Devin Nunes defends Truth Social as 'impenetrable beachhead' against Big Tech

Nunes said the company is "well-positioned" because it works well and has no debt.

Published: April 7, 2024 2:59pm

Devin Nunes, the CEO of Truth Social, on Sunday defended the social media platform as an "impenetrable beachhead" against Big Tech companies after shares of Trump Media & Technology Group, which owns Truth Social, tumbled to their lowest point since going public.

"We were overregulated, so if you actually look at the cost that we built Truth Social, our beachhead against Big Tech, an impenetrable beachhead that everybody said couldn't be done without using Big Tech companies, that was built for a fraction of what many of these Big Tech dinosaur companies were built for," Nunes said Sunday on Fox News.

He also said the company is "well-positioned" because it works well and has no debt.

Trump Media went public last month after merging with Digital World Acquisition Corp., a company specifically designed to allow businesses to be publicly traded. Shortly after going public, stock shares in the company sold for a high of nearly $72 on March 27. Shares closed at around $40 on Friday, per Yahoo! Finance.

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