The ‘short’ story behind Donald Trump’s Truth Social platform
NY Post
Shares of Trump Media & Technology Group — the former and possibly future president’s eponymous social-media company — have lost around half their value since going public last month.
It’s easy to see why: Massive operating losses — and let’s face it, aside from Trump himself, just who really uses its Truth Social social-media product?
User traffic on the platform is just a small fraction of its major competitor X (formerly known as Twitter, whose owner Elon Musk continues to pull out his hair trying to figure out how to make his baby profitable nearly two years after taking it private).
And yet with all the selling, Trump Media shares aren’t worth zero — far from it in fact (it closed Friday at $32.59, down from its high of $79.38).
So someone must be buying the stock that trades under the symbol “DJT,” which in case you don’t know, are the initials for the one-and-only, Donald J. Trump.
The question is, who is crazy enough to throw money at a business that reported big losses, is warning of potential insolvency, and offers investors a stock likely to fall a lot further?
