Trump’s "Truth Social" Stock Hits All-Time Low After Going Public

"The revenue just isn't there."

Downward Spiral

Donald Trump's failing Truth Social network is hitting new lows as its post-merger stock price plummets lower than ever before.

Back in late March, when the social network's parent firm was finally approved to merge with a special acquisitions vehicle to take the operation public, the company's stock skyrocketed to $78 a share in a move that defied investor logic.

As of today, though, that once-vaunted stock price is hovering around $21 per share — and ever since the opening bell, it's continued to drop.

Traded under the name Trump Media and the ticker $DJT, Truth Social's value has always been inextricably tied to the fate of the GOP presidential nominee.

As Fortune notes, the social network's biggest draw was that it was formerly the ex-prez's only digital mouthpiece. Between Trump joining TikTok in June and returning to Twitter earlier this month, however, Truth Social seems to have lost the air of exclusivity that was its entire selling point.

Bullish Buyers

Despite ill tidings on the stock front, Truth Social's backers defend their decision to purchase shares in the failing website that has also hemorrhaged money and struggled to grow its user base.

In interviews with ABC News, Trump Media investors suggested that they straight up don't care that the stock value is falling — a metaphor, perhaps, for the GOP candidate's supporters' reelection fervor in the face of Kamala Harris' increasing momentum.

From a woman who owns a modest five shares in the company to businessmen who purchased thousands, the Truth Social investors ABC spoke to suggested that buying in was one of the ways they supported Trump, which seems to make the performance of the stock all the less important to them.

"I did it more as a statement to President Trump and to show support at the time," Teri Lynn Roberson, the aforementioned low-ball investor, told the news outlet. "I wasn't really looking to make a lot of money."

Roberson purchased her shares in Trump Media near the stock's peak in March, and recognized that she's "way at a loss" — but at the end of the day, she's "OK with that."

North Carolina business owner Michael Rogers, meanwhile, said he bought a whopping 10,000 shares both to show support and to get involved in the social network that he somehow sees succeeding.

Now, as Truth Social's parent company stock plummets and Trump himself reaches the go-ahead to begin selling off his own stake, Rogers has somewhat changed his tune.

"The revenue just isn't there," he told ABC. "That's something the company has to work on."

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