Truth Social going public net Trump estimated 2 to 4 BILLION

[Mike M (the other one)]

(04-02-2024, 10:35 AM)GMDino Wrote: Also I just saw this that confirms Trump cannot sell his stock for six months.


Over one million dollars in value lost in two days.

He can if the board approves it.

also, meh, losing money just means tax write off

[Belsnickel]

(04-02-2024, 01:26 PM)Mike M (the other one) Wrote: He can if the board approves it.

also, meh, losing money just means tax write off

Only if he cashes out. Stock valuation is just an unrealized gain or loss.

[Luvnit2]

(04-01-2024, 04:55 PM)Nately120 Wrote: Trump pumping and dumping this and keeping all the money for himself is the most big-dick, alpha male, smart capitalist move there is.  Why anyone who admires the guy wouldn't know he's going to do that is beyond me.

Yet no one questions how Obama went from a millionaire to a billionaire in a heartbeat never selling a product. Where did his fortune come from, and can we see his tax returns? 

Pelosi = billionaire
Menendez = Crook and still a US senator while GOP Congressman was forced to resign.

How much money invested (not dump) into Truth Social?

When did he dump it? Just more of your lies and propaganda.

[*Nately120*]

(04-02-2024, 02:29 PM)Luvnit2 Wrote: When did he dump it? Just more of your lies and propaganda.

My post says he is "going" to do that, not that he already has.  This is America, learn to speak English.

[Luvnit2]

(04-02-2024, 11:21 AM)Nately120 Wrote: I mean this with more humor than as a shot at you, but I'm amused you are going to post that Trump cannot sell this stock and then spend the rest of the day posting about how Trump constantly gets away with illegal stuff.  Trump is going to pump and dump harder than Roy Munson's landlady and then once his supporters lose money on this he's gonna say "Joe Biden sabotaged this stock and made you lose all your money" and they'll swallow the hook yet again.

If you feel the stock is going to pushed higher quickly due to Trump supporters or speculators, feel free to invest $500,000, make some quick money in 2 weeks, then dump the stock.

I love how you feel Trump had no risk investing my guess hundreds of millions of dollars in a startup company. 

Anyone thinking is easy to startup a company, go for it, put your house and life savings into it. I hope it works out for you. But all of you won't do it, you would rather sit on the sidelines and then bash others for being successful. Sad really, I thought Democrats are all inclusive with DEI and all they peddle.

[Luvnit2]

(04-02-2024, 11:24 AM)GMDino Wrote: Ha!  Yeah the "he never gets caught" has been heavy lately while his supporters also say everything is "unfair" that happens to him...but I get your point.

 my only guess My only hope would be that the SEC is watching verrryyyy closely to see what he does.

Fixed it for you.

Sorry, Trump made billions off of this investment, whether it is soon or 6 months, the billionaire added to his fortune while you hover in jealousy.

[GMDino]

(04-02-2024, 02:40 PM)Luvnit2 Wrote: If you feel the stock is going to pushed higher quickly due to Trump supporters or speculators, feel free to invest $500,000, make some quick money in 2 weeks, then dump the stock.

I love how you feel Trump had no risk investing my guess hundreds of millions of dollars in a startup company. 

Anyone thinking is easy to startup a company, go for it, put your house and life savings into it. I hope it works out for you. But all of you won't do it, you would rather sit on the sidelines and then bash others for being successful. Sad really, I thought Democrats are all inclusive with DEI and all they peddle.

To the best of my knowledge the only thing Trump invested was the time he takes to post on it.

https://www.reuters.com/technology/who-funded-trumps-truth-social-some-answers-2022-10-28/

Quote:Who funded Trump’s Truth Social?
By Helen Coster and Krystal Hu
October 28, 20226:22 AM EDTUpdated a year ago














Item 1 of 2 The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/Illustration
[1/2]The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

Oct 28 (Reuters) - Ever since former U.S. President Donald Trump launched a new media company aimed at rivaling Twitter, there has been a mystery over who provided the money. Trump didn’t. So who did?

Now there are some answers in a cache of documents provided by lawyers representing William Wilkerson, a former executive who filed a whistleblower claim with the Securities and Exchange Commission (SEC) against the media company and Digital World Acquisition Corp, the blank-check firm taking it public.
Advertisement · Scroll to continue

The documents show Truth Social’s early backers include six businessmen outside of the Silicon Valley mainstream — including two executives from an oil company and a gym chain, several Republican donors, a former U.S. ambassador to Portugal and the head of a mail-order fruitcake company.

The involvement of the previously unnamed financial backers of Trump Media & Technology Group (TMTG) – parent company of social media app Truth Social – shows how Trump tapped his political supporters to launch an outlet aimed at political conservatives and libertarians after he was banned from Twitter and Facebook following the Jan. 6, 2021 attack on Congress.


Representatives for former President Trump and TMTG did not respond to a request for comment about the investors named in the documents, which were submitted to the SEC and Department of Justice by Wilkerson, and other parts of this story.

Digital World Chief Executive Patrick Orlando and TMTG co-founders Andy Litinsky and Wes Moss, who are named in the whistleblower complaint, also did not respond to requests for comment.

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The investors’ involvement in TMTG, gleaned from promissory notes dating from between May 2021 and mid-2022, provides new details on the venture which, as Reuters reported, opens new tab, has struggled to attract tech talent and corporate partners. The names have not been previously reported.


NAMING NAMES
According to the documents, Karl Pfluger, president of Midland, Texas oil and energy company Oryx Midstream Services owned by private equity firm Stonepeak Infrastructure Partners, put in $5.3 million in December 2021 and an additional $4.5 million in March 2022. Pfluger is the brother of August Pfluger, a Republican Congressman in Texas and vocal Trump ally who first earned Trump’s endorsement in February 2020.

In a statement to Reuters, August Pfluger’s spokesperson said he doesn’t have a personal investment in Trump Media & Technology Group, adding: “He earned the endorsement of President Trump long before the creation of Truth Social.”

Patrick Walsh, chief executive of the holding company that controls luxury gym brands including TMPL, Palm Beach Sports Clubs, and LIV, invested a total of $6.2 million between December 2021 and February 2022. He had worked with Phillip Juhan, who was the financial chief at fitness chain operator Town Sports International Holdings until Juhan left to take on the same role at TMTG, according to a May SEC filing from DWAC.

Texas telecom billionaire Kenny Troutt, a vocal Trump supporter, invested $4 million through his money manager Nicholas Merrick between May and November 2021. He donated $200,000 to the Trump campaign in 2016, and another $925,000 to Trump’s 2020 re-election campaigns, according to publicly available campaign finance data.

Roy Bailey, the chief executive officer of Bailey Deason Capital Investments in Dallas, Texas and the national co-finance chairman of Trump’s 2020 re-election campaign, invested at least $200,000 between May and October 2021.

George Glass, an Oregon real estate developer and Trump fundraiser who served as U.S. Ambassador to Portugal during the Trump administration, invested $500,000 on Jan. 24, 2022. Another $100,000 was invested the same day by Bob McNutt, the chief executive officer of a mail-order fruitcake company in Corsicana, Texas. McNutt is a longtime Trump supporter.

Bailey, Pfluger, McNutt, Glass, Walsh and Troutt didn’t reply to requests for comment.

WHISTLEBLOWER COMPLAINT
The $22.8 million in financing from these backers – who operate largely outside the ecosystem of venture capital investors that tech startups often tap – is part of the $38 million of debt TMTG raised since May 2021, according to SEC filings.

TMTG launched Truth Social in February in the Apple App Store and in Google’s Play Store in October.

A year ago, TMTG announced a deal to go public by merging with Digital World Acquisition Corp (DWAC), a special purpose acquisition company (SPAC). The deal is now in doubt amid investigations by the Department of Justice and SEC, which have delayed its closing.

Details of the whistleblower complaint, based on the cache of documents seen by Reuters, were first reported by The Miami Herald and The Washington Post.
If TMTG’s deal with Digital World closes, TMTG would gain access to over $1 billion in cash from DWAC’s institutional investors, such as hedge funds. According to a services agreement dated Feb. 2, 2021, the former president controls 90% of TMTG.

Through a spokesperson for TMTG, the company’s legal department did not comment on the investors but said that Trump hired TMTG Chief Executive Devin Nunes, a former Republican congressman, to create a “culture of compliance and build a world-class team to lead Truth Social.”

SPACs are publicly-traded companies that are formed as a way for investors to pool their money with the intention of merging with a private company, which goes public through the merger.

The documents provided by the whistleblower’s attorneys also include four additional promissory notes collectively worth $9.4 million from entities whose identities Reuters is not able to verify.

The notes are a form of short-term debt that can be converted to shares of the company when TMTG goes public. If that happens, investors receive shares of the company at about half of the price the stock will be trading at, and can immediately sell them, the documents show.

TMTG fired Wilkerson on Oct. 13, claiming that he violated his non-disclosure agreement by sharing information with media outlets, according to a letter from a TMTG lawyer to Wilkerson, shown to Reuters by Wilkerson’s lawyers, Phil Brewster, Patrick Mincey and Stephen Bell.

Truth Social has seen surges of interest, but its user base remains tiny compared to the growth targets TMTG laid out in November, when the company told investors that the app would reach 56 million users by 2024 and 81 million by 2026. Truth Social has been downloaded 2.9 million times across both platforms, according to market tracker Appfigures.

Trump had 4.37 million followers on Truth Social as of Oct. 27, compared to the more than 88 million followers he had on Twitter when the platform permanently suspended him.

[GMDino]

(04-02-2024, 02:40 PM)Luvnit2 Wrote: If you feel the stock is going to pushed higher quickly due to Trump supporters or speculators, feel free to invest $500,000, make some quick money in 2 weeks, then dump the stock.

I love how you feel Trump had no risk investing my guess hundreds of millions of dollars in a startup company. 

Anyone thinking is easy to startup a company, go for it, put your house and life savings into it. I hope it works out for you. But all of you won't do it, you would rather sit on the sidelines and then bash others for being successful. Sad really, I thought Democrats are all inclusive with DEI and all they peddle.

Trump inherited a company, got loans from his father, got bailed out by his father, filed bankruptcy several times, has multiple failed businesses outside of the one handed to him...and he invested $0 in this one.

He born on third and believes he hit a triple.

If the average Joe could catch even a couple of those breaks we'd all be rich.

[*Nately120*]

(04-02-2024, 02:40 PM)Luvnit2 Wrote: If you feel the stock is going to pushed higher quickly due to Trump supporters or speculators, feel free to invest $500,000, make some quick money in 2 weeks, then dump the stock.

I love how you feel Trump had no risk investing my guess hundreds of millions of dollars in a startup company. 

Anyone thinking is easy to startup a company, go for it, put your house and life savings into it. I hope it works out for you. But all of you won't do it, you would rather sit on the sidelines and then bash others for being successful. Sad really, I thought Democrats are all inclusive with DEI and all they peddle.

I'm saying that Trump is going to rake in a buttload of cash from this, I'm not sure why you're taking that as a call to arms to white knight for your boy. 

[Mike M (the other one)]

(04-02-2024, 02:58 PM)GMDino Wrote: Trump inherited a company, got loans from his father, got bailed out by his father, filed bankruptcy several times, has multiple failed businesses outside of the one handed to him...and he invested $0 in this one.

He born on third and believes he hit a triple.

If the average Joe could catch even a couple of those breaks we'd all be rich.

? are you jealous or something? 
And no if that was the average joe, we'd likely be broke after the first bankruptcy.  We have neither the resources, knowledge or access to knowledgeable people that do these things for a living. So odds are already stacked against us.

Filing bankruptcy for a failing business is the best way to protect your personal cash. Trump is far from the only wealthy person that has/will do this. 

[Luvnit2]

(04-02-2024, 02:58 PM)GMDino Wrote: Trump inherited a company, got loans from his father, got bailed out by his father, filed bankruptcy several times, has multiple failed businesses outside of the one handed to him...and he invested $0 in this one.

He born on third and believes he hit a triple.

If the average Joe could catch even a couple of those breaks we'd all be rich.

I am sorry you never learned to work hard and live the American dream and are jealous of anyone who did. 

You see a billionaire does not need excuses of how they failed financially. They also don't need to run for POTUS and all of the grief from being and running for the office.

Did Biden donate his salary to charity? How about Obama? No, they did not, only President Trump did this. Guys like you will never get it, this guy could be golfing 7 days a week, he could be hosting parties with friends and family, could vacation 26 weeks a year anyplace he desired. Instead, he sees the country pride in the dumper, he sees the Democrats left the middle class, left black and Hispanic voters they used for years, but never helped them succeed. 

He sees a world in chaos and Biden without a clue how to fix it. So, he runs again, his reward is our corrupt deep state government uses the FBI, DOJ and CIA to attempt to keep him off the ballot and put him jail while bankrupting his and his family's business.

The ironic part is the liberals spread false propaganda saying Trump will end Democracy while their actions against Trump are ending Democracy. They are saying future actions of Trump will end Democracy as they attempt to keep Trump and RFK Jr. off the ballot. The Democrats claim they are all inclusive until Trump or RFK Jr. challenge their views and attempt to strip their power, then the lies and organized fake media propaganda begins.

Funny thing, I just learned it was Trump who invented "Fake Media", it was actually Hillary Clinton who said it first attacking Fox News. It was Trump who proved the liberal news stations were fake. HRC fires and misses, Trump fires and a blood bath ensues in the media. I enjoy seeing the clips of the biggest liars in cable news at CNN and MSNBC lose their minds, Trump owns them and lives in their head. 

[*pally*]

We get it Luvnit, Trump is all that is good and holy and we mere mortals should bow down to his greatness.

But lets get real

-no salary...he claimed that he took no salary and that he gave the money back to the government but no organization actually acknowledged receiving any money. And of course we never saw his tax returns so I'll believe it when I see it. Trump, BTW, was the 3rd president not to take a salary. Herbert Hoover, a real self-made millionaire, and Kennedy.
-while he claims he took no salary Trump financially benefitted well above what he would have made. He made millions from influencers staying at the Trump Hotel across the street. He made millions from charging the Secret Service full rate at Mar-a-Lago (where he also doubled the initiation fees...can't have the rabble joining) and other Trump Hotels where he and his family almost exclusively stayed. He made money by charging them full price for carts at his golf courses. Those same golf courses that he PROMISED he would be too busy to use but managed to multiple days a week. He forced military flights to go out of their way to Scotland for refueling so they would have to use a Trump Hotel for lodging.
-He hosted parties every weekend at Mar-a-Lago. He walked through the dining room and dined behind velvet ropes like he was a museum piece. He regularly crashed functions in the ballrooms. Sales pitch...pay our crazy prices and the President will make an appearance.
-why did so many of his cabinet and senior officials resign because of corruption or incompetence?

- If he was President out of the goodness of his heart...where in the hell is he? Why isn't he working with Biden to improve things? Why isn't he telling his followers that Joe Biden was duly elected and they need to respect that? Why is he doing everything in his power to undermine the Biden Presidency...even going as far as to claim any positive economic news is only due to his presence?

He succeeded for the first 3 years of his Presidency because he was handed a good economy. His true measure as President showed when the pandemic hit. His abysmal leadership through that tanked the economy, destroyed the supply chain, and left millions unemployed. He refused any transition information to the incoming Biden administration. Joe Biden walked into an alligator pit. And while there have been some stumbles and missteps have managed to get the economy back on the right track. Is it perfect...nope. Are people still feeling some economic pain...yes. But I know and anyone who is really paying attention knows, that we are a helluva lot better off now than we would be if Trump was President. Trump couldn't lead himself out of a paper bag when in trouble.


Oh, and Barack Obama is a millionaire not a billionaire. He made his post-presidency money by writing multiple best sellers, speaking fees, and media production.

He ran for President for power and for his ego not to "save the country" but you believe what you will.
-

[GMDino]

(04-03-2024, 01:33 AM)Luvnit2 Wrote: I am sorry you never learned to work hard and live the American dream and are jealous of anyone who did. 

You see a billionaire does not need excuses of how they failed financially. They also don't need to run for POTUS and all of the grief from being and running for the office.

Did Biden donate his salary to charity? How about Obama? No, they did not, only President Trump did this. Guys like you will never get it, this guy could be golfing 7 days a week, he could be hosting parties with friends and family, could vacation 26 weeks a year anyplace he desired. Instead, he sees the country pride in the dumper, he sees the Democrats left the middle class, left black and Hispanic voters they used for years, but never helped them succeed. 

He sees a world in chaos and Biden without a clue how to fix it. So, he runs again, his reward is our corrupt deep state government uses the FBI, DOJ and CIA to attempt to keep him off the ballot and put him jail while bankrupting his and his family's business.

The ironic part is the liberals spread false propaganda saying Trump will end Democracy while their actions against Trump are ending Democracy. They are saying future actions of Trump will end Democracy as they attempt to keep Trump and RFK Jr. off the ballot. The Democrats claim they are all inclusive until Trump or RFK Jr. challenge their views and attempt to strip their power, then the lies and organized fake media propaganda begins.

Funny thing, I just learned it was Trump who invented "Fake Media", it was actually Hillary Clinton who said it first attacking Fox News. It was Trump who proved the liberal news stations were fake. HRC fires and misses, Trump fires and a blood bath ensues in the media. I enjoy seeing the clips of the biggest liars in cable news at CNN and MSNBC lose their minds, Trump owns them and lives in their head. 

Oh goodie...another board member who knows more about me than I do! 

We are not talking about me or Biden or Obama or anyone else.

Pally already explained that you bought everything Trump said he would do and he has provided no proof he did it, so let me get back to your point about Truth Social:

Trump didn't invest anything.  He never invested in anything of his money...that's why he has all those loans.  That why he can't get a loan in the US anymore and they got their money from Russia and other countries.

Trump's business plan is to have an idea, convince rubes to invest and then slap his name on it.  He's doing it right now with his legal fees and you and others are donating money to the "billionaire" to help him pay his fines.

He didn't do anything to invent Truth Social.  Someone else, smart people, created the site.  He just told them to do it so he could continue to lie online.

So if you want to talk about any of that go for it.  Give me some proof that Trump invested in Truth Social.  Otherwise just admit you are wrong and that you, like millions of others, have bought into the myth of Trump and not the "Truth".

[GMDino]

(04-02-2024, 11:44 PM)Mike M (the other one) Wrote: ? are you jealous or something? 
And no if that was the average joe, we'd likely be broke after the first bankruptcy.  We have neither the resources, knowledge or access to knowledgeable people that do these things for a living. So odds are already stacked against us.

Filing bankruptcy for a failing business is the best way to protect your personal cash. Trump is far from the only wealthy person that has/will do this. 

Two people saying I'm jealous?  Cool.

No.  See to me, and I have said this consistently, money isn't the end all be all of my existence.  I know I could have worked harder, chosen a different career, done any number of things differently and been "rich".  Instead I chose to work so I could be home every evening, never miss one of my kid's events and spend time with my family on weekends and holidays.

I don't begrudge anyone who works hard and has lots of money if that makes them happy.

As an example Bill Gates is a billionaire.  He worked hard and made his own way.  I'm not jealous of him either.

Trump isn't someone who worked hard for anything.  As I said he has received every break and all his father's money.  It was handed to him.  And does he ever seem happy?  Well, except when everyone is cheering for Trump that is.

Does Trump ever "give back" for all the "good fortune" he has had in his life?  Heck he can't even run a charity anymore because he took money from it.

But for the sake of argument I'll give you a couple examples:

I have a friend who was handed his father's company after college.  His father got it from my friend's grandfather.  My buddy worked for it.  He got the education, he put in the hours and did all the things he needed to do to keep it afloat and to grow it.  

Now, in his 50's and with no children to take it over, he has moved more to allowing the employees to run the day to day stuff while he spends more time with his wife.  He also "found god" at some point and is involved with several groups that preach Christianity.  

He's happy.

I don't hold anything he does against him. Nor am I jealous of him because that is his life.

I've said before my best friend is a doctor.  Came from a dirt poor background.  Worked hard, got a ton of loans, a now has a thriving practice along with other business ventures within the medical field.

He takes multiple vacations every year with his wife and kids and their husbands/boyfriends and some of his extended family.  They've been to Europe and Africa (twice...lol).  They go on every adventure they can while on a trip.  He works a tremendous amount but knows that his family is the important thing so to make up for hours he can't be home he makes sure to give them quality time every chance he can.  

I don't hold anything he does against him. Nor am I jealous of him because that is his life.

I don't make near as much as those two.  I didn't have to work as hard as those two.  And I'm happy.

It's not jealousy because no amount of money or "success" can ever make Trump a good person...a happy person.  And I'd rather be happy than that.

[Luvnit2]

I applaud Obama's from going from middles class to worth 70 million. I applaud Trump for starting a company (no denying he started it due to being kicked off "X' (Twitter at the time) and Facebook. Trump saw a major need and acted on it.

Even better, he made billions in 2 years for starting Truth Social. Why is it a bad thing the Trump brand was able to raise money to start a company?

Trump's brand is worth billions, he built it just as companies like Coke and McDonald's built their brand.

[Mike M (the other one)]

(04-03-2024, 09:06 AM)GMDino Wrote: Two people saying I'm jealous?  Cool.

After all of that, you still seem jealous of guys like Trump that inherited money.

It's ok though. and even if he didn't invest any thing into Truth Social, His NAME is what is driving it and he's investing TIME into it by staying active and posting crap. TIME is MONEY that he could be doing other things with his Time.

[GMDino]

(04-04-2024, 10:49 AM)Mike M (the other one) Wrote: After all of that, you still seem jealous of guys like Trump that inherited money.

It's ok though. and even if he didn't invest any thing into Truth Social, His NAME is what is driving it and he's investing TIME into it by staying active and posting crap. TIME is MONEY that he could be doing other things with his Time.

What people like you don't get though is it is not jealousy.  I don't like Trump because he's a bad person.  I don't like that people like Luvnit post about Trump's success as a businessman when he's done nothing himself.  

It's about how people buy his BS.  And I know, I've been told, it's a waste of time to try and convince people they are wrong or that they have fallen for his latest grift...it's just the way I am.



Losing money hand over fist with a declining user base and very low advertising and he posts that that most of his "7,000.000 followers" will buy hook, line and sinker.

I'm not a member of Truth...but his "truths" are all public.  I'm sure lots of media people follow because it's the easiest way to see the latest lie or rant.

But you're right...he could be golfing.  

[Luvnit2]

The problem Democrats face is their attempt to pant Trump as a "Bad Person" has failed. So, they cry wolf and attempt to take him down over and over again as a "threat to democracy" while intelligent voters see the liberal scam being perpetrated using fake media and our justice department.

The voters remember the Trump economy, they remember his foreign policy and eliminating ISIS, his sanctions on Iran so they would not have the financial resources to use proxy terrorist groups (fund them) to attack and kill our troops in the middle east.

They remember 4 years of Trump yielded 2.5 million illegal encounters at the border while Democrats fought border security in courts and refused to fund a border wall. They see a Biden border invasion of 7.5 million border encounters or a 300% increase in less than 4 years, and additional estimated 3 million in border get aways. They see the added illegal immigrants' major crimes of murder, armed robbery, assault and sexual assaults. They see the deaths from illegal drugs skyrocketing under Biden.

Biden said, watch me. The voters are watching, and they see a weak leader. They see an absent leader. They see Bidenomics causing them financial hard ship.

Democrats do have an ace in the hole, their ability to gather illegal voters to vote in swing states. Will it be enough? Can they steal enough votes to overcome the worst POTUS is our history?  Jill Biden says Joe is a lock to win, we will see in November.

As for this thread, Trump started a company, made billions n 2 years and liberals are losing their minds that their plan to drain Trump's wealth now has ZERO CHANCE OF WORKING, he has overcome all of the legal fees and is worth more today than ever. That upsets Democrats, it is OK for Obama to do well, but not former President Trump.

[BigPapaKain]

Obvious pump and dumb is obvious.

[GMDino]

https://finance.yahoo.com/news/trump-seethes-truth-socials-stock-173630276.html

Quote:Trump Seethes as Truth Social's Stock Price Gets Absolutely Hammered


Victor Tangermann
Fri, Apr 5, 2024, 1:36 PM EDT2 min read

1.3k
In This Article:

• DJT-12.05%
  

Stocker Energy
Former president Donald Trump's meme stock is in freefall.



Shares of Trump Media & Technology Group (TMTG) have slid significantly this week, falling nearly nine percent today alone.


The news comes after Trump reiterated that he'll double down and continue to use Truth Social, a far right social media platform owned by TMTG, despite major losses and a seriously dubious financial outlook.

Shares of the group have been tanking ever since it merged with a blank check acquisition company last month, falling almost 25 percent in the last five days.


At the time of writing, shares are hovering around $42, well below the price at the merge, wiping out billions of dollars in value, including $1 billion of Trump's own net worth.


Trump, as he often does, has responded with seething grievance.


"When I ENDORSE a politician on TRUTH, they almost ALWAYS WIN," he wrote in a rambling and incoherent Truth Social post on 
Thursday. "If it didn’t work, or properly get the word out, I wouldn’t use it — But it does work, and work really well — And the fun is just getting started!!!"


The Conald
Analysts, who've long predicted this outcome, have argued that thanks to a lack of any semblance of revenue growth, TMTG shares are "grossly overvalued."


Last week, news emerged that Truth Social made a measly $4.1 million in revenue for all of 2023, despite having lost more than $58 million over the same period.


Even after the slump, TMTG has a market capitalization of over $5.7 billion, eclipsing the company's revenues.


"I mean, it’s ridiculous," Barry Diller, chairman of holdings company IAC and Expedia, told CNBC on Thursday. "The company has no revenue."


"It’s a scam, just like everything [Trump's] ever been involved in is some sort of con," he added.


Case in point, earlier this week, two Florida brothers pleaded guilty to being involved in a $23 million insider-trading scheme leading up to TMTG's merger.


Democratic lawmakers are also calling for Congress to investigate the merger, citing a Guardian report that alleges TMTG relied on emergency loans, which were provided by a Russian-American businessman — who's currently under criminal investigation.


In short, it's no wonder investors are advised to stay far away from the company.


"It is a new day for Trump Media," Forbes contributor and investment analyst John Tobey wrote, arguing there's "no special future potentiality to speculate on."

"Therefore, if the stock doesn’t jump above $50 on Friday, holding on looks especially risky, and searching for another investment looks especially promising," he added.