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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's net worth has tumbled by $2 billion since Truth Social stock peaked last month
https://www.cnn.com/2024/04/08/investing/trump-stock-net-worth-truth-social/index.html?utm_source=business_ribbon
New York
CNN
Shares of Trump Media & Technology Group continue to rapidly fall back to Earth.
The Truth Social owner dropped by another 10% on Monday, adding to a brutal week that wiped out a third of the stocks value.
The selloff has shrunk former President Donald Trumps stake in the controversial company to about $2.9 billion. Thats down sharply from a peak of $5.2 billion based on the closing high of $66.22 on March 27, the day after it went public.
Trump owns a dominant stake of 78.8 million shares in Trump Media, which launched in 2021. Its plan to go public by merging with a shell company was delayed for years by regulatory and legal scrutiny.
When Trump Media finally went public late last month, experts immediately warned that Wall Street was drastically overvaluing the company based on traditional fundamental metrics like revenue and users.
Last week, Trump Media disclosed losing $58 million last year on very light revenue of just $4.1 million. By comparison, Twitter (now known as X) generated more than 100 times as much revenue $665 million in 2013 ahead of its initial public offering in November of that year.
New York
CNN
Shares of Trump Media & Technology Group continue to rapidly fall back to Earth.
The Truth Social owner dropped by another 10% on Monday, adding to a brutal week that wiped out a third of the stocks value.
The selloff has shrunk former President Donald Trumps stake in the controversial company to about $2.9 billion. Thats down sharply from a peak of $5.2 billion based on the closing high of $66.22 on March 27, the day after it went public.
Trump owns a dominant stake of 78.8 million shares in Trump Media, which launched in 2021. Its plan to go public by merging with a shell company was delayed for years by regulatory and legal scrutiny.
When Trump Media finally went public late last month, experts immediately warned that Wall Street was drastically overvaluing the company based on traditional fundamental metrics like revenue and users.
Last week, Trump Media disclosed losing $58 million last year on very light revenue of just $4.1 million. By comparison, Twitter (now known as X) generated more than 100 times as much revenue $665 million in 2013 ahead of its initial public offering in November of that year.
One of life's simple satisfying pleasures is watching DJT tumble downward predictably
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Trump's net worth has tumbled by $2 billion since Truth Social stock peaked last month (Original Post)
IronLionZion
Apr 8
OP
NoMoreRepugs
(9,479 posts)1. I do so enjoy watching DJT fall lower and lower.
marble falls
(57,350 posts)2. ....
?si=nuzq9_c6ruXr10zm
LetMyPeopleVote
(145,666 posts)3. This makes me smile
GreenWave
(6,777 posts)4. So he is at $ -2,000,000,000 now.
Torchlight
(3,374 posts)5. One of his so-called Genius Moves?
Or just another bumbling, bitter bunko by a boastful, bankrupt, and belligerent bore?
(I'm going with #2, but only because I dig alliteration)