious schools in the province.
The majority of optometrists in Quebec will withdraw from the public health-care insurance program (RAMQ) as of Nov. 22, meaning that patients covered by the public plan will have to pay for services.
The Carolina Hurricanes really turned the tide in the third period on Tuesday night.
Cool mornings and mild afternoons through the rest of this week in Edmonton and area.
The Bank of Canada made a sizable cut to its key lending rate Wednesday from 4.25 per cent to 3.75 per cent as the global economy continues to expand. The half percentage point cut is the fourth rate cut in a row by the central bank as inflation dropped from 2.7 per cent in June to 1.6 per cent in September.
The Nova Scotia government says it plans to reduce the province's harmonized sales tax (HST) rate by one percentage point next year.
The Southwest Nova RCMP Major Crime Unit has taken over the investigation into a fatal shooting in Kingston, N.S.
Police have confirmed the body of an employee who died at a Walmart in Halifax over the weekend was found in a walk-in oven.
The Manitoba government is looking to add more liquor outlets inside food and grocery stores.
An armed man was restrained by customers after he attempted to rob a Winnipeg restaurant on Monday.
It's being hailed as a sizable cut to the Bank of Canada's interest rate and the largest since the central bank began slashing in the summer.
Candidates across Saskatchewan are making their final pitches to potential voters as the 2024 election campaign is quickly approaching its end.
More residents in Saskatchewan say it鈥檚 time for a federal election to be called than in any other province, a new poll from the Angus Reid Institute shows.
Emergency crews battled a garage fire in west Regina on Tuesday evening.
Waterloo Regional Police are investigating a sudden death in Kitchener.
Employees at a grocery store in Cambridge had a surprising start to their morning as they walked in to work to find a fire.
Ontario Provincial Police are looking for a missing teenager from Goderich.
With the war in Ukraine still going on and Saskatchewan now home to hundreds of newcomers fleeing the attacks, there鈥檚 been a resurgence of a youth group here in Saskatoon.
Candidates across Saskatchewan are making their final pitches to potential voters as the 2024 election campaign is quickly approaching its end.
A Saskatoon family is voicing concerns after paying twice as much PST as expected on a recently purchased truck.
Greater Sudbury has ended the employment of CAO Ed Archer, Mayor Paul Lefebvre announced suddenly Tuesday evening
The Bank of Montreal says it has restored access to its website after an outage Wednesday.
Police have confirmed the body of an employee who died at a Walmart in Halifax over the weekend was found in a walk-in oven.
A man is miraculously alive after driving his pickup truck through the fence and down a 150-foot embankment at Hawk Cliff in near Port Stanley, Ont.
Police said the house is believed to be empty and abandoned and it's not known yet if the driver of the truck is injured.
On Oct. 18, London police were contacted by Toronto Police Service requesting help to find a Toronto man wanted for multiple robbery and firearms related offences.
A 34-year-old motorcyclist has died following a collision in Barrie鈥檚 south end on Tuesday.
Provincial police were summoned to an address in Georgian Bluffs, 10 minutes west of Owen Sound, about a domestic assault.
Provincial police were summoned to Howdenvale Road in South Bruce Peninsula by a complaint about a possibly impaired driver Saturday.
A new mental health and addictions service inventory is launching for those looking for help with mental health and addition in Windsor and Essex County.
Chatham-Kent is set to distribute Cyanokits to the community.
A recall has been issued for certain clothing items sold at Giant Tiger stores over high levels of lead, according to a notice published by Health Canada Tuesday.
An oil salvage operation is underway on the fragile wreckage of a U.S. army transport ship that sank almost 80 years ago off coastal British Columbia in a race to head off an eruption of thousands of litres of oil that a coast guard official says is "near imminent."
Green Leader Sonia Furstenau is set to meet the media for the first time since British Columbia's indecisive election on Saturday, amid speculation about a possible minority government.
Mounties in British Columbia say a second person has been found dead after two vehicles ended up in a river on Vancouver Island when a road washed out amid torrential rains over the weekend.
Dave Lindsey began growing giant pumpkins to bring a bit of magic to his grandkids' Halloween.
A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
A proposed coal mine 鈥 not tourism 鈥 is critical in revitalizing southwestern Alberta communities along the edge of the Rockies, a group in favour of a controversial project maintains.
Alberta Premier Danielle Smith says she's waiting for NDP Leader Naheed Nenshi to declare where he intends to run for office before she calls a byelection in Lethbridge.
The health of honeybees will be the focus of a presentation at the University of Lethbridge on Wednesday evening.
The union representing the fire rangers with the Ministry of Natural Resources says money won鈥檛 fix the systemic problems in the workplace.
Rallies by a group called Voices Against Violence took place across the country on Monday, including Sault Ste. Marie.
An Indigenous group in northwestern Ontario shut down the highway for a couple of hours Monday morning in protest after ancestral remains were found at a construction site.
Police in western Newfoundland say a 77-year-old man visiting the province from Kansas is missing after a fire at a hotel in Deer Lake, N.L.
At 2 p.m. on Thursday, the scene at the Lions Club in Clarenville, N.L., rivalled any rowdy St. John's bar that thumps with music late on a weekend night.
A Newfoundland scientist known for identifying a gelatinous, rancid mass that washed up on the island's shores decades ago is hoping to get his hands on a slice of the strange white globs appearing on the province's beaches.
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