With a Trump-branded company newly trading on the stock market, former President Donald Trump recently expanded his wide-ranging business activities in a new direction… and quickly started sustaining hits. This weekend, the stock price for the Trump Media and Technology Group was only about half of a late March high.
The company is responsible for Trump’s knock-off social media site Truth Social, where usage rates still pale in comparison to those of mainstream platforms. “I am so proud of Truth Social, because I believe it represents the Make America Great Again Movement, and it shows the Spirit and Love of our Country,” Trump said Friday on the site. “If people who believe in putting America First and want to Make America Great Again, support TRUTH, we will be your Voice like never before, and a Real Voice is what our Country needs, because we are in decline, and must bring America to Greatness.”
It sounds like he’s trying to solicit investment interest in the company, considering that’s an easy, real-world parallel for the “support” that he’s discussing. Trump himself holds a majority of the company’s shares, but he is reportedly restricted — for now — from cashing out, forcing him to be merely an audience member for the stock market volatility that affects the value of his holdings as well.
A financial analyst for CNBC recently raised even national security questions amid discussions of what the future for the Trump company will look like in light of its current upheaval, stock pricing-wise. In short, money invested in Truth Social — more specifically, its publicly traded parent company — could, in theory, boost Trump himself. So who’s going to be making these investments? Before the Trump-named company began its trading, Digital World Acquisition Corp. (DWAC), with which the previously private Trump firm merged, was already traded, and investments were already popular among Trump’s political supporters when options to invest in the endeavor were just DWAC.
