The stock price for the Trump Media & Technology Group (TMTG) sunk again on Monday, which happened to also be the first day of former President Donald Trump’s first criminal trial, which was taking place in New York City. The decline on the stock market, though, was connected in media reports to other developments, namely, the parent company for Truth Social unveiling plans for issuing additional stock shares.
Just on Monday, the stock price for that Trump company fell by about 16 percent by just after noon on the East Coast. Over the month leading up to Monday, the decline was about 30 percent, though that statistic didn’t fully capture the decline specifically since highs seen in March, when share price surpassed $66. It was at just above $27 early Monday afternoon.
Truth Social, which is this Trump company’s main focus, is the Trump-aligned social media platform that the former president has been using since the restrictions (and later uncertainty) surrounding his usage of mainstream sites after the 2021 Capitol riot. Though Trump stumps for the newer platform, it appears that usage remains substantially below the usage rates at mainstream platforms.
“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,” Trump recently told his followers. It sounded somewhat like he hoped to draw investment interest in the operation, considering that’s an easy, real-world application of the “support” he was discussing.
Some observers already seriously questioned the value at which the Trump company was trading after finally completing a merger with an already publicly traded company, Digital World Acquisition Corp. (DWAC), effectively looking towards a possibility that’s now become reality: a cascade of declines affecting investors likely to include some of the former president’s political supporters.
