Trump Media CEO Exit Caps a 90% Drop as MAGA Stocks Stumble

Truth Social has rarely been more important on Wall Street, where traders hang on White House posts that can send the market tumbling or soaring back up again. The company’s stock, though, is much less in vogue.

Trump Media & Technology Group Corp.’s struggle to parlay the president’s power into a successful social-media company was underscored by the departure late Tuesday of Chief Executive Officer Devin Nunes, a dairy-farmer-turned-MAGA-congressman who was plucked to lead the upstart a little over four years ago.