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Trump's "Truth Social" Stock Is Crashing Again

Below the Belt

In the past two days, Donald Trump's social media company Truth Social has suffered a precipitous drop in the stock market, continuing a weeks-long slide into the proverbial dumpster fire since Trump was slapped with 34 felony convictions last month.

Monday alone saw the stock price for Truth Social's parent company Trump Media & Technology Group (under the ticket name "DJT") decrease by 6.29 percent.

And then the meme stock dropped even further on Tuesday, by nearly ten percent by the end of the day to $31.31.

Overall, the stock has suffered a "yuge" 40 percent decrease since May 30, when Trump became the first American ex-president to be convicted of a felony — and specifically for arranging hush money to a porn star he had sex with in a black market effort to influence the 2016 elections.

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Trump, who's the majority shareholder of the stock, has been estimated to have lost an eye-popping $267,367,500 million because of his countless Truth Social shares, according to Newsweek's calculations

Whither Twitter

It's all bad news for Truth Social, which is also shedding users with May daily visits being down more than 21 percent versus April, and which lost an astonishing $327.6 million in the first quarter of 2024.

Year to year numbers aren't great either: Truth Social averaged more than 4 million visits per month from May 2023 to April 2024, but this is a more than 39 percent drop compared to the previous 12 month span.

Another blow to Truth is that the company can't stop Trump from using another social media network, according to a newly amended company registration statement on Monday.

This comes weeks after Trump jumped to TikTok in order to campaign on the wildly popular social media platform.

And with Trump free to go anywhere, could this mean he'll return to his favorite hunting grounds of X-formerly-Twitter, abandoning the dying Truth Social?

Who knows, but both Trump and X owner Elon Musk have one thing in common that they can talk about: falling stock prices.

More on Donald Trump: Donald Trump Reportedly Wants to Get Elon Musk Back in the White House