Donald Trump’s inexplicably massive payday keeps getting smaller, as shares in his social media firm plummeted again on Monday. As of mid-afternoon Eastern Time, Trump Media & Technology Group’s stock had crashed another 19 percent; it is now trading at just 40 percent of its peak from late last month. The firm—whose subsidiary, Truth Social, competes with Elon Musk’s platform, X—is still worth more than $3.5 billion on paper.
That figure vastly outstrips the value of most companies with TMTG’s financial performance: Last year, it posted revenue of just $4.1 million, with total losses of $58.2 million. Trump owns a majority stake in the business, though he and other executives are not able to liquidate their shares for approximately five more months.
Last week, the former president held a party at his resort Mar-a-Lago to celebrate TMTG’s public offering. Some of his acolytes, however, are beginning to grow nervous about their investments. The news represents even more bad news for Trump as he faces the first day of his criminal trial in Manhattan. Read more at Forbes.
This is terrible. Trump should resign immediately.
Tipa serura. SO WHAT?