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LINK Shares of Trump's Truth Social drop more than 20% after company discloses $58M loss -- ABC News

The decline erased $2 billion in value and the value of Trump's majority stake.

Shares of former President Donald Trump's social media platform dropped more than 20% on Monday after the company disclosed a net loss at the end of last year of more than $58 million.

The decline erased $2 billion in value and, with it, the value of Trump's majority stake of 57%.

Before Trump Media and Technology Group joined forces with a shell company to go public last week, "management had substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due," the company said in a regulatory filing.

The company also conceded that "TMTG's success depends in part on the popularity of our brand and the reputation and popularity of President Trump. The value of TMTG's brand may diminish if the popularity of President Trump were to suffer."

The performance represented a reality check for a stock that was initially boosted by the enthusiasm of Trump's supporters. On Monday share's closed at about $48, down about 21%.

Trump's stake, on paper, is still valued at more than $3 billion.

Trump is not allowed to sell or borrow against any of his shares for six months. He could ask the board of the directors for a waiver of that so-called lockup provision, but any attempt by Trump to alter that agreement could trigger more selling.

(By the time Trump is eligible to sell his stake in the stock, it may be a "penny stock".)

snytiger6 9 Apr 2

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unfortunately up 6.3% so far today

I expect it to bounce around a bit as it spirals down. The problem is you never know when it will take the final and most determined plunge. A company like DJT that has no real actual intrinsic value will eventually crash and burn.

I expect there will be some highly experience professional day traders who will make money off of it, but I don't think anyone will be wanting to hold it as a long term investment.


This was all part of the plan. My guess the Trump boys bought a lot of the stock as it was going up thanks to the sheeple MAGA nuts. Then sold off quick once they had made enough. This was never going to be a long term investment for anyone with a brain.

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