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Devin Nunes

All articles tagged with #devin nunes

business1 month ago•2 min saved

Trump Media taps Kevin McGurn to steer Truth Social after $6B stock wipeout

Trump Media & Technology named Kevin McGurn as interim CEO of Truth Social, replacing Devin Nunes after the stock fell about 67% and wiped out more than $6 billion in investor wealth. Nunes earned about $47 million in 2024; the company did not explain the departure or provide a timeline for a permanent replacement. McGurn said the platform is poised to take off. The firm, created to challenge Facebook and Twitter, has struggled to gain traction and has posted heavy losses, while branching into crypto and prediction markets.

via PBS|

#business #devin-nunes #kevin-mcgurn

politics1 month ago•23 min saved

Nunes exits Trump Media as CEO to focus on security advisory role

Former congressman Devin Nunes is stepping down as CEO of Trump Media & Technology, the company behind Truth Social, after more than four years at the helm. He said he will focus on his role as chairman of Trump’s intelligence advisory board and other ventures, with Kevin McGurn named interim CEO. The company has struggled financially, posting significant losses and a plunging stock price since going public, and while it once projected rapid growth, its actual performance so far has disappointed investors. Trump maintains majority control of the firm, whose long-term ambitions have yet to be realized.

via The Washington Post|

#devin-nunes #leadership-change #politics

business1 month ago•173 min saved

Nunes Steps Down as Trump Media CEO Amid Financial Turmoil

Devin Nunes is stepping down as CEO of Trump Media & Technology Group, with Kevin McGurn named interim CEO, as the company posts heavy losses and modest revenue. Truth Social launched in 2022 and the company went public in 2024, but it faces a dwindling user base and a stock around $9.70. Nunes will remain as Chairman of the President’s Intelligence Advisory Board to focus on free speech, while the firm warns it will incur ongoing operating losses as it seeks growth beyond Trump’s core followers.

via CNN|

#business #devin-nunes #donald-trump

business1 month ago•5 min saved

Trump Media taps McGurn as interim CEO after Nunes departure

Former Rep. Devin Nunes is leaving as CEO of Trump Media & Technology Group, with Kevin McGurn named interim CEO amid years of losses, a sliding stock price, and ongoing pivots including a potential spin-off of Truth Social and a merger deal with TAE Technologies.

via Politico|

#business #devin-nunes #kevin-mcgurn

business1 month ago•3 min saved

Trump Media Names Interim CEO as Nunes Exits After Four-Year Run

Devin Nunes steps down as CEO of Trump Media & Technology after four years; Kevin McGurn will serve as interim CEO as the company pursues mergers and SPAC plans amid heavy losses and a sagging stock price.

via The New York Times|

#business #devin-nunes #leadership-change

politics1 year ago•1 min saved

Trump Appoints Truth Social CEO Devin Nunes to Lead Intel Board

President-elect Donald Trump has appointed Devin Nunes, CEO of Truth Social and former chair of the House Intelligence Committee, to lead the President's Intelligence Advisory Board. This board is responsible for overseeing the U.S. intelligence community's adherence to the Constitution. Nunes will continue his role at Trump Media & Technology Group, further linking the company to the incoming administration. Trump's decision highlights Nunes' past involvement in challenging the Russia investigation and his ongoing influence within Trump's circle.

via POLITICO|

#devin-nunes #intelligence-advisory-board #politics

politics1 year ago•1 min saved

Trump Appoints Truth Social CEO Nunes to Lead Intelligence Board

Donald Trump has appointed Devin Nunes, former US lawmaker and current CEO of Trump's Truth Social, as chair of the president's intelligence advisory board. Nunes, known for his defense of Trump and allegations against the FBI during the Russia investigation, will continue his role at Truth Social while serving on the board. Trump also announced Troy Edgar as deputy secretary of the Department of Homeland Security and Bill White as US ambassador to Belgium.

via The Guardian US|

#devin-nunes #donald-trump #intelligence-advisory-board

businesspolitics2 years ago•1 min saved

"Trump Media CEO Faces Backlash and Stock Volatility Amid Billionaire Donor's Firm Criticism"

The CEO of Donald Trump’s social media company, Trump Media & Technology Group (TMTG), was criticized by Citadel Securities, a firm owned by billionaire Republican donor Ken Griffin, as a "proverbial loser" attempting to shift blame for the company's stock market struggles. Devin Nunes, the CEO of TMTG, had accused large trading firms, including Citadel Securities, of potential market manipulation. TMTG retaliated, accusing Citadel of harming small investors. Nunes claimed that "naked" short-selling was behind the stock market turbulence, prompting a response from Citadel. TMTG's stock rallied 9.6% on Friday amidst the ongoing dispute.

via The Guardian|

#businesspolitics #citadel-securities #devin-nunes

businessfinance2 years ago•3 min saved

"Market Feud: Citadel, Trump Media Clash Over Short-Selling and Stock Performance"

Ken Griffin's Citadel Securities and Devin Nunes, CEO of Truth Social's parent company, engaged in a war of words over accusations of stock manipulation and market manipulation. Nunes accused Citadel Securities and others of engaging in "naked short selling," prompting a response from Griffin's company calling Nunes a "proverbial loser." The feud stems from Trump Media and Technology Group's tanking stock price since going public, with Nunes sending a letter to Nasdaq accusing market makers of manipulation. The back-and-forth highlights the tensions surrounding the company's stock performance and the involvement of prominent figures in the finance and political spheres.

via New York Post |

#businessfinance #citadel-securities #devin-nunes

finance2 years ago•3 min saved

"Trump Media's Stock Rollercoaster: From Surge to Suspected Manipulation"

Trump Media & Technology CEO Devin Nunes alleged market manipulation in a letter to Nasdaq, claiming extreme swings in the stock price since its IPO on March 26. He pointed to short-selling and identified four market participants responsible for over 60% of the trading volume. The company, listed under the ticker D-J-T, has not generated revenue and lost over $58 million in 2023. The allegations come as former President Donald Trump is on trial in New York City, and jury selection is underway.

via Fox Business|

#devin-nunes #finance #market-manipulation

financepolitics2 years ago•3 min saved

"Trump Media CEO Accuses Market Manipulation as DJT Stock Rises and Nasdaq Falls"

Citadel Securities criticized Trump Media CEO Devin Nunes for alleging possible illegal short selling in DJT shares and blaming the company for his falling stock price, prompting a response from Trump Media accusing Citadel Securities of corporate offenses. Nunes' letter to Nasdaq CEO Adena Friedman raised concerns about market manipulation and named Citadel Securities among other major market participants. The strong language in Citadel Securities' response is notable given the political ties between Trump Media and Citadel Securities, including donations from Citadel's founder Ken Griffin to Republican candidates, including Nunes.

via CNBC|

#citadel-securities #devin-nunes #financepolitics

business-technology2 years ago•2 min saved

"Trump Media Stock Plummets as Truth Social Ventures into Live TV Streaming"

Trump Media & Technology Group, the company behind Truth Social, announced the launch of a live TV streaming platform, causing its stock to tumble by 14%. The streaming service will include news, religious channels, and "family-friendly content," as well as content that has been canceled or suppressed on other platforms. The company's market valuation has been cut by more than half since its first-trading-week highs, and it recently disclosed a significant loss from operations and interest expenses. Despite concerns over profitability, CEO Devin Nunes stated that the company is "well positioned," but did not provide a timeline for when it expects to be profitable.

via Quartz|

#business-technology #devin-nunes #stock-market

businesstechnology2 years ago•1 min saved

"Trump Media's Truth Social Launch Leads to Double-Digit Stock Plunge"

Trump Media shares fell by more than 10% after announcing the launch of a live TV streaming platform for its Truth Social app. Former President Donald Trump, the majority shareholder, has seen the company's market capitalization decrease by over $5 billion since its public trading debut in March. The company plans to roll out the streaming content in three phases, focusing on news networks, religious channels, family-friendly content, and content facing discrimination on other platforms. CEO Devin Nunes expressed excitement about providing a platform for creators whose content has been unjustly suppressed.

via CNBC|

#businesstechnology #devin-nunes #live-tv-streaming

businesstech2 years ago•1 min saved

"Trump's Truth Social Struggles as Media Stock Tanks"

Donald Trump urges his followers to support his social media app Truth Social as its parent company's stock continues to decline, with the stock price falling more than 50% since its debut. Despite the stock's slide, Trump Media still boasts a market capitalization of over $4.2 billion, and Trump, who owns over 57% of the company's stock, is poised to reap a financial windfall. The company's CEO, former Republican Rep. Devin Nunes, has suggested plans to add video streaming capabilities to Truth Social and make it a hub for "canceled" channels and documentaries, but neither Trump's posts nor Nunes' claims have yet to halt the stock's decline.

via CNBC|

#businesstech #devin-nunes #donald-trump

business2 years ago•2 min saved

"Trump Media's Stock Plunge Wipes Out Billions in Value"

Shares of Trump Media, trading under the ticker DJT, have fallen 11% on Monday, erasing all gains since its debut last month. Short-selling has contributed to the stock's volatility, with investors positioning bets on its future movement. Former President Donald Trump, who owns a majority of the company's shares, has seen his net worth decline alongside the stock price. Despite criticisms and financial losses, CEO Devin Nunes remains confident about the company's future, citing access to capital markets and plans for expansion.

via NBC News|

#business #devin-nunes #donald-trump