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Truth Social's Stock Price Can't Seem to Stop Falling After Trump's Brutal Defeat in the Midterms
Futurism • • business
Key Points:
- Shares of Trump Media & Technology Group (TMTG), the parent company of Donald Trump’s Truth Social, hit an all-time low following the president’s party’s historic midterm election defeat, with stock prices falling from $80 in March 2024 to below $4.
- TMTG reported a massive $238 million loss while generating less than $2 million in revenue, highlighting the company’s struggles as a viable business and its dependence on Trump’s waning popularity.
- Despite attempts to pivot into areas like prediction markets, Bitcoin investments, and a merger with a nuclear fusion company, TMTG has failed to gain significant market traction.
- Some early investors, including loyal supporters like Chad Nedohin, have expressed disillusionment with the company’s direction and have sold their shares, feeling that TMTG has deviated from its original mission of promoting free speech.
