Trump's Truth Social Sees Rocky Stock Debut as Trading Frenzy Drives Volatility But User Growth Lags

Truth Social's parent company TMTG had a volatile stock market debut, surging nearly 60% before falling to end the day up 16%
The trading frenzy drew comparisons to "meme stocks" like GameStop, though experts say it's ideologically driven by Trump supporters
At its peak, TMTG was valued at over $10 billion despite little revenue and expecting operating losses for the foreseeable future
Truth Social has struggled to build a user base, with just 494,000 monthly active users in February 2023
Trump owns nearly 79 million TMTG shares but likely can't sell for 6 months due to a lock-up period, meaning he can't yet access paper wealth