signalmankenneth
Verified User
Former president Donald Trump's meme stock is in freefall.
Shares of Trump Media & Technology Group (TMTG) have slid significantly this week, falling nearly nine percent today alone.
The news comes after Trump reiterated that he'll double down and continue to use Truth Social, a far right social media platform owned by TMTG, despite major losses and a seriously dubious financial outlook.
Shares of the group have been tanking ever since it merged with a blank check acquisition company last month, falling almost 25 percent in the last five days.
At the time of writing, shares are hovering around $42, well below the price at the merge, wiping out billions of dollars in value, including $1 billion of Trump's own net worth.
Trump, as he often does, has responded with seething grievance.
"When I ENDORSE a politician on TRUTH, they almost ALWAYS WIN," he wrote in a rambling and incoherent Truth Social post on Thursday. "If it didn’t work, or properly get the word out, I wouldn’t use it — But it does work, and work really well — And the fun is just getting started!!!"
https://www.yahoo.com/finance/news/trump-seethes-truth-socials-stock-173630276.html
Shares of Trump Media & Technology Group (TMTG) have slid significantly this week, falling nearly nine percent today alone.
The news comes after Trump reiterated that he'll double down and continue to use Truth Social, a far right social media platform owned by TMTG, despite major losses and a seriously dubious financial outlook.
Shares of the group have been tanking ever since it merged with a blank check acquisition company last month, falling almost 25 percent in the last five days.
At the time of writing, shares are hovering around $42, well below the price at the merge, wiping out billions of dollars in value, including $1 billion of Trump's own net worth.
Trump, as he often does, has responded with seething grievance.
"When I ENDORSE a politician on TRUTH, they almost ALWAYS WIN," he wrote in a rambling and incoherent Truth Social post on Thursday. "If it didn’t work, or properly get the word out, I wouldn’t use it — But it does work, and work really well — And the fun is just getting started!!!"
https://www.yahoo.com/finance/news/trump-seethes-truth-socials-stock-173630276.html
