After going public, Trump‘s “Truth Social”

stock reaches an all-time low.

 

 

 

“The revenue just isn’t there.”

The post-merger stock price of Donald Trump‘s faltering Truth Social network is plunging to levels never seen before, as it reaches new lows.

The social network’s parent business’s shares shot up to $78 per share in late March, defying market rationale when the company was finally permitted to merge with a special acquisitions vehicle to take the operation public.

But as of right now, the once-heralded stock price is trading at about $21 per share, and it has been declining since the opening bell.

Truth Social, which is traded under the ticker $DJT and is named Trump Media, has always had a direct bearing on the outcome of the GOP presidential nominee.

The main attraction of the social network, according to Fortune, was that it was formerly the ex-prez’s sole online spokesperson. However, after Trump joined TikTok in June and returned to Twitter earlier this month, Truth Social doesn’t seem to have the exclusivity that was its whole point of differentiation.

Truth Social’s investors stand by their choice to invest in the faltering website, which has also lost money and had difficulty expanding its user base, despite negative news regarding the stock market.

Trump Media investors stated in interviews with ABC News that they simply don’t care that the stock value is declining; this might be interpreted as a metaphor for the fervour with which the GOP candidate’s supporters are pursuing reelection in the face of Kamala Harris’ growing momentum.

The Truth Social investors ABC spoke with said that investing in the company was one of the ways they supported Trump, which seems to make the stock’s performance all the less relevant to them. These investors ranged in size from businessmen who bought thousands of shares to a lady who owns a meagre five shares.

“I did it more as a statement to President Trump and to show support at the time,” low-ball investor Teri Lynn Roberson told the news website. “I wasn’t looking to make a lot of money.”

Having purchased her Trump Media shares near the company’s March peak, Roberson said that she is “way at a loss” on them, but she is ultimately “OK with that.”

In the meantime, North Carolina businessman Michael Rogers claimed to have joined the social network, which he thinks has some potential for success, and to have bought an incredible 10,000 shares out of support.

Rogers has now somewhat changed his tune as the stock of Truth Social’s parent business plummets and Trump receives approval to start selling off his share.

According to him, “the revenue just isn’t there,” for ABC. “That’s something the company has to work on.”