Truth Social Stock Crashes to All-Time Low After Trump's Train Wreck Debate Performance

"The perception in the market is she won the debate."

Badum Abyss

Former president Donald Trump's abysmal performance at last night's presidential debate against his rival, vice president Kamala Harris, has clearly rattled even his die-hard investors.

Shares of his Truth Social meme stock plummeted in early trading on Wednesday, setting yet another all-time low record. Shares are hovering just above $16 at press time, a whisper of their one-time heights of nearly $70 per share.

The most recent slide has taken yet another bite out of Trump's potential selloff, effectively erasing all his company's stock gains.

In just over a week the six-month lockup period will end, giving the former president the green light to sell off his 114 million shares, or roughly 60 percent of the company's outstanding stock.

But whether he'll start offloading his shares remains to be seen. The value of those shares has dropped by well over $4 billion since Trump Media merged with a blank check acquisition company in March. At the time, shares spiked to incredible highs — a value that now seems beyond reach just six months later.

Baited Breath

Trump's rambling and factually bereft answers during Tuesday's presidential debate left investors unimpressed. The former president appeared unprepared and went on several unhinged rants, easily falling for bait tossed his way by Harris.

Ahead of the debate, investors remained confident, leading to shares surging as much as ten percent on Tuesday.

But his disastrous performance ended up putting yet another nail in the coffin of Trump's meme stock. Shares have declined by 35 percent in the past month alone, hitting new all-time lows for weeks.

"The perception in the market is she won the debate," Tuttle Capital Management CEO Matthew Tuttle told CNN, referring to Harris.

Even at its much lower stock price, Trump Media is still worth several billion dollars — almost certainly still a grossly exaggerated valuation. Last year, the company lost a staggering $58 million while only making $4.1 million over the same period.

"Given its lack of earnings and other quantifiable metrics, DJT is not exactly a traditional growth or value play for investors," AgentSmyth chief strategy officer Michael Block told CNN, referring to Trump Media's stock ticker. "DJT is a story stock and perhaps investors didn’t like the story that President Trump was telling the world last night."

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