--- title: "Trump Seethes as Truth Social’s Stock Price Gets Absolutely Hammered" description: "Shares of Trump Media & Technology Group have slid significantly this week, falling over eight percent in the last 24 hours alone." date: "2024-04-05" modified: "2024-04-05" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/trump-seethes-truth-social-stock-hammered" categories: - "Future Society" tags: - "donald trump" - "the digest" - "truth social" --- # Trump Seethes as Truth Social’s Stock Price Gets Absolutely Hammered ![Shares of Trump Media & Technology Group have slid significantly this week, falling over eight percent in the last 24 hours alone.]() *\Image: Getty / Futurism\* ## Stocker Energy 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!!!" ## The Conald Analysts, who've long predicted this outcome, have argued that thanks to a lack of any semblance of revenue growth, TMTG shares are "[grossly overvalued]()." Last week, news emerged that Truth Social made a [measly $4.1 million in revenue]() for all of 2023, despite having lost more than $58 million over the same period. Even after the slump, TMTG has a market capitalization of over $5.7 billion, eclipsing the company's revenues. "I mean, it’s ridiculous," Barry Diller, chairman of holdings company IAC and Expedia, [told *CNBC*]() on Thursday. "The company has no revenue." "It’s a scam, just like everything \[Trump's\] ever been involved in is some sort of con," he added. Case in point, earlier this week, two Florida brothers [pleaded guilty]() to being involved in a $23 million insider-trading scheme leading up to TMTG's merger. Democratic lawmakers are also [calling for Congress]() to investigate the merger, citing a [*Guardian* report]() that alleges TMTG relied on emergency loans, which were provided by a Russian-American businessman — who's currently under criminal investigation. In short, it's no wonder investors are advised to stay far away from the company. "It is a new day for Trump Media," *Forbes* contributor and investment analyst John Tobey [wrote](), arguing there's "no special future potentiality to speculate on." "Therefore, if the stock doesn’t jump above $50 on Friday, holding on looks especially risky, and searching for another investment looks especially promising," he added. **More on the merger:** *[Trump Sues "Truth Social" Cofounders as Company's Stock Crumbles]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()