Trump's biggest flop
'Trump's Stock Bust Came Even Quicker Than I Expected'
Trump Media's DJT stock price has plunged since its SPAC merger. And it's probably going to get worse once Trump himself can sell shares.
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The Lede
While Trump is a political figure, Trump Media's stock price is not really a political story. Sure, there are some fervent followers who believe that buying the stock is akin to supporting the Republican presidential candidate. More broadly, though, TMTG's fall from grace is more of a business story with a hint of cultural weight that let it achieve some meme-stock-like status.
Key Details
- The thing about TMTG is that it is not a good business. Its total revenue was $4.1 million in 2023, and it lost $58 million the same year.
- TMTG refuses to tell investors how many people are signing up for Truth Social, whether they're sticking with the platform, or what's happening in ad sales.
- All in all, for shareholders, this is not a fun roller-coaster ride. The stock is on a steady downward trajectory, and things aren't looking good.
