Donald Trump’s tiny social media empire revealed another heavy loss and a fall in sales in a surprise stock market filing as the first polls closed the night of the presidential election.
Truth Social, the company’s fledgling social network, remains minuscule in comparison to the likes of Meta’s Facebook or Instagram; TikTok; and Elon Musk’s X, formerly Twitter. TMTG’s wider business is still losing money, too. The firm’s meager financial returns have not prevented it from building an eye-watering $6.8bn valuation since its market debut earlier this year – leaving Trump’s majority stake worth almost $3.9bn on paper.apparent swing towards Trump in the betting markets
TMTG’s turbulent market rise has propelled it into the ranks of so-called “meme stocks”, such as the video games retailer, which have rattled Wall Street in recent years by staging unexpected, volatile rallies as day traders piled in.
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Source: FinancialReview - 🏆 2. / 90 Read more »