--- title: "Trump Guilty Verdict Sends “Truth Social” Shares on a Rollercoaster Ride" description: "In the aftermath of Donald Trump's \"hush money\" guilty verdict, Truth Social shares plummeted — only to jump back up and then fall again." date: "2024-05-31" modified: "2024-05-31" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/trump-guilty-verdict-truth-social-stock" categories: - "Future Society" tags: - "donald trump" - "Stocks" - "the digest" - "truth social" --- # Trump Guilty Verdict Sends “Truth Social” Shares on a Rollercoaster Ride ![In the aftermath of Donald Trump's "hush money" guilty verdict, Truth Social shares plummeted — only to jump back up and then fall again.]() *\Image: Gotham / GC Images via Getty / Futurism\* ## Sunrise, Sunset In the immediate aftermath of Donald Trump's ["hush money" guilty verdict](), shares for his [ailing social network](), Truth Social, plummeted — only to jump back up and then fall once again Friday morning. As the [*New York Times* observes](), this sort of volatility isn't exactly unusual for Truth Social owner Trump Media, but this instance is an apt example of how bad news often ends up rallying the former president's supporters — instead of scaring them away. The size of the swing, too, seems to reflect the extenuating circumstances. In after-hours trading, the meme stock fell as much as 14 points, spiked just after the markets re-opened, and plummeted yet again. For those who made the peculiar decision to invest in Truth Social, this wobbly value trajectory is par for the course. "This stock has always represented a bet on Trump winning the 2024 election (and using Truth Social as his primary platform)," Matthew Kennedy, the senior IPO strategist at the Renaissance Capital firm, [told *CNN*](). ## Collector's Investment In [an interview with *Quartz* last month](), John Rekenthaler, the VP of research at the investor relations firm Morningstar, pointed out that those who bought stock in Trump Media likely weren't doing so to make money — but regardless of which way it swung, the trial's outcome likely wouldn't have made much of a difference for their bottom lines. "I think anytime Donald Trump is in the news is oxygen for the stock, in any way," Rekenthaler remarked. Notably, the [Securities and Exchange Commission tried to warn investors]() ahead of time that the already-volatile stock could experience more tumult in the wake of his trial's conclusion. "An adverse outcome in one or more of the ongoing legal could negatively impact \[Truth Social\]," the recent filing reads. Beyond the stock flip-flopping, Trump's hush money verdict that [found him guilty on all 34 counts]() related to falsifying records to cover up payments to adult film actress Stormy Daniels is also slated to affect his personal net worth, with estimates suggesting he stands to [lose as much as $330 million]() in the company because he owns a majority of its shares. At the end of the day, it remains to be seen what far-reaching outcomes this verdict will have — but as it stands, it's not looking very good on the financial front. **More on Trump:** *[Elon Musk Distances Himself From Possible Trump Presidency]()* ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()