--- title: "Trump’s “Truth Social” Stock Crashes After Chaotic Return to Twitter" description: "Donald Trump returned to Elon Musk's X-formerly-Twitter. Meanwhile, shares for Trump's media company, which owns Truth Social, crashed." date: "2024-08-13" modified: "2024-08-13" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/trump-truth-social-crashes-twitter" categories: - "Future Society" tags: - "donald trump" - "the digest" - "trump media" - "truth social" --- # Trump’s “Truth Social” Stock Crashes After Chaotic Return to Twitter ![Donald Trump returned to Elon Musk's X-formerly-Twitter. Meanwhile, shares for Trump's media company, which owns Truth Social, crashed.]() *\Image: Getty / Futurism\* ## Abandoned Last night, in a [glitchy interview]() with billionaire Elon Musk, former president Donald Trump made his triumphant return to X-formerly-Twitter. Meanwhile, the stock price for [Trump Media & Technology Group]() (TMTG) — the company that owns the former president's Twitter alternative Truth Social — plummeted. TMTG [went public]() after merging with a blank check acquisition company in March of this year, but its entry into the public marketplace [has been chaotic,]() to say the [absolute least](). The company is still [astronomically overvalued]() and has been [losing millions of dollars](). And [according to *Business Insider*](), Trump's big X homecoming has the company's trading price going from bad to worse. On Monday evening, ahead of Trump's chat with Musk, shares of DJT — yes, the stock's NASDAQ ID is just Trump's initials — were already down five percent. As of Tuesday morning, the stock was down another 3.5 percent. In short, Trump's return to a rival platform may not be great for business after all. ## Greener Grass TMTG's dependence on Trump's use of its flagship product is something that the media company itself has admitted. Per [*Quartz*](), in a June Securities and Exchange Commission (SEC) [filing](), TMTG wrote that its "business plan relies on President Donald J. Trump bringing his former social media followers" to Truth Social. It also listed Musk's X as a competitor. And to that end, for all of its own problems — [of]() [which]() [there]() [are]() [many]() — it's worth noting that X [still draws]() a decent amount of users. Meanwhile, Truth Social's comparatively puny user base [has been shrinking](). TMTG's most recent earnings report also posted a $16 million loss for Q2, according to *BI.* It'll be fascinating to see how Trump's return to [frenemy]() Musk's X will continue to impact TMTG. The company has yet to find a meaningful way to make any money, despite its multibillion-dollar valuation. Trump's public embracing of one of his social network's biggest competitors likely won't help the situation, either. **More on DJT:** [*Trump's "Truth Social" Stock Is Crashing Again*]() ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()