Posted 4/16/2024, 10:02:00 PM
Trump Media Struggles as Truth Social Stock Plummets 70%
- TMTG stock has plunged over 70% from its peak after merger to go public
- Truth Social announced an expansion into streaming, concerning investors due to high costs
- Trump Media lost $58M in 2023 and only made $4.1M revenue, so is raising more cash by selling shares
- Truth Social aims to provide a "permanent home" for content "suppressed on other platforms"
- Declining stock price has cut Trump's net worth from a peak of $5.2B down to about $1.8B
