Tag: truth social
Ben Shapiro

Right-Wing Websites Are Seeing Huge Drops In Traffic

The biggest conservative news outlets are seeing a precipitous decline in traffic to their websites, and it's showing no sign of abating despite 2024 being a high-profile election season.

On Wednesday, Daily Beast media reporter Justin Baragona tweeted traffic data compiled by media analyst Howard Polskin's website TheRighting.com, which specializes in tracking conservative media. Polskin assembled a table showing the number of unique visitors (individual internet users who visit a website) a site received in May of 2020 compared to May of 2024, along with a percentage difference in the subsequent column.

Polskin found that high-profile far-right websites like Breitbart, Daily Wire, The Blaze, National Review, Daily Caller and The Federalist all saw sharp drops in unique visitors between the 2020 election cycle and the 2024 cycle. Breitbart — which was led by Steve Bannon before he joined former President Donald Trump's campaign and administration — saw its unique visitors drop from more than five million in 2020 to just over 500,000 last month – a 90 percent drop. The Federalist, which was co-founded by Meghan McCain's husband, Ben Domenech, saw its unique user count plummet from 3.3 million to 166,000, which is a 95 percent decline.

While traffic to other, larger mainstream outlets is also down, the rapid cratering of unique user numbers is mostly concentrated among right-wing media. Baragona pointing out that mainstream media sources have not fared nearly as poorly as their conservative counterparts.

"Even compared to last year, most of the top right-wing media outlets have seen a traffic tailspin. Year over year, the Washington Examiner is down 72 percent, Outkick has dropped 46 percent and The Federalist has lost 79 percent of its audience," Baragona tweeted. "Meanwhile, compared to May 2023, the NYT is up 10 percent"

One culprit of this traffic decline could be due to Facebook adjusting its algorithm – which is the code that dictates what users see in their respective news feeds — in recent years. In April, Polskin noted that traffic for pro-Trump sites was down by roughly 40 percent over the past four years, which lines up with Facebook co-founder and CEO Mark Zuckerberg's announcement of changes to the algorithm. In 2018, Zuckerberg announced the feed would begin prioritizing content from users' friends and family over more overtly political content from pages.

Following the changes to the Facebook algorithm, publishers like Dan Bongino, Franklin Graham, and Daily Wire, which used to frequently top the social media platform's engagement lists, saw significant drops in likes, comments and shares on their content.

"The flow of traffic to Donald Trump’s most loyal digital-media boosters isn’t just slowing, as in the rest of the industry; it’s utterly collapsing," Atlantic contributor Paul Farhi wrote at the time.

However, this problem may not be confined to news outlets. Baragona observed that Trump's Truth Social platform also saw a significant decline in unique users. In May of 2024, Truth Social had just 2.7 million unique users, which is a 14 percent drop compared to May of 2023. This marked the platform's second-worst performing month since its launch.

Reprinted with permission from Alternet.

Truth Social

Truth Social Investors (And Trump) Lose Billions In Post-Conviction Stock Plunge

Investors in Truth Social — former President Donald Trump's social media platform — are losing money fast. And financial markets aren't feeling particularly bullish about the stock price of a company whose majority owner is a convicted felon.

According to the latest data from MarketWatch, the price of Trump Media and Technology Group (trading on the Nasdaq Composite as $DJT) is hovering around $33 per share. This is a significant drop from the $51.84 per-share price $DJT posted on May 30 — the day a 12-person jury in New York convicted the former president on 34 felony counts of falsifying business records.

The share's roughly 40 percent decline in value impacts its principal shareholder more than anyone else. The May 30 share price of $51.84 meant Trump's approximately 114.75 million shares in the company (nearly two-thirds of all total shares) were worth roughly $5.9 billion. But as of June 18, those shares are now worth roughly $3.8 billion — meaning Trump's personal net worth has declined by more than $2.1 billion in less than three weeks.

Trump Media and Technology Group has rebounded in the past from slumps in the markets, however. The stock hit a low point of $22.84 per share in mid-April, when jury selection for the former president's New York criminal trial was underway. It rebounded to $54.39 in early May, though it has yet to recover from its current slide. In the immediate aftermath of Trump's guilty verdict, the share's price plunged by nine percent in after-hours trading, marking a drop in net worth of roughly $500 million in roughly 24 hours.

Last month, the company reported a quarterly loss of more than $300 million. However, Truth Social CEO Devin Nunes — a former Republican congressman from California — attributed the poor financials to the company's merger with Digital World Acquisition Group, and downplayed pessimism from investors as a temporary malaise motivated by politics.

"We have consummated our merger and dispensed with the vast bulk of merger-related expenses, leaving the Company well-capitalized and supported by a legion of retail shareholders who believe in our mission to provide a free-speech beachhead against Big Tech censorship," Nunes stated at the time. He added that Trump Media and Technology Group has "more than $200 million in the bank" and "more than 600,000 retail shareholders who believe in our vision."

In April, The Guardian reported that $DJT was becoming a favorite target of "short sellers," or investors who make money by betting that a company's stock will fail. Nunes accused some short sellers of engaging in the illegal practice of "naked" short selling, in which someone shorting the stock does so without first borrowing the shares or insuring that they can be borrowed.

"[Naked short] perpetrators need to be criminally prosecuted, possibly using federal and state RICO statutes," Nunes said in a statement shared with the website Just The News.

Whether Truth Social is a victim of naked short schemes remains unproven. But short sellers may find a continued reliable stock to bet against in $DJT based on its tenuous financial position. In 2023, a regulatory filing with the Securities and Exchange Commission (SEC) showed that the company had losses of $58 million and revenue of just $4.1 million. That SEC filing also showed that the company needed the funding provided by its merger to stay afloat.

Under the merger agreement, Trump can't sell any of his shares for six months. This means he's powerless to liquidate his rapidly declining stake in the company until at least September. The stock's value may decline even further after Trump is sentenced on July 11. While the 34 charges he was convicted on are class E felonies, which don't require jail time, Judge Juan Merchan has the option to sentence the 45th president of the United States to as much as 20 years behind bars.

Reprinted with permission from Alternet.

Trump Has Promoted QAnon Cult Over 800 Times On Truth Social

Trump Has Promoted QAnon Cult Over 800 Times On Truth Social

Former President Donald Trump has amplified QAnon-promoting accounts over 800 times during his first two years of actively posting on his social media platform Truth Social, according to a Media Matters review.

In our review, we deemed Truth Social accounts “QAnon-promoting accounts” if they explicitly promoted the conspiracy theory by sharing affiliated slogans, posts from QAnon’s central figure “Q,” or imagery related to the conspiracy theory. We counted reposting or quoting a post as amplifying it.

This activity marks a stark increase for the former president, who previously boosted promoters of the conspiracy theory on Twitter (now X) during his presidency. From 2017 until his account was suspended on January 8, 2021, Trump amplified QAnon-promoting accounts on that platform more than 300 times, and he also praised the QAnon community multiple times.

Months after Trump left office, and after the hosts of a QAnon show received press credentials for a Trump rally, Politico reported that associates of Trump would try to “weed out any QAnon influences — both adherents and postings — getting close to him.”

Yet between April 28, 2022 — when Trump began actively posting on Truth Social — and April 28, 2023, Trump amplified QAnon-promoting accounts on Truth Social nearly 500 times. In some cases, he promoted explicit QAnon content.

That trend continued during Trump’s second year of actively posting on the platform: A Media Matters review found that between April 29, 2023, and April 29, 2024, Trump amplified QAnon-promoting accounts nearly 350 times, raising his total to over 800 times overall. Those second-year amplifications also included some explicit QAnon content.

The activity from Trump, who helped create Truth Social following his ban from Twitter after the January 6 insurrection, fits with an analysis from The Washington Post, which found that Trump posts on the platform “29 times a day on average, far more than he tweeted during his first campaign and most of his presidency,” that he is “more likely to write in all caps,” and that his posts frequently “contained insulting language directed at someone.” The Post also found that the former president’s feed “is packed with links to right-wing news sites and conservative influencers,” which differs from his previous Twitter activity of linking “to a mix of mainstream and partisan sources.”

Among Trump’s over 800 amplifications of QAnon-promoting accounts on Truth Social, he specifically:

  • Amplified at least 6 posts from QAnon-promoting accounts that featured text from Q posts. That includes 1 video that also included 9/11 Trutherism, and 1 post that also mentioned the letter “P,” which has been invoked in multiple Q posts in reference to supposedly nefarious figures.
  • Amplified at least 33 posts that featured the letter “Q” in their text or image; the QAnon slogan, “where we go one, we go all” (or “WWG1WGA” for short); the QAnon phrase “nothing can stop what is coming” (or “NCSWIC” for short); or “Q+,” a term some QAnon supporters use to refer to Trump himself. Twenty of these came during his first year of actively posting on the platform, and 13 in the second.
  • Amplified more than 170 individual QAnon-promoting accounts.
  • Amplified 1 post from a QAnon-promoting account which linked to a Rumble video that showed a Q post, with Trump calling it an “incredible video!”
  • Amplified 2 posts from QAnon-promoting accounts featuring a video that included the QAnon slogan.
  • Amplified 1 post from a QAnon-promoting account with the phrase “Do it, Q!” Some QAnon supporters claim that a photo from a Trump tweet had that phrase in its source code.
  • Amplified 1 post from a QAnon-promoting account that was originally posted in a Truth Social group dedicated to the conspiracy theory.
  • Amplified 2 posts from an account named after the QAnon slogan. He has also amplified 4 posts from an account whose handle is the QAnon slogan.
  • Amplified “Patri0tsareinContr0l,” who has pushed the QAnon conspiracy theory and has been a member of a known QAnon influencer collective.

This activity comes as Truth Social’s leadership has actively courted QAnon supporters to the platform, and the former president and his allies have associated with and appealed to the QAnon community in other ways. For instance, former Trump administration official and Truth Social board member Kash Patel said that “we try to incorporate” QAnon “into our overall messaging scheme to capture audiences.” The former president has also been photographed with multiple QAnon figures, and his campaign has given QAnon figures press passes for his events, while denying some mainstream journalists. Trump has also used a song associated with QAnon on social media and at his rallies.

Reprinted with permission from Media Matters.

Truth Social

Trump Media Has Lost Over $300M So Far In 2024

Trump Media & Technology Group, which runs Donald Trump’s Truth Social platform, has filed its first quarter revenue numbers to the Securities and Exchange Commission. The good news for MAGA-loving stockholders is that the company, of which Trump owns a reported 64.9 percent of the outstanding shares, pulled in a cool $770,500. Now get your sad horn sound ready: It also reported a net loss of $327.6 million.

In a statement, the company’s CEO, former House member and Republican attack dog Devin Nunes, said the losses were due to costs in finalizing a merger with shell company Digital World Acquisition Corp. Nunes, best known for suing parody Twitter accounts, said Trump Media would now be exploring and pursuing “a wide array of initiatives and innovations to build out the Truth Social platform including potential mergers and acquisitions activities.”

Since going public in March, Truth Media’s inflated valuation led to the stock’s value plunging shortly after an initial rise. The first quarter filing comes just one month after the company’s stock plummeted for a second time after the company announced it was considering adding more than 15 percent more stock to the publicly available shares, devaluing current stockholders’ shares.

The stock ended the trading day only five percent down after the quarterly report was released, NBC reports. However, this seems to go along with what experts have characterized as Trump Media’s “meme stock trajectory.”

Meme stocks show dramatic gains and losses due to their stock value being directly connected to internet popularity on various social media platforms. The inherent issue with these stocks is that they are usually untethered from any material evaluation of the company being traded.

This frequently leads to pump-and-dump activity on stocks like Trump Media, with buyers inflating the value over short periods of time by creating social media buzz and then quickly dumping the stock for a profit.

When Truth Social first launched in early 2022, the site quickly went down with technical issues, potential copyright issues, and executives jumping ship. Even though the net losses this year amount to almost one-third of a billion dollars, the company “believes it has sufficient working capital to fund operations for the foreseeable future.”

Or until Trump dumps his shares for some quick cash.

Reprinted with permission from Daily Kos.

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