Trump Media Stock Rises as Reddit Warns of Traffic Drop
Trump Media & Technology Group shares rose 6% while Reddit CEO Steve Huffman warned of declining search referral traffic and potential user losses.
Shares of Trump Media & Technology Group rose 6% to $5.93 in afternoon trading on November 4, 2026, as investors positioned themselves for the November 3 midterm elections. Despite the daily increase, the stock has declined 55% year to date. The company reported Q2 2026 revenue of $1.7 million, a 92.5% year-over-year increase, though it posted a net loss of $238.11 million. This loss was primarily driven by $190.4 million in non-cash unrealized losses and $25.6 million in legal expenses.
To diversify its income, the company launched a Truth API on August 1. The service charges select Wall Street clients up to $100,000 per month for millisecond-level access to Donald Trump's Truth Social posts.
In separate market activity, Reddit reported that Q3 sales rose 53% to $894.96 million. However, CEO Steve Huffman warned of a meaningful decline in search referral traffic during the third quarter. He indicated a potential low-double-digit percentage drop in daily active users for the fourth quarter.
