BREAKING: Donald Trump is slammed with a Friday disaster as the share prices for Trump Media, owner of Truth Social, plummet below $30 — a stunning collapse that means the company has lost half of its market cap.
But it gets so much worse for Trump...
This is the fifth straight day this week that Trump's social media stock has dropped. In the last week alone, share values have dropped by close to 25% meaning that billions have been erased. At one point, the market cap was over $7 billion.
The reason for the humiliating drop in value is twofold. It was revealed recently that Truth Social lost a staggering $58 million last year after managing to generate just $4 million in revenue. The business is an absolute turkey.
On top of that, the company is inextricable from Trump's brand and as he grows more and more overtly fascist, that brand becomes more and more radioactive. Trump and Truth Social at soldered together at the hip — and increasingly Americans hate both of them.