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Trump media company replaces CEO, ex-congressman Nunes after stock plunge that wiped out billions [Yahoo! Finance Canada]
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social media platform after a stock collapse that wiped out billions in investor wealth. Devin Nunes, a former California congressmen in Donald Trump's first term, is being replaced temporarily by digital media executive Kevin McGurn as chief executive officer. The company, Trump Media & Technology, didn't give a reason for Nunes leaving or provide a timeline for his permanent replacement. After soaring shortly before Trump's re-election in November 2024, 67%, wiping out more than $6 billion in investor wealth. Trump Media was formed by the Trump family as an alternative to social media giants that had barred him from posting on their platforms after the January 6, 2021 Capitol riots. It said it would not only take on Facebook and Twitter as a “free speech” alternative, but eventually could become a media giant competing with streaming services such as Netflix. The stock soared, but it never gained traction with a wide audience despite the president's frequent use of it for ma
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- Trump media company replaces CEO, ex-congressman Nunes after stock plunge that wiped out billions [Yahoo! Finance][Yahoo! Finance]
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