Shares of former President Donald J. Trump’s social media company have fallen so much that his onetime $6 billion stake is now worth about $2 billion.
The stock price of Trump Media & Technology Group, closed Wednesday at $16.98, and is down more than 74 percent from the high-water mark it hit after Trump Media’s merger in March with a publicly traded shell company.
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The slide in the share price has accelerated over the past few weeks as the presidential campaign has heated up and Vice President Kamala Harris, the Democratic nominee, has narrowly overtaken Mr. Trump in most national polls. Shares of Trump Media often have risen and fallen in tandem with investor perception of how Mr. Trump is doing in the presidential race.
And yet it has a market cap of 3.3 billion. With his financial figures being so bad, Apple should be valued at 500 times the total amount of Earth’s GDP
In 2024 Q1 Trump Media reported less than $800K in revenue and over $325M in costs. Their total revenue (not profit - just the total amount of money paid to them) covers about one fifth of one percent of their cost.
It’s like having rent at $2,000/month while my job pays $4.69 per month.