President Donald Trump observers New York Stock Exchange trading floor
On Wednesday, President Donald Trump’s DJT stock symbol plummeted to its lowest point ever, plunging to $7.53 per share as of this writing. According to Futurism, the stock — which represents Trump’s Truth Social social media platform — has been “circling the drain for over a year now.”
The DJT stock made its public debut in 2022 for just under $10 per share, and it was rapidly hyped up to its all-time high of just under $94.20 before dropping back into the low teens. Then in early 2024, it was relaunched after a merger, briefly shooting up to around $60. Since then it has lost nearly 90 percent of its value, and the decline shows no sign of slowing.
According to Futurism, the DJT symbol is “part of Trump’s efforts to build out his ailing conservative social media network and personal megaphone, Truth Social. However, desperate stabs at reinvention, from attempts to break into the prediction and cryptocurrency markets to a bizarre and unexpected merger with a fusion power company called TAE Technologies late last year, have done little to instill confidence.”
Futurism suggests that confusion surrounding the company’s future is likely hurting its stock, explaining, “Earlier this month, TMTG announced it was abandoning plans to spin off Truth Social into a separate publicly listed company, with the help of a special purpose acquisition company called Texas Ventures Acquisition III, without ever elaborating why. Instead, the company reaffirmed plans to merge with TAE, cementing its efforts to break into the fusion energy industry — unproven tech that has nothing to do with a far-right microblogging platform.”
The company’s numbers have also undoubtedly scared off potential investors. As Futurism notes, "Beyond the chaos and a continuously revolving door of executives, TMTG has been burning through cash at an alarming rate. Last month, the company posted a stunning net loss of more than $400 million in the first quarter of this year alone — while netting less than $1 million. That’s in large part due to its steep investments in cryptocurrencies, tying the value of its operations to speculative assets that have also been plummeting this year.”
As Futurism reports, the failure of DJT comes amid accusations of wide-ranging insider trading and similar grift within the administration, including allegations that Trump himself has been buying stock then publicly praising the companies to drive up their prices. And the DJT stock has not been spared from suggestions of illegal activity.
In June 2024, Bloomberg reported that the Securities and Exchange Commission was hit by a wave of complaints from analysts warning of shady behavior regarding DJT. As one complaint asserted, “The Market Makers in DJT are manipulating the OPTIONS prices. I am a leading expert in OPTION FRAUD and a former member of the CBOE, CBOT and CME [referring to leading exchanges]. I know what is going on.”
Reprinted with permission from Alternet
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