Posted 3/27/2024, 4:28:00 PM
Trump's Truth Social Goes Against the Bears as Stock Skyrockets, Squeezing Short Sellers
- Truth Social parent company's stock surged over 60% in trading debut to become most expensive US stock to bet against
- Short sellers face annual financing costs of over 150% to borrow necessary shares due to high demand
- At one point, Truth Social short-sellers suffered about $61 million in losses
- Trump's personal net worth now over $7 billion due to stock surge
- Experts say stock price "untethered from fundamentals" and likely to plunge long-term given company's struggles
