Posted 4/1/2024, 9:21:00 AM
Trump Media Company Valued at Billions Despite Modest User Base and Revenue
- Trump Media & Technology Group (TMTG) stock price surged after its SPAC merger, briefly valuing it at $9B despite little revenue
- TMTG owns Truth Social, a conservative Twitter copycat, but its user base is likely a fraction of mainstream platforms
- Other conservative social media companies like Rumble and Truth Social have struggled after initial stock pops
- TMTG lost $49M in the first 9 months of 2022 on just $3.4M in revenue - not a thriving business
- Meme stock investors could drive up TMTG stock, but long-term outlook seems doubtful given financials and precedent