![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Saturday, April 13, 2024 9:26:14 AM
God the practical joker?😇
Truth Social Investors Try to Keep Hope Alive as Stock Tanks
‘THERE IS ALWAYS TOMORROW’... tomorrow, tomorrow, bet your bottom dollar. OH, you did?🤔
But some are holding out hope that Donald Trump’s hyping of the company means better days are ahead.
Noah Kirsch Wealth And Power Reporter
https://www.thedailybeast.com/truth-social-investors-try-to-keep-hope-alive-as-stock-tanks?utm_source=web_push
Updated Apr. 13, 2024 2:59AM EDT Published Apr. 12, 2024 11:28PM EDT
A photo illustration showing Donald Trump under chart showing the stock dropping for Truth Social.
Photo Illustration by Erin O'Flynn/The Daily Beast/Getty Images and Truth Social
Donald Trump’s acolytes gathered at Mar-a-Lago on Wednesday evening to celebrate the public listing of his social media firm, even as the company’s stock continued to crater. Under the Palm Beach sky, right-wing radio host Sebastian Gorka sucked on a cigar, actor Jon Voight posed for photos, and country singer turned Bible salesman Lee Greenwood belted his runaway hit “God Bless the USA.” At the end of the song, he and the former president saluted.
In a speech, Trump encouraged investors to keep calm. “We have over $200 million dollars in cash, which is very liquid,” he said, according to a reporter from Right Side Broadcasting Network in attendance.
On Trump’s social media site, Truth Social, the mood is less ebullient. “Man I really thought we were gonna see a jump today. Especially after that party last night. There is always tomorrow,” one user lamented on Thursday morning.
“Doesn’t it seem strange that the price goes down steadily every day? Haven’t seen a green day for a while,” wondered another.
Shares of Truth Social’s parent company, Trump Media and Technology Group, have fallen more than 50 percent since late March, as the company’s dire financial position has become more clear. Last year, it brought in just $4.1 million in revenue and posted a $58.2 million loss.
Even after tanking, however, the business is still worth more than $4 billion on paper—a number that defies normal valuation metrics. Trump loyalists have helped keep the stock afloat as a way to financially support him, though TMTG remains heavily shorted by investors who believe its shares will continue to fall.
On Truth Social, retail investors are encouraging each other to keep the faith. “When the whole world is set on ruining you with everything that they have got, it’s a good sign that you are likely on the right side of things,” one person wrote on Thursday. Uh, no, it's a conspiracy theorists lament.😏
Another user sought to liken TMTG to high-growth tech companies: “I don’t understand all the concern about this stock going down. All of the big stocks were very low at the beginning,” the person said. “We are less than a month into this being an actual stock. I am optimistic about [Truth Social] and will continue to hold and keep buying when I can.” Should've stopped at 'I don't understand'.😒
Other users speculated that the Mar-a-Lago event was proof that the company is rounding a corner. Why else would executives and bigwigs gather for a raucous party? “I think there is something coming very soon, and they are all excited about it. Something they worked very hard to make happen. A milestone for the team,” one of the believers wrote. “I hope we find out very soon.”
Trump owns a majority of Truth Social’s shares, though he is suing to amass more control. In a lawsuit filed last month, he argued that his two co-founders—who were previously contestants on his reality show The Apprentice—had underperformed in their duties and didn’t deserve their 8.6 percent stake.
The former associates, Andy Litinsky and Wes Moss, have filed their own lawsuit alleging that the company tried to unfairly dilute their stakes. They are also seeking to challenge a six-month lock-up provision on selling their shares.
Some Truth Social users blame the mainstream press for “spreading lies” about the company, as one person framed it. And despite nerves about the stock’s downward slide, many of them have pledged to keep buying shares.
“Just sat down with my broker yesterday and am having him move $10,000 of my Roth IRA, that we had sitting idle for kind of like an extra ‘emergency fund’, into $DJT stocks!” one user declared excitedly. “This is the only time I would hope for the price to drop so I can get as many shares as possible!” Sheer genius or broker malpractice?🤭
Another chimed in: “Not going to be able to sleep tonight. If you stick it out I believe you will be rewarded greatly. I believe God directed me here.”
Recent DJT News
- SolarEdge Stock Falls 13%, Wegovy Approved in China, Grail Nasdaq Debut, Apple Rejects Meta Chatbot • IH Market News • 06/25/2024 10:36:11 AM
- UPS Divests Coyote Logistics in $1.025 Billion Deal with RXO, Under Armour Agrees to $434 million Settlement, and More News • IH Market News • 06/24/2024 11:00:20 AM
- Trump Media Announces $69.4 Million in Initial Proceeds from Warrant Exercise • GlobeNewswire Inc. • 06/21/2024 09:20:00 PM
- Honeywell Acquires CAES Systems for $1.9 Billion, Sarepta Therapeutics Surges 34%, Gilead Continues Gains • IH Market News • 06/21/2024 12:00:38 PM
- Trump Media Resells Stocks and Warrants; KB Home Exceeds Q2 Expectations, and More News • IH Market News • 06/20/2024 10:55:11 AM
- Trump Media & Technology Group Corp. Announces SEC Effectiveness of Amended Form S-1 • GlobeNewswire Inc. • 06/18/2024 08:30:01 PM
- FDA Panel Supports Eli Lilly’s Donanemab, Rio Tinto Expands Stake in Boyne Smelters, and More News • IH Market News • 06/11/2024 11:11:40 AM
- Trump Media & Technology Group Corp. Files Amended S-1 with the SEC • GlobeNewswire Inc. • 06/10/2024 03:08:45 PM
- Apollo Buys 49% of Intel’s Irish Plant for $11bn, BlackRock and Citadel to Create Texas Exchange, and More News • IH Market News • 06/05/2024 11:41:36 AM
- DJT Stock Falls 6% Post-Trump Conviction; UBS Restructures Senior Management for CEO Succession and More News • IH Market News • 05/31/2024 11:54:10 AM
- Trump Media Shares Drop Following Donald Trump Conviction • IH Market News • 05/31/2024 09:19:39 AM
- CalPERS to Oppose Exxon Mobil Directors; Microsoft Unveils Copilot+ PCs with AI Focus, and More News • IH Market News • 05/21/2024 11:18:35 AM
- TMTG Reports First Quarter 2024 Results • GlobeNewswire Inc. • 05/20/2024 08:05:00 PM
- Chubb Stock Soars 9% with Berkshire Acquisition, AST SpaceMobile jumps 37% on AT&T deal, and More News • IH Market News • 05/16/2024 11:27:07 AM
- Tesla’s April Sales Down 18% in China, Amazon’s Multi-Billion Dollar Cloud Expansion in Singapore, and More News • IH Market News • 05/07/2024 11:44:00 AM
- Trump Media Announces Appointment of Semple, Marchal & Cooper, LLP as Auditor • GlobeNewswire Inc. • 05/06/2024 08:15:10 PM
- Trump Media Provides Additional Information to DJT Investors Regarding Recalling Shares • GlobeNewswire Inc. • 04/29/2024 10:00:00 AM
- Coca-Cola and Microsoft Sign Billion-Dollar Agreement, Apple Event Set for May 7, and More News • IH Market News • 04/24/2024 11:28:02 AM
- Trump Media Provides Additional Information To DJT Investors Regarding Short Selling • GlobeNewswire Inc. • 04/23/2024 10:00:44 AM
- Paramount’s Shares Surge Following Sony and Apollo’s Joint Bid; ISS Backs Berkshire Hathaway Director Re-election, and More • IH Market News • 04/19/2024 11:31:22 AM
- Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News • IH Market News • 04/18/2024 11:11:52 AM
- United Shares Surge 5.3% in Q1 2024 Earnings Beat; Take-Two Cuts 5% of Workforce, and More News • IH Market News • 04/17/2024 10:57:39 AM
- Truth Social to Launch Streaming Platform • GlobeNewswire Inc. • 04/16/2024 11:24:00 AM
- Ericsson Soars with 66% Net Profit Growth; Live Nation Under Antitrust Scrutiny in US, and More News • IH Market News • 04/16/2024 11:18:19 AM
- Trump Media & Technology Group Files S-1 Resale Registration Statement • GlobeNewswire Inc. • 04/15/2024 01:17:42 PM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM
ECGI Holdings Targets $9.7 Billion Equestrian Apparel Market with Allon Brand Launch • ECGI • Jun 25, 2024 8:36 AM
Avant Technologies Addresses Progress on AI Supercomputer-Driven Data Centers • AVAI • Jun 25, 2024 8:00 AM
Green Leaf Innovations, Inc. Expands International Presence with New Partnership in Dubai • GRLF • Jun 24, 2024 8:30 AM
Bemax Inc. Positions to Capitalize on Industry Growth with New Improved Quality of Mother's Touch® Disposable Diapers • BMXC • Jun 24, 2024 8:00 AM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM