GURU.Markets stock price, segment price, and overall market index valuation
The company's share price Trump Media Technology
Shares of Trump Media & Technology Group, owner of the social network Truth Social, are highly speculative. Their price is disconnected from fundamentals and driven by news related to Donald Trump and retail investor activity.
Share prices of companies in the market segment - Media
Trump Media & Technology Group operates in the social media segment through its Truth Social platform. We classify the company as part of the Media sector, and the chart below shows the dynamics of this segment as a whole, reflecting general trends and sentiment in the industry.
Broad Market Index - GURU.Markets
Trump Media & Technology is the media company that operates the social network Truth Social. A prominent player in its niche, it is included in our GURU.Markets index. The chart below reflects the overall stock market performance. Compare it with DJT shares to assess how investors view the prospects for alternative media platforms.
Change in the price of a company, segment, and market as a whole per day
DJT - Daily change in the company's share price Trump Media Technology
The daily price change of Trump Media & Technology (DJT), a media company, reflects extreme sensitivity to social media, political events, advertising revenue, and speculative sentiment. DJT's volatility is a measure of the extreme volatility inherent in media assets with high visibility. DJT's Change_Co is important for formula analysis in the media sector.
Daily change in the price of a set of shares in a market segment - Media
Trump Media & Technology Group Corp. is a media company that owns the social network Truth Social. This chart shows extreme volatility unrelated to industry trends, but rather to political events and retail investor sentiment, making it a unique speculative tool.
Daily change in the price of a broad market stock, index - GURU.Markets
Trump Media & Technology is a media company that has become a symbol of "meme stocks" and political polarization. Its performance is largely unrelated to fundamentals, driven instead by the news cycle. The chart below shows overall market volatility, which makes the DJT's swings particularly dramatic.
Dynamics of market capitalization of the company, segment and the market as a whole over 12 months
Annual dynamics of the company's market capitalization Trump Media Technology
Trump Media & Technology has been one of the most volatile companies on the market over the past year. Its year-over-year share price performance, shown in the chart, reflected not so much financial results as political events and retail investor sentiment, making it a unique "meme" stock.
Annual dynamics of market capitalization of the market segment - Media
Trump Media & Technology Group is a unique asset whose stock performance is almost entirely disconnected from the fundamentals of its social network, Truth Social. Its chart reflects political events, news cycles, and retail investor sentiment, rather than traditional media sector metrics.
Annual dynamics of market capitalization of broad market stocks, index - GURU.Markets
Trump Media & Technology isn't a traditional company, but rather a phenomenon driven by politics and the sentiments of its supporters. Its stock price is completely disconnected from financial indicators and economic cycles. Its price chart is a reflection of speculative frenzy and audience loyalty, making it highly unpredictable.
Dynamics of market capitalization of the company, segment and the market as a whole for the month
Monthly dynamics of the company's market capitalization Trump Media Technology
The Trump Media & Technology Group chart is more of a barometer of political sentiment and retail investor activity than a reflection of traditional business cycles. Its extreme monthly volatility is closely tied to news cycles surrounding its founder.
Monthly dynamics of market capitalization of the market segment - Media
This chart reflects the dynamics of the media sector, but for Trump Media (DJT), it has particular significance. The company's movements are determined less by advertising cycles than by political news and its status as a "meme stock." The sector chart only highlights how unique and unpredictable its trajectory is.
Monthly dynamics of market capitalization of broad market stocks, index - GURU.Markets
Trump Media & Technology Group is a media company that owns the social network Truth Social. Its shares are extremely volatile and move not on financial indicators, but on news related to Donald Trump. A full-market chart is not relevant for assessing DJT; its performance reflects political events and the speculative sentiment of its unique investor base.
Dynamics of market capitalization of the company, segment and the market as a whole for the week
Weekly dynamics of the company's market capitalization Trump Media Technology
Trump Media & Technology Group, the company behind the social network Truth Social, has demonstrated weekly performance that is heavily dependent on political news and Donald Trump's activities. Its stock price is extremely volatile and reflects the sentiment of its supporters rather than business fundamentals.
Weekly dynamics of market capitalization of the market segment - Media
Trump Media & Technology is part of the media sector, but its weekly performance is unique and driven more by political news than by industry-wide advertising trends. The chart shows how its fluctuations differ from those of traditional media companies.
Weekly dynamics of market capitalization of stocks of the broad market, index - GURU.Markets
Trump Media & Technology Group shares are a unique case, where their performance is driven less by economic data than by political news and retail investor sentiment. This chart will show how the company's weekly fluctuations are completely disconnected from the broader stock market, existing in its own universe.
Market capitalization of the company, segment and market as a whole
DJT - Market capitalization of the company Trump Media Technology
The Trump Media & Technology Group (DJT) chart is a unique story, where market capitalization reflects not so much financial performance as Donald Trump's popularity and the sentiments of his supporters. The stock's performance is a barometer of political events and media attention, not traditional business.
DJT - Share of the company's market capitalization Trump Media Technology within the market segment - Media
Trump Media & Technology Group, operator of the social network Truth Social, is a unique asset in the media market. Its share of the sector's market capitalization is heavily dependent on Donald Trump's political activity and his audience. The chart reflects investor sentiment and expectations surrounding his key figure rather than fundamental indicators.
Market capitalization of the market segment - Media
Trump Media & Technology Group is behind the social network Truth Social. But what is the size of the entire media universe in which it is trying to find its place? The graph below shows the total market capitalization of this sector. Its dynamics reflect fierce competition, societal polarization, and the battle for audience attention.
Market capitalization of all companies included in a broad market index - GURU.Markets
The Trump Media & Technology chart is not so much a financial barometer as a social and political one. Its extremely volatile market cap reflects not traditional business metrics, but rather the news cycle, speculative interest, and audience loyalty to Donald Trump. It's a visualization of the "meme stock" phenomenon in action.
Book value capitalization of the company, segment and market as a whole
DJT - Book value capitalization of the company Trump Media Technology
The material foundation of Trump Media & Technology Group is its technological infrastructure, primarily the servers and networks that support the Truth Social social network, as well as its financial assets. The chart below shows how the value of these key assets for the media platform has formed and changed.
DJT - Share of the company's book capitalization Trump Media Technology within the market segment - Media
Trump Media & Technology Group is building its media platform on computing power and server infrastructure. Although the company is young, its balance sheet reflects investments in physical IT assets necessary for the social network's operation. The chart shows the initial share of these physical resources the company is accumulating in the media sector.
Market segment balance sheet capitalization - Media
Trump Media & Technology Group is a media company whose value lies in its brand and audience, not in physical assets. Its business is capital-light. The chart below shows the capital intensity of the media sector, highlighting its intangible business model.
Book value of all companies included in the broad market index - GURU.Markets
Trump Media & Technology Group operates the social network Truth Social. The company's assets are largely intangibleβits brand and user base. Its minimal stake in BCap_All creates a stark contrast to its media presence, highlighting that in the modern economy, influence isn't always measured in physical assets.
The ratio of market capitalization to book capitalization of a company, segment, and the market as a whole
Market capitalization to book capitalization ratio - Trump Media Technology
Trump Media & Technology's book value is practically zero. Its market capitalization is a pure valuation of its brand and potential audience, not any tangible assets. The gap between the two is one of the most extreme examples of how the market can value intangible factors.
Market to book capitalization ratio in a market segment - Media
Trump Media & Technology Group operates the social network Truth Social. The company's value is almost entirely intangible and tied to its brand and audience. This graph reflects the extreme discrepancy between its market valuation, based on expectations and media attention, and its minimal physical assets.
Market to book capitalization ratio for the market as a whole
Trump Media & Technology Group is a media company whose valuation is largely determined by non-traditional factors such as retail investor sentiment and the political climate. Compared to the market averages shown in the chart, its ratio appears abnormally high, as investors value the brand rather than the tangible assets.
Debts of the company, segment and market as a whole
DJT - Company debts Trump Media Technology
Trump Media & Technology Group's (TMTG) debt policy reflects the startup's strategy of carving out a niche in the social media market. The raised capital, including through debt instruments, is being used to develop and support the Truth Social platform, engage in user marketing, and fund operational activities in a highly competitive environment.
Market segment debts - Media
Trump Media & Technology Group operates the social network Truth Social. Developing and scaling a social media platform requires significant investments in server infrastructure and user acquisition marketing. This chart illustrates how the company finances its operations as it seeks to carve out a niche in the highly competitive social media market.
Market debt in general
Debt to book value of the company, segment and market as a whole
The company's debt to book capitalization ratio Trump Media Technology
Trump Media & Technology Group aims to create a media platform that competes with existing social media platforms. Launching such a project requires significant investment in infrastructure and marketing. This chart shows whether the company is relying on equity or debt for its development, which provides insight into its financial strategy and risks.
Market segment debt to market segment book capitalization - Media
Trump Media & Technology Group operates the social network Truth Social. This chart reflects the financial structure of the social media sector, particularly for emerging and niche platforms. It allows one to assess how the company finances its growth and competition with industry giants, and how its debt policy aligns with its unique market position.
Debt to book value of all companies in the market
Trump Media & Technology Group is dependent on the media and political landscape. This chart of total market debt shows investor risk appetite. For a highly volatile company like DJT, overall market sentiment is a critical factor influencing its valuation and access to capital.
P/E of the company, segment and market as a whole
P/E - Trump Media Technology
Trump Media & Technology Group Corp. operates the social network Truth Social. This chart reflects an extremely high speculative valuation based not on financial performance but on its connection to Donald Trump as a political figure. The company's valuation serves as a barometer of his supporters' sentiment and is not tied to traditional profit analysis.
P/E of the market segment - Media
Media technologies, especially those linked to politics like Trump Media, aren't valued based on their financials. This chart shows the average valuation for media companies. It helps us understand that DJT's valuation bears no resemblance to the industry average and reflects the sentiment of its supporters, not its business prospects.
P/E of the market as a whole
Trump Media & Technology Group is a unique asset whose valuation is largely unrelated to traditional financial metrics or the overall market situation shown in this chart. Its value is determined not by economic cycles, but by political events and the sentiments of Donald Trump's supporters. This makes its comparison to overall market trends particularly striking and revealing.
Future P/E of the company, segment and market as a whole
Future (projected) P/E of the company Trump Media Technology
Trump Media & Technology Group operates the social network Truth Social. The company's future profitability is highly speculative and depends on its ability to attract and monetize an audience in the highly competitive social media landscape. This chart reflects a wide range of analyst opinions on the long-term prospects and viability of this business model.
Future (projected) P/E of the market segment - Media
Trump Media & Technology Group operates the social network Truth Social and positions itself as an alternative to traditional media platforms. The chart shows how the company's revenue forecasts compare to the media sector, reflecting how the market assesses its ability to monetize its audience and compete in the highly concentrated social media landscape.
Future (projected) P/E of the market as a whole
Trump Media & Technology Group operates the social network Truth Social. This chart reflects expectations based on financial metrics. DJT's value, however, is more dependent on political events, the news cycle, and Donald Trump's popularity. It's an asset driven by sentiment and media attention, rather than traditional business metrics.
Profit of the company, segment and market as a whole
Company profit Trump Media Technology
Trump Media & Technology Group operates the social network Truth Social. The company's financial results, which could be seen on this chart, are directly dependent on its ability to attract and retain users, as well as monetize their audience through advertising. This dynamic reflects the highly competitive and politically sensitive nature of the social media sector.
Profit of companies in the market segment - Media
Trump Media & Technology Group operates the social network Truth Social and aims to create a media conglomerate alternative to traditional media. The company attracts audiences with specific political views. This chart reflects the financial dynamics of the new media sector, which is characterized by high competition and the battle for user attention.
Overall market profit
Trump Media & Technology Group operates the social network Truth Social. The company's success depends not on economic cycles, but on its ability to attract, retain, and monetize audiences. It's a business driven by political, social, and media factors that correlate weakly with overall corporate profitability.
Future (predicted) profit of the company, segment and market as a whole
Future (projected) profit of the company Trump Media Technology
Trump Media & Technology Group is the parent company of the social network Truth Social. It is a highly speculative asset, whose prospects depend largely on political factors and the ability to monetize its audience. The future profit forecast you see reflects the extreme uncertainty associated with this unique business.
Future (predicted) profit of companies in the market segment - Media
Trump Media & Technology Group operates the social network Truth Social. This graph reflects the highly speculative expectations for the social media sector, dominated by a few major players. TMTG's future depends entirely on its ability to attract, retain, and monetize a unique audience, a significant challenge in a crowded market.
Future (predicted) profit of the market as a whole
Trump Media & Technology Group operates the social network Truth Social. The success of the media platform depends on audience growth and the ability to monetize it through advertising. This graph of expected corporate profits is important because it reflects the state of the advertising market. During periods of economic growth, companies spend more on promotion, including on social media.
P/S of the company, segment and market as a whole
P/S - Trump Media Technology
Trump Media & Technology Group operates the social network Truth Social. For a company with relatively small operating revenue, this metric is particularly significant. It clearly demonstrates how the company's market valuation depends not on current sales, but on expectations for audience growth, media influence, and future monetization.
P/S market segment - Media
Trump Media & Technology Group operates the social network Truth Social. The company's business model is still in its infancy, and its valuation is heavily dependent on media attention and audience engagement. This chart, reflecting media industry averages, provides context for understanding how the company's market valuation is disconnected from traditional revenue metrics.
P/S of the market as a whole
Trump Media & Technology Group operates the social network Truth Social. The company's business is in its early stages and is heavily dependent on its founder's political brand. This average market revenue valuation clearly demonstrates how a company's valuation can be divorced from its actual financial performance and based on other factors.
Future P/S of the company, segment and market as a whole
Future (projected) P/S of the company Trump Media Technology
Trump Media & Technology Group operates the social network Truth Social. This chart shows how the market values ββthe company's future revenue, which depends on its ability to attract and retain users, as well as monetize its audience through advertising. It is heavily influenced by the media and political context surrounding its founder.
Future (projected) P/S of the market segment - Media
Trump Media & Technology Group is the parent company of the social network Truth Social. This chart compares the company's future revenue expectations with its industry. It reflects the high degree of speculation and market assessment of the platform's ability to monetize its unique audience in a competitive social media environment.
Future (projected) P/S of the market as a whole
Trump Media & Technology Group operates the social network Truth Social. This chart reflects general revenue expectations, while TMTG is a unique case, where valuation and performance are more dependent on political and media factors than traditional financial metrics. The company is more of an indicator of the sentiment of a specific audience than of broader economic trends.
Sales of the company, segment and market as a whole
Company sales Trump Media Technology
Trump Media & Technology Group is the parent company of the social network Truth Social. The company is currently in its infancy, and its revenue, if reflected in this chart, is generated through initial monetization efforts, such as advertising. The trend shows progress in building a sustainable business model.
Sales of companies in the market segment - Media
Trump Media & Technology Group aims to create a media platform positioned as an alternative to existing social networks. The success of their platform, Truth Social, depends on its ability to attract and retain an active audience. This graph reflects the state of the highly competitive media market, where new players are vying for user attention.
Overall market sales
Trump Media & Technology Group, the company behind the social network Truth Social, operates in a highly competitive media environment. Its success depends on its ability to attract and retain an audience. The overall economic dynamics reflected in the graph influence the advertising market. During periods of growth, companies increase their advertising activity, which can be a potential source of revenue for the platform.
Future sales volume of the company, segment and market as a whole
Future (projected) sales of the company Trump Media Technology
Trump Media & Technology Group is the parent company of the social network Truth Social. Its revenue forecast depends on the platform's ability to attract and monetize its user base, primarily through advertising. It reflects analysts' expectations for its growth and competition in the crowded social media market.
Future (projected) sales of companies in the market segment - Media
Trump Media & Technology Group operates the social network Truth Social, positioning itself as a platform for free speech. The company's success depends on its ability to attract, retain, and monetize its audience. This chart shows forecasts for the media sector, providing context for assessing the prospects of this niche social network in a competitive environment.
Future (projected) sales of the market as a whole
Trump Media & Technology Group, the owner of the social network Truth Social, operates in the media sector, which is sensitive to advertising budgets. This graph, reflecting overall economic activity, influences companies' willingness to spend on digital advertising. Economic growth may create more favorable conditions for monetizing the platform.
Marginality of the company, segment and market as a whole
Company marginality Trump Media Technology
Trump Media & Technology Group operates the social network Truth Social. For an early-stage media startup, this chart is critical. It shows whether the company is in the phase of actively investing in user acquisition and platform development, which typically involves losses, or whether it has already reached profitability by monetizing its audience.
Market segment marginality - Media
#VALUE!
Market marginality as a whole
Trump Media & Technology Group operates the social network Truth Social. While data reflects the profitability of traditional media, TMTG operates in a niche of politically-focused platforms. Their financial success will depend on their ability to monetize their audience and compete in the crowded social media space.
Employees in the company, segment and market as a whole
Number of employees in the company Trump Media Technology
Trump Media & Technology Group is seeking to carve out a niche in the media space with its social network, Truth Social. This chart provides an insight into the company's true operational scale during its early stages. Employee growth is a key indicator of investment in platform development, moderation, and user acquisition.
Share of the company's employees Trump Media Technology within the market segment - Media
Trump Media & Technology Group aims to create a media ecosystem, including the social network Truth Social. This chart shows the percentage of media and IT professionals the company is attracting to realize its ambitions. It allows one to assess the project's talent pool and its ability to compete for talent with established market players.
Number of employees in the market segment - Media
Trump Media & Technology Group operates the social network Truth Social. For a tech startup of this profile, a team of developers, moderators, and marketers is a key resource. This chart shows how the company is building its staff to grow the platform and attract users in the highly competitive social media landscape.
Number of employees in the market as a whole
Trump Media & Technology Group operates the social network Truth Social. It's an early-stage company whose prospects depend on its ability to attract and retain an audience in a highly competitive environment. Unlike the established businesses depicted in this chart, TMTG is a venture capitalist story, with its staff dynamics reflecting the product's development phases.
Market capitalization per employee (in thousands of dollars) of the company, segment, and market as a whole
Market capitalization per employee (in thousands of dollars) of the company Trump Media Technology (DJT)
Trump Media & Technology Group operates the social network Truth Social. Early-stage tech companies with small teams can command high valuations due to expectations of future growth. This chart for TMTG reflects the market's speculative assessment of its potential rather than current operating performance.
Market capitalization per employee (in thousands of dollars) in the market segment - Media
Trump Media & Technology (DJT) is the media company behind the social network Truth Social. This chart shows the average capitalization per employee in the sector. With a small team, its valuation is based almost entirely on branding and expectations rather than current operations, making this figure extreme compared to the industry.
Market capitalization per employee (in thousands of dollars) for the overall market
Trump Media & Technology Group operates the social network Truth Social. Like many media startups, its valuation is largely based on expectations of audience growth and future monetization. This chart illustrates how investors assess the potential of a platform where value is generated by user-generated content rather than a large staff.
Profit per employee (in thousands of dollars) for the company, segment, and market as a whole
Profit per employee (in thousands of dollars) of the company Trump Media Technology (DJT)
Trump Media & Technology Group operates the social network Truth Social. In the world of social media, this chart demonstrates monetization efficiency. Successful platforms have huge profits per employee because their code is scalable. For TMTG, this metric reflects the complex journey from building an audience to turning each employee into a real profit generator.
Profit per employee (in thousands of dollars) in the market segment - Media
Trump Media (DJT) is a media company that owns the "social network" Truth Social. This chart shows the benchmark for "Media." In this sector, the benchmark (if the company is profitable) is high. But for "startups" (like DJT), it is likely *negative*, reflecting the "burn" of money on R&D and marketing per employee.
Profit per employee (in thousands of dollars) for the market as a whole
Trump Media & Technology (DJT) is a media company that operates the social network Truth Social. The platform is focused on providing a platform for the free expression of opinions. This chart helps us assess how profitable the social media sector, where value is created by user-generated content and an IT platform rather than a large staff, is per employee.
Sales to employees of the company, segment and market as a whole
Sales per company employee Trump Media Technology (DJT)
Trump Media & Technology Group operates the social network Truth Social. For a media startup, this chart is a key monetization metric. It reflects the company's ability to convert its user base into real revenue through advertising or other services, and its growth means each employee is making an increasingly greater contribution to the business.
Sales per employee in the market segment - Media
Trump Media & Technology Group is developing the media platform Truth Social. In the world of social media, success often depends on the ability of a small team to manage a platform that attracts millions. This chart shows the average revenue per employee in the industry. It allows us to assess how effective TMTG's business model is at monetizing its audience compared to other media companies.
Sales per employee for the market as a whole
Trump Media & Technology is the media company behind the social network Truth Social. In the social media business, scalability is key: the ability to serve millions of users with a relatively small team of engineers. This metric is critical for assessing the platform's effectiveness and monetization.
Short shares by company, segment and market as a whole
Shares shorted by company Trump Media Technology (DJT)
Trump Media & Technology Group, operator of the social network Truth Social, is one of the most talked-about and volatile companies on the market. Its business metrics are currently out of sync with its lofty market valuation. The chart shows a colossal volume of short bets from investors who believe the current stock price is out of touch with fundamentals.
Shares shorted by market segment - Media
Trump Media & Technology Group (TMTG) operates the social network Truth Social, a media asset heavily exposed to the political landscape. This chart reflects the overall pessimism in the sector. It shows how skeptical investors are of the business models of alternative media platforms, anticipating challenges with monetization.
Shares shorted by the overall market
Trump Media (DJT) is a speculative stock behind Truth Social. This indicator (`Short_All`) is a fear gauge. When it rises, it signals widespread risk aversion. At such moments, meme stocks, whose prices are disconnected from fundamentals, are the first to suffer, as pessimism kills the appetite for speculation.
RSI 14 indicator for a company, segment, and market as a whole
The company's RSI 14 indicator Trump Media Technology (DJT)
Trump Media & Technology Group is a media company associated with Donald Trump (Truth Social). The stock is highly volatile and speculative. This chart often shows extremes, reflecting political news and retail investor sentiment rather than business fundamentals. Zones >70/<30 are common here.
RSI 14 Market Segment - Media
Trump Media & Technology (DJT) is the media company behind the social network Truth Social. The platform positions itself as an alternative to mainstream social media, targeting audiences that support Donald Trump. This chart reflects the overall sentiment in the media and social media sector. It helps assess how the market views this segment and how closely DJT's movement aligns with the overall trend.
RSI 14 for the overall market
Trump Media & Technology (DJT) is the media company behind the social network Truth Social. Its business is less about technology and more about politics and media coverage. This market sentiment graph affects it differently: the company's shares often move not in sync with the market, but rather depending on the news flow related to its founder.
Analyst consensus forecast for the company's share price, the segment, and the market as a whole
Analyst consensus stock price forecast DJT (Trump Media Technology)
Trump Media & Technology (DJT) operates the social media platform Truth Social, positioning itself as an alternative to mainstream social networks. This chart shows the average 12-month forecast of analysts. Its dynamics reflect their vastly different views on monetization, audience growth, and the unique risks associated with the brand.
The difference between the consensus estimate and the actual stock price DJT (Trump Media Technology)
Trump Media & Technology Group (TMTG) is the media company behind the social network Truth Social. Its business model is built on creating an alternative media platform. This chart shows the difference between the market valuation and the analyst consensus forecast. It highlights the potential experts see in the stock, which is highly dependent on media activity.
Analyst consensus forecast for stock prices by market segment - Media
Trump Media & Technology (DJT) is the media company behind the social network Truth Social. It's a speculative stock whose valuation is closely tied to the politics and media activities of its founder. This chart shows analysts' overall expectations for the entire media sector, reflecting whether experts believe in this niche of "alternative" social media.
Analysts' consensus forecast for the overall market share price
Trump Media & Technology (DJT) is a media platform (Truth Social), whose stock is the quintessential speculative asset. Its valuation is largely unrelated to earnings. This chart, which shows overall market sentiment, reflects risk appetite. When the market is optimistic (risk-on), investors are willing to buy into such stories. During a recession (pessimism), capital flees speculative assets.
AKIMA index of the company, segment and market as a whole
AKiMA Company Index Trump Media Technology
Trump Media & Technology Group is the media company behind the social network Truth Social. Unlike traditional businesses, its valuation is largely unrelated to revenue or profit. This chart is a comprehensive indicator that reflects not fundamentals, but primarily retail investor sentiment, news flow, and political events related to its founder.
AKIMA Market Segment Index - Media
Trump Media (DJT) is the media company behind the social network Truth Social, which positions itself as an alternative platform. This aggregate metric evaluates companies across a variety of metrics. The chart shows the average value for the media segment. This benchmark provides insight into how DJT's niche (and politically charged) model differentiates it from the average media competitor.
The AKIM Index for the overall market
Trump Media (DJT) is a meme stock. The company operates Truth Social, but its performance is disconnected from fundamentals and driven by politics and hype. This chart, reflecting the market average, is an anchor for reality. It helps assess how DJT's unique story diverges from the broader macroeconomic picture that impacts ordinary companies.