Trump's Truth Social Stock Makes a Splashy Debut

An aide carries a lectern that reads “Anytime. Anywhere. Anyplace.” in front of a large screen that displays a message former President Donald Trump has posted to Truth Social that challenges U.S. President Joe Biden to debate him, during a rally outside the Schnecksville Fire Hall on April 13, 2024, in Schnecksville, Pennsylvania. P.T. Barnum may or may not have said, “There’s a sucker born every minute.” He gets the credit in the popular mind.

The latest example: The stock of Trump Media & Technology Corp., owner of the social media platform Truth Social, on which Trump routinely posts his “thoughts” of the day. Call letters: DJT. It didn’t take long for market realities to break through what remains of the Trump mystique; the stock within days began plunging relentlessly. It’s now lost more than two-thirds of its value from its $70.90 opening. This week has been particularly rough, with the stock falling 30% as of midday Tuesday.

But the signal sent wasn’t a positive one to those who think investing alongside Trump is the path to riches. For a man who has strived over his decadeslong career to cultivate an image of a brilliant and incredibly wealthy businessman, recent events have helped to puncture a myth that already had taken a beating during Trump’s presidency.

Trump Truth Social Stock Debut SPAC Transaction

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