Roku Inc. ROKU shares are trading higher Wednesday following the announcement that Trump Media & Technology Group Corp. DJT launched its Truth+ streaming app on the Roku platform.
What To Know: The app is designed to offer an alternative to mainstream entertainment and news, focusing on content the company claims is more in line with conservative values. Truth+ will initially provide live TV channels and plans to expand with Video on Demand content soon. The platform features news, documentaries, weather, children’s programming and faith-based content.
Trump Media’s CEO Devin Nunes emphasized the service is intended to counter what he described as “discredited legacy news channels” and the "woke" entertainment industry. Nunes also stated the service would be supported by the company's custom Content Delivery Network, designed to prevent what they see as interference from major tech companies.
"Truth+ is the singular option for non-woke TV and movies, as well as a great alternative to discredited legacy news channels that have squandered the trust of the American people," Nunes said.
ROKU Price Action: Roku shares closed Wednesday up 7.10% at $72.14 and Trump media shares were up 2.49% at $20.59, according to Benzinga Pro.
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