Former President Donald Trump’s media and tech company announced Tuesday it is launching a streaming video service. Meanwhile, the firms’s stock continued to plummet. 

Trump Media & Technology Group said it will roll out the streaming service in three phases. The first will bring live TV to the Truth Social app on Android and Apple devices as well as on the Web. The second phase will introduce stand-alone streaming apps for phones, tablets and other devices. And the third will include streaming apps for home TV.

The company did not provide a timeline for each phase.

TMTG said the content will include live TV, including news networks; religious channels; family-friendly films and documentaries; and “other content that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services.”

"We're excited to move forward with the next big phase for Truth Social," said company CEO Devin Nunes, a former California congressman. "With our streaming content, we aim to provide a permanent home for high-quality news and entertainment that face discrimination by other channels and content delivery services. 

“There is a lot of great content that simply can't find an audience for unjust reasons, and we want to let these creators know they'll soon have a guaranteed platform where they won't be cancelled,” Nunes added.

Shares of TMTG had fallen nearly 14% as of Tuesday afternoon, down to $22.92. On Monday, the company’s stock sunk 18% after it announced it is issuing 21 million additional shares. 

Since Digital World Acquisition Corp., a publicly traded shell company, merged with TMTG, bringing Trump’s company to the stock market, shares have fallen nearly two-thirds from their peak of $66.22 on March 27.