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President Donald Trump’s struggling Truth Social social network, traded on the stock market as Trump Media & Technology Group (TMTG), revealed earlier this month that it had burned through a staggering $712.1 million last year — while only making $3.7 million.
The company’s alarming financials did little to buoy waning investor enthusiasm, with shares continuing a months-long plunge that reached an all-time low last week.
Somehow, the situation has only gotten even more dire since then, with shares dipping well below $9. At the time of writing, TMTG’s shares are circling the drain at around $8.59, a stunning loss of over 50 percent over the last six months and over six percent today alone.
It’s a far cry of the venture’s record high of just shy of $80 shortly after it merged with a blank check acquisition company in March 2024, a move allowing it to be publicly listed under Trump’s initials, DJT.
TMTG has desperately attempted to reinvent itself several times over the last year, from dipping its toes into the murky waters of prediction markets — the company’s director and Donald Trump’s son, Donald Trump Jr., remains deeply involved with both Polymarket and Kalshi — and massive purchases of billions of dollars worth of Bitcoin.
Most recently, the company surprised investors with an unexpected foray into the nuclear fusion industry. In December, TMTG announced it was merging with a fusion power company, TAE, formerly called Tri Alpha Energy — a moonshot energy sector play that could take years, if not decades, to pay off.
The company has also hinted at spinning off Truth Social, which could see it shedding its “communication services company” label once and for all.
Given the company’s shares being on life support, the sell off once again highlights the persistent theory that the company’s performance is little more than a gauge for the president’s waning popularity — rather than being based on any meaningful business fundamentals.
The plummeting stock echoes Trump’s approval ratings, which have taken a beating, especially following the start of the US-Israel war on Iran.
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