Trump Supporters Prop Up Truth Social Despite Business Doubts

Truth Social lacks fundamentals and institutional investor foils that boosted meme stocks like GameStop. It has few users, poor financials, and losses that raise doubts about its viability.

Its stock valuation is propped up by Trump supporters who see investing as a way to back the former president, not by strong business prospects.

Investors motivated to support Trump likely don't care if Truth Social actually makes money. If he wins in 2024, interest could fade.

Truth Social doesn't offer much that's unique - its draw is that's where Trump posts. It aims to combine features from other platforms.

Its CEO claims it can't be shut down like Parler because it doesn't rely on "woke" tech companies, but still needs app store access.