--- title: "Truth Social Stock Is Crashing Even Though Trump Won" description: "Shares of president-elect Donald Trump's social media meme stock are plummeting — despite an incisive election victory this week." date: "2024-11-07" modified: "2024-11-07" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/truth-social-stock-crashing-trump-won" categories: - "Future Society" tags: - "donald trump" - "the digest" - "truth social" --- # Truth Social Stock Is Crashing Even Though Trump Won ![Shares of president-elect Donald Trump's social media meme stock are plummeting — despite an incisive election victory this week.]() *\Image: Chip Somodevilla/Getty Images\* ## Post Vote Clarity Shares of president-elect Donald Trump's social media meme stock are plummeting — despite the controversial 78-year-old's decisive election victory this week. The value of Truth Social owner Trump Media & Technology Group shares [plunged on Thursday](), dropping an astonishing 22 percent and wiping out any gains incurred in the week leading up to the election. That's after [spiking 35 percent]() when trading began on Wednesday, a direct response to Trump being reelected as president. While having no sound business to justify its multi-billion dollar valuation, TMTG has long been seen as a proxy for Trump's chances of winning the election. **But** now that he**'s** won the election, there's a chance that investors have seen enough. ## Stock Characters TMTG has already been through a turbulent year, with shares [hitting record highs]() following its merger with a blank check acquisition company in March. After a precipitous decline, late last month the stock [rallied](), likely responding to renewed optimism about Trump's chances of returning to the Oval Office, but quickly came crashing back down by the end of the month in what turned out to be its [biggest one-day loss since going public](). Despite its latest slide, the company is still worth a staggering $6.3 billion, putting it within spitting distance of [estimates]() of the valuation of Twitter-formerly-X, which is owned by Trump's right-hand man Elon Musk. Has Trump's [return to the competing platform]() spooked his own investors? What's far more likely is that TMTG's valuation has little if anything to do with the future success of Truth Social, a platform that has [struggled greatly]() to attract new users or achieve meaningful revenue in its current form. Now that Trump has secured his spot in the White House, it remains to be seen where the project will go next. Will investors be willing to continue to prop up his meme stock — or will they look at other ways to line the pockets of the president? It's a bizarre inflection point, and it's bound to presage further extreme fluctuations. In other words, the rollercoaster ride is far from over. **More on TMTG:** *[Donald Trump's "Truth Social" Meme Stock Just Had Its Worst Day Ever]()* ## 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]()