Truth Social losing money. has scant sales

[struggle4progress]

4. Why would anyone invest in it?

BY MICHAEL HILTZIKBUSINESS COLUMNIST
MARCH 22, 2024 2 PM PT

The headline Trump news on Friday was that investors in Truth Social, his money-losing social media platform, voted to take it public at a valuation that could net the former president about $3 billion.

There’s some press conjecture that the transaction will relieve Trump’s current cash crunch, which includes the necessity of his posting a bond to cover a roughly $500-million court judgment by Monday to stave off the seizure of some of his properties by New York Atty. Gen. Letitia James. That speculation is probably, though not certainly, wrong.

From a financial standpoint, the primary questions are: Should you believe that figure? And, would anyone in their right mind invest in this thing? ...

In a prospectus issued last month, DWAC disclosed that Truth Social collected a mere $3.4 million in revenue during the first nine months of 2023 and booked a loss for that period of $49 million ...

https://www.latimes.com/business/story/2024-03-22/column-trumps-media-company-is-going-public-netting-him-billions-why-would-anyone-invest