Truth Social investors hoped to get 'very rich' after Trump's win. Not quite.

[mahatmakanejeeves]

Truth Social investors hoped to get ‘very rich’ after Trump’s win. Not quite.
Trump Media & Technology Group’s revenue and share price have sagged as its losses have piled up. The president-elect’s return to the White House could complicate things even more.

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Donald Trump speaks at a campaign rally in Pennsylvania on Nov. 3. (Jabin Botsford/The Washington Post)

By Drew Harwell
November 19, 2024 at 10:05 a.m. EST

John Viaud, a retiree in South Carolina, knew he was taking a big risk when he poured his pension money into the stock of his political icon’s social media company, Donald Trump’s Trump Media & Technology Group. ... As its share price sank in the months before the election, he took to the company’s Truth Social platform to write, “This is getting depressing! I’ve lost $600,000. … C’mon Trump!”

But Viaud was hopeful a Trump electoral win would rocket the stock into the stratosphere, posting, “Come November all of us are going to be very rich!!!”

In the days since the election, however, the stock has fallen, losing nearly half its value since last month’s peak. And on a Truth Social investor board, users who had been predicting a post-vote surge began voicing their agitation. “The fact is we are in trouble,” one wrote.

As its top shareholder prepares for the White House, Trump Media is facing what some financial experts are calling an identity crisis that has undermined its worth.

{snip}

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By Drew Harwell
Drew Harwell is a reporter for The Washington Post covering technology. He was a member of an international reporting team that won a George Polk Award in 2021.follow on X drewharwell

[Auggie]

1. Oh, boo-hoo ...

[louis-t]

2. If you have been following along (I have)

you'll notice a drop after the election and several attempts to pump the stock. They are selling air. Trading has been shut down a few times due to volatility. The company is worth 0. $60 million in losses in 2 years? The day traders are fooling with it.

[Arne]

3. That reflexion picture is incredible.

It looks like everyone behind him has a gun and they all
lost money.

[OLDMDDEM]

4. You are what you vote. This stock price falling was bound to happen. After all, it's Trump. Everything he touches

dies.

[UniqueUserName]

7. ETTD ---is not the flex people think it is.

Trump has "touched" USA. I certainly hope a democratic USA is not dead.

But sadly, it may be.

I don't mean to be picking on you. I just don't understand when someone says this what they think the fate of the US will be.

[OLDMDDEM]

8. Trump has touched the USA during his first term. His excuses and lying brought the country to a halt with the

help of Covid. Biden turned things around and the economy is the envy of the world. Rick Wilson penned a book titled Everything Trump Touches Dies. That is where I got the words for what I first wrote. We need to be careful going forward as he will take this country down with him and his incompetent team of sycophants.

[tanyev]

5. Good gawd in butter there's a lot of gullible people out there.

[Hugin]

6. The trading after the bell on DJT...

Late yesterday was crazy. Large volumes and swings. It went from ~$26.50/share to ~$32.75/share. I guess banging the market is the new norm.

This morning with light trading it’s down ~8.5% @ $29.00.

[Old Crank]

9. His media company was under cut by the biggies

Facebook and X have a much greater reach. Who want to go to branded one when he is on the main two?

Virtually no income and huge losses make for a bad investment.