--- title: "Trump’s “Truth Social” Stock Is Officially in Free Fall" description: "Former president Donald Trump's \"Truth Social\" meme stock is officially in free fall, sliding 15 percent after Thursday's close." date: "2024-06-21" modified: "2024-06-21" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/trump-truth-social-stock-free-fall" categories: - "Future Society" tags: - "donald trump" - "the digest" - "truth social" --- # Trump’s “Truth Social” Stock Is Officially in Free Fall ![Former president Donald Trump's "Truth Social" meme stock is officially in free fall, sliding 15 percent after Thursday's close.]() *\Image: Alex Wong/Getty Images\* ## Free Fallin' Former president Donald Trump's "Truth Social" meme stock is officially in free fall, sinking 15 percent after Thursday's close and accelerating a weekslong decline. Shares have slid more than 40 percent since the start of the month, indicating a major sell-off is far from over. On Friday alone, shares have plummeted more than a whopping six percent — and the day of trading is far from over. In a single month, Truth Social owner Trump Media Technology Group (TMTG) has [wiped out almost $3 billion in valuation](). There are plenty of reasons behind the meme stock's massive volatility since it merged with a blank check company in March. For one, TMTG is [astronomically overvalued](), especially given Truth Social's pitiful user base. The social media company has [bled hundreds of millions of dollars](), dwarfing the company's meager revenue. And with shares plummeting, executives are looking for a way to cash out — so investors are becoming wary, accelerating a decline that's been going on for weeks now. ## Get Out Analysts suggest a big reason behind this month's decline is the Securities and Exchange Commission approving the resale of additional shares, with TMTG hoping to [raise roughly $247 million]() in proceeds. The approval, which was announced on Tuesday, sent shares of TMTG plummeting by more than 17 percent. Even before that, the decline kicked off with Trump being [found guilty on all 34 felony counts]() in his hush money trial last month. But whether shares will hit a new rock bottom, beating out its record all-time low of just $22.84 in mid-April, remains to be seen. Shares are hovering at just below $25 at press time. While he's not the number one in charge on paper, Trump holds a massive 65 percent stake in the company, meaning his payout is shrinking before his eyes. The former president isn't technically allowed to sell his shares until late September — so it's anyone's guess how much his meme stock will net him in the end. **More on Trump:** *[Journalist Says Trump Suffered "Severe Memory Problems" During Extensive Interviews]()* ## 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]()