The Stock of Trump's Tech Company Is Crashing So Hard It Isn't Even Funny

"President Donald Trump's social network, Truth Social, is on life support. Shares of the company that runs it, Trump Media and Technology Group (TMTG), hit a record low this week. Despite an initial surge of enthusiasm after its launch, the company has incurred massive losses, with the company showing increasingly blaring warning signs since Trump took office again in January."

"Shares are down almost 70 percent since the beginning of the year, and down over 80 percent since hitting a record high following the merger last year during the runup to the election. The firm merged with blank check acquisition company Digital World Acquisition Corp. in March 2024, allowing it to be publicly traded under the ticker DJT. The value of the stock is hovering at just $10.73 at the time of writing, barely above Digital World Acquisition Corp.'s October 2021 initial public offering."

"The company has spent tens of millions of dollars on building out its ailing social media business while revenue has flatlined. According to a recent statement obtained by Bloomberg, TMTG lost a staggering $55 million over the three months ending on September 30, as well as abysmal net sales of less than $1 million over the quarter. It has yet to return a profit."

Truth Social’s owner, Trump Media and Technology Group (TMTG), has experienced a sharp decline in share value and persistent operating losses. Shares plunged to record lows, down nearly 70 percent year-to-date and over 80 percent from last year’s peak after merging with Digital World Acquisition Corp. and trading under ticker DJT. TMTG reported a $55 million loss for the quarter ending September 30 and net sales under $1 million while spending tens of millions to expand the platform. The firm holds roughly $1.3 billion in Bitcoin, faces crypto volatility, and remains far smaller than major competitors in user base.

Read at Futurism