Dem
47
GOP
53
As you may remember, the company that owns Truth Social went public in a peculiar way, by merging with a strange existing company that was just a bag of money. The company is listed on the NYSE as DJT. Its only actual asset is Truth Social. Here is how the stock has done over the past 5 years:
The high point was on Feb 28, 2022 at $97.54. It closed yesterday at $9.54. According to the staff mathematician, this means the stock has lost 90.2% of its value since early 2022. Any investor who put, say, $10,000 in DJT stock at the high now has stock worth $980. Since Nov. 2024, the capitalized value of the stock has lost $6 billion. We don't know how much stock Donald Trump still has. In any event, he got his for free, so he hasn't taken a loss, maybe just not so much profit if he hasn't sold any of it.
Trump celebrated the milestone of the stock losing over 90% of its value by
firing
the CEO he appointed to run the company, former congressman Devin Nunes. The firing may be related to a net operating
loss of $712 million in 2025. It is not easy for a company to lose $712 million in a year, but Nunes pulled it off. The
company is also changing what it does. Instead of merely owning and running Truth Social, which is basically worthless,
it has bought a lot of bitcoin and is becoming a crypto company. It might even spin off Truth Social altogether and
forget being a media company and just be a crypto company. The rubes investors who bought the stock thinking they
would get rich off Trump's coattails may or may not be happy with this change. If they are not, they are free to dump
their shares and take their (deserved) loss. (V)