Shares of Trump & Technology Group (NASDAQ: DJT) plunged over 10% on Tuesday following the company’s announcement of plans to introduce a new live TV streaming platform. According to a press release, Trump Media, the parent company of Donald Trump’s Truth Social platform, will unveil the live streaming service accessible via the Truth Social app on mobile devices, tablets, and TVs. The streaming content will include various genres, such as news networks, religious channels, family-friendly entertainment like films and documentaries, and content facing suppression or cancellation on other platforms. Trump Media made its public debut on the Nasdaq through a merger with a special purpose acquisition company called Digital World Acquisition Corp. Share prices have dropped over 60% since the end of March. The stock experienced a downturn on Monday following news of the company’s plan to issue more than 21 million additional shares. With approximately a 60% ownership in Truth Social, Trump retains significant control over Trump Media. At current trading levels around $23.40 per share, the company holds a market capitalization of roughly $3.2 billion, translating to a stake worth approximately $1.9 billion for the former president. Trump’s stake was initially valued at over $4.5 billion immediately after the company’s public listing. The inception of Truth Social followed Trump’s removal from major social media platforms like Facebook and Twitter, known as X, subsequent to the Jan. 6 Capitol riots in 2021. While Trump has been reinstated on these platforms, he established Truth Social to reclaim his online presence. In an updated regulatory filing earlier this month, Trump Media disclosed sales of slightly over $4 million with net losses nearing $60 million for the full year ending Dec. 31. The company anticipates continued losses amid heightened profitability challenges. Additionally, stakeholders remain subject to a six-month lockup period before selling or transferring shares, with exceptions requiring a board vote for special dispensation. However, such an action may prompt legal challenges from public shareholders, as experts have suggested. Trump confronts a $454 million fraud penalty and contends with a fundraising deficit ahead of his potential 2024 presidential election bid against Biden. Posting a $175 million bond in the fraud case, Trump has temporarily delayed the final payment while appealing the verdict.