A new filing from Donald Trump's social media company, Truth Social, shows the company is 'bleeding money,' according to one progressive journalist.Posting on X, formerly Twitter, Talking Points Memo founder Josh Marshall reacted to the latest Securities and Exchange Commission disclosure from Trump Media & Technology Group Corporation , which runs Truth Social as its main asset.The SEC filing showed the company, which Trump holds a nearly 60 percent stake in, made just over $4.
The strong performance gave the company an $11 billion valuation. But following the SEC filing, shares fell by more than 20 percent on Monday, causing the former president's net worth to shrink by $1 billion, according to Bloomberg.Speaking to Newsweek, Todd Landman, professor of political science in the School of Politics and International Relations at the U.K.'s University of Nottingham, said that Truth Social needs to gain more users to become successful.
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