Exclusive: Truth Social vows to punish short sellers, says streaming service 'moving forward'

Truth Social is confident about its future after going public earlier this year, telling Just the News that its streaming service is moving forward, and that it is actively working to stop people from illegally short selling its stock.

Truth Social, owned by Trump Media & Technology Group, told Just the News in a written question-and-answer statement that its social media platform is a "beachhead that will be supported by streaming." 

The company, which is majority-owned by former President Donald Trump, is planning on hosting documentaries, shows and television networks that are at risk of being canceled due to biases within the entertainment industry, the company said.

In addition to the streaming developments, which Truth Social calls a "front-burner issue," the platform says it is "actively exploring" potential mergers and acquisitions to grow its brand.

The platform also said it is "looking both to improve the user experience and to strengthen our position so the platform can't be cancelled."

You can read the full document here:

The company said it feels "well positioned" at its current stage, as it has more than $200 million in the bank and more than 600,000 shareholders. 

In order to maintain the momentum and prevent illegal short selling of its stocks, Truth Social said it contacted various authorities. If it turns out that people are illegally short selling the stocks, the "perpetrators need to be criminally prosecuted," a spokesperson said.

Ultimately, the company's goal ahead of the 2024 presidential election is to "serve as a one-stop shop" for the public to read the latest news and opinions, the spokesperson also said.