The social shares of Trump's truth are plummeting

Investors finally saw some of the numbers behind Truth Social, and that sent the stock plummeting.

CNBC reported.

Trump Media's stock price fell on Monday after the social media app company, which is closely associated with former President Donald Trump, reported a net loss of $58.2 million on revenue of just $4.1 million in 2023.

Shares of Trump Media & Technology Group were trading up more than 25% as of 1:08 p.m. ET.

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Trump Media, the owner of Truth Social, an app commonly used by the former president, suffered losses last year that could continue for some time, according to the company.

“TMTG expects to incur operating losses for the foreseeable future,” the filing said, which came a week after the company began trading on the Nasdaq under DJT.

A 25% drop in stocks means a 25% drop in Trump cash. Truth Social is a scam. The company will not publish data on the number of users it has. Truth Social is a money pit and the only reason it exists is as a mechanism to extract more cash from Donald Trump's supporters.

As John Oliver explained on Last Week Tonight, Trump may not sell his stock because it could be the perfect mechanism he can use to get money from foreign governments and profit from the presidency if he wins. returns to the White House.

Truth Social is another Trump scam, and chances are it's his supporters who will be footing the bill.

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Jason is the managing editor. She is also the White House Press Center and Congressional Correspondent for PoliticusUSA. Jason has a BA in Political Science. Her graduate work focused on public policy, specializing in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association