Trump campaign launches TikTok account as Truth Social stock dips

• The Trump campaign debuted an official account on TikTok, the social media platform that is facing a potential ban in the U.S.
• Trump's Truth Social stock has taken a tumble over the past several days following the historic hush money trial verdict that found the former president guilty on 34 felony counts.
• President Biden's campaign launched its own TikTok account in February.

Former President Donald Trump's campaign debuted an official account on TikTok on Saturday night, the social media platform facing a potential ban in the U.S.

"It's my honor," Trump said in his first TikTok post under the handle "@realdonaldtrump," followed by a montage of him waving to crowds at a Saturday Ultimate Fighting Championship show. That post received 1.5 million likes within 10 hours of going online.

Trump's TikTok rollout came as his own social media company, Trump Media, took a financial tumble in the wake of the historic verdict that convicted the former president on 34 felony counts in his Manhattan hush money trial.

Trump Media, the parent company of Truth Social trading under the DJT ticker, was down over 5% at market close on Friday, the day after Trump's conviction, with shares priced at $49. Immediately following Trump's conviction on Thursday, the stock was down roughly 15% in extended trading hours.

Trump launched Truth Social in early 2022 as an alternative, "non-woke" social media platform after he was banned from sites like Twitter and Facebook following the Jan. 6 Capitol riots. Since then, Trump Media has gone public and the former president now holds a 65% stake in the company.

Truth Social did not immediately respond to CNBC's request for comment about Trump's move to TikTok.

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