Even when Trump has driven momentum to the app around his own app during critical news moments, like the FBI's search of Mar-a-Lago last summer, data from SimilarWeb shows that momentum was not sustained.

What we're watching: Other upstarts have tried to take on X to little avail, which could make it harder for investors to give Truth Social the benefit of the doubt in its early stages as a public company. It's never posted a profit in its nearly 20-year history. Reddit went public yesterday with 73 million daily active users. Meta didn't turn a profit until five years after its founding.

Truth Social, which launched in 2022, is also still young.Snapchat has yet to post a full year of positive net income, but it went public with 158 million daily active users and posted revenues of $4.6 billion last year. Twitter only ever turned a profit for two of the eight years it was public, but it had 215 million monthly active users at its IPO.But their user bases were compelling enough to entice institutional investors for years until they started making real money. Neither of those ideas has materialized.īetween the lines: Social media firms haven't always had their financials in order before going public. Ahead of its launch, the company touted grand plans to start a subscription streaming service and a technology arm that would provide alternatives to internet services like Stripe and Amazon's AWS.Whats the policy X allows the promotion of financial products and services with. with the social media platform continuing to be called Twitter for a while until it also changed its. The company has been plagued by business and legal challenges since it went public, including a now-settled SEC investigation and a lawsuit from former employees. This policy applies to monetization on X and Xs paid advertising products. Reality check: Truth Social has yet to outline to investors its latest product plans or business strategy. Meme stocks like GameStop and AMC that soared during the pandemic-era retail investor bump have since crashed.But once retail investors tire of the penny stock, its fate will be left to institutional investors who want to see high-growth opportunities and profit margins.TWTR is up 27.58 over the past 30 days and down 2.02 for the past 12 months. Zoom in: For now, Truth is trading like a meme stock, meaning its market value is completely divorced from its financial reality. The closing share price for Twitter (TWTR) stock was 53.70 for Thursday, October 27 2022, up 0.66 from the previous day. Twitter (now X), had 215 million when it went public in 2013. Facebook had 845 million monthly active users (MAU) at its IPO in 2012.The company has not reported the actual metrics, which is unusual for a social media company going public.SimilarWeb estimates it had 5 million monthly website visits globally in February 2024 and roughly 1 million monthly active app users in the U.S.

What are Twitter Inc stock highest and lowest prices ever TWTR reached its all-time high on with the price of 80.75 USD, and its all-time low was 13.73 USD and was reached on. By comparison, Facebook (now Meta) earned $3.71 billion in revenue the year before it went public and was profitable.īetween the lines: Truth Social's user base is still very small, niche and not very global compared to its publicly traded social media rivals. You can trade Twitter Inc stock right from TradingView charts choose your broker and connect to your account.Truth Social earned $3.4 million in revenue for the first nine months of 2023 and it lost around $49 million.Why it matters: While the app does sell some ads, its business is practically non-existent. Truth Social - the Trump-owned social media platform that started trading yesterday - currently has far fewer users and less income than any social network that has gone public before. Truth Social has not publicly reported the actual metrics Table: Alice Feng/Axios False 2022 Q2 0001418091 12/31 True 6 1 0.0175001 0.0240964 0.076905 P3Y 0.Data: Company reports and SimilarWeb Note: Truth Social's total reflects monthly website visits globally in February 2024, according to SimilarWeb data. The period of impact of Twitter sentiment on price returns is shorter when the EA events are removed, and the values of CAR are lower, but in both cases the.

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