Former President Donald Trump’s social media company, Trump Media & Technology Group, has seen its stock value plummet, losing nearly 72% of its value since March. As the company bleeds cash, Trump’s fortune takes a massive hit, with his net worth plunging by billions. This downward spiral raises doubts about the future of Truth Social and the company’s prospects amid political uncertainty.
Key Details:
- Trump Media shares have fallen 72% since their March peak of $66.22, erasing billions in value.
- Trump’s 114.75 million shares, once worth $6.2 billion, are now valued at just $2.1 billion, knocking him off the Bloomberg Billionaires Index.
- The company posted only $837,000 in revenue last quarter, despite launching Truth+, a streaming service for conservatives.
- Trump Media’s decline is partly fueled by Kamala Harris’s rise in polls after Biden’s endorsement, signalling how much the stock’s fortunes are tied to Trump’s election prospects.
- Insiders, including Trump, may soon be free to sell shares after the lock-up period ends on September 20, which could cause further stock volatility.
With Trump Media facing severe financial headwinds and political uncertainties, even Trump’s staunch supporters may need to rethink their investments. The company’s future hinges on Trump’s political fortunes, making this a high-stakes gamble for investors.
