Connect with us

Uncategorized

Trump’s Truth Media Stocks Plunge, Falling More Than 50%

Avatar

Published

on

Trump Media's accountant is accused of massive fraud

Trump’s Truth Media shares are now down more than 50% and continue to fall since he was convicted of 34 crimes.

Trump’s stock has fallen since his felony conviction“Shares in Donald Trump’s media company have fallen by nearly 40 percent since the former president’s hush-money conviction last month. Trump Media & Technology Group’s stock price, which has been on something of a rollercoaster ride since trading began earlier this year, closed Monday at $34.64 per share. This is a big drop from $51.84 on May 30, when Trump was found guilty of 34 counts of falsifying corporate records in connection with a hush money payment allegedly made to adult film actor Stormy Daniels ahead of the presidential election of 2016.”

As bad as things have been for the stock, the decline has gotten worse as of publication time today. So far, Shares of Trump Media are down another 12% to nearly $30 per share

Trump and company CEO Devin Nunes have blamed short sellers for the stock’s decline, but this isn’t the first plunge for Truth Media. Investors fled the stock after it emerged that the company was losing hundreds of millions of dollars and had essentially no revenue.

Trump’s political supporters bought the stock as a way to “own the libs” and support the ex-president. However, those who bought the stock at its peak have already lost more than half of their investment, and the stock price shows no sign of consistency in the near future.

It’s important to remember that Truth Media is a company without an actual product. The company is not producing anything or generating much revenue at the moment. Truth Medeia seems like a mechanism for Donald Trump to cash in on his supporters.

Like many things related to Trump, the stock is an illusion. It is based on a myth and relies on Donald Trump’s supporters to pay because his name is on it.

Trump has found a new way to fool his fans, and it seems only a matter of timeangry investor complaints to the SEC result in legal action and lawsuits.