Things are suddenly looking incredibly bad for Trump's social media company [View all]
President Donald Trump’s struggling Truth Social social network, traded on the stock market as Trump Media & Technology Group (TMTG), revealed earlier this month that it had burned through a staggering $712.1 million last year — while only making $3.7 million.
The company’s alarming financials did little to buoy waning investor enthusiasm, with shares continuing a months-long plunge that reached an all-time low last week.
Somehow, the situation has only gotten even more dire since then, with shares dipping well below $9. At the time of writing, TMTG’s shares are circling the drain at around $8.59, a stunning loss of over 50 percent over the last six months and over six percent today alone.
It’s a far cry of the venture’s record high of just shy of $80 shortly after it merged with a blank check acquisition company in March 2024, a move allowing it to be publicly listed under Trump’s initials, DJT.
https://www.msn.com/en-us/money/markets/things-are-suddenly-looking-incredibly-bad-for-trump-s-social-media-company/ar-AA1YZyCh
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