Trump Media & Technology Group’s stock price dropped below $20 a share on Wednesday. This marks a new low for the Donald Trump-owned company since it went public five months ago.
Predictably, Trump is having one of his classic public freakouts on his Truth Social site, even as the social media platform rapidly depreciates. Let’s go down the list:
A relentless barrage of offensive right-wing media clips? Check.
An ALL-CAPS tantrum denying that Democratic presidential nominee Kamala Harris is more popular than Trump?
Check!
Is he hawking “digital” trading cards to fleece his MAGA loyalists? “ReTruthed” check!
According to USA TodayTrump Media stock has lost 40% of its value over the past 30 days. Cue the rats! Truth Social CFO Phillip Juhan, CEO Devin Nunes, chief operating officer Andrew Northwall, and general counsel Scott Glabe have all been selling off chunks of company stock. Juhan, Nunes, and Trump must wait until September before they can sell off their common stock.
This new low for the company coincides with Trump resuming his posting on social media competitor X, formerly known as Twitter. Trump recently sold out his own company, granting an interview on the competing platform in order to get fellow insecure billionaire Elon Musk’s endorsement.
Trump’s chance at a big payday remains intactbut if he does decide to cash out large swaths of his shares, the chances that the company’s stock will continue to plummet increase exponentially. Will Trump bet on himself to win in November and hope that victory is a boon for his share prices?
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