Trump, the majority shareholder of the company, saw his net worth fall nearly 4%—or $163 million—to $3.9 billion on Tuesday, making him the 851st wealthiest person as of 4:30 p.m. EDT. Trump Media and Technology Group, which uses the ticker DJT, closed at $18.08 on Tuesday, marking a 68.82% fall from when the company debuted on the Nasdaq exchange in late March after merging with a special-purpose acquisition company. Tuesday’s price surpassed Friday’s previous record low ($19.50) since DJT began trading as its own entity. Trump Media wasn’t alone in struggling Tuesday: All three U.S. stock indexes saw their worst day since Aug. 5 and other social media companies suffered, too, with Reddit falling 4% and Snap falling 5% – Forbes
I praised him when in the process of responding after being de-platformed across many social media ecosystems, he made $billions and created millionaires in the process, via Truth Social. But that was before a tough election battle, against a totally emergent opponent, who came from the flanks, catching him unprepared. The Trump universe was built to defeat Biden, but Kamala is the opponent today!
So between those $billions and winning in November the US Presidency, Trump has made a call: anything it will take to return to White House, the benjamins can wait. Yes, Trump returned to X (Twitter), rattling his media company investors. And they have responded, and the numbers do not look great: “Trump Media, the parent company of Truth Social and a significant holding for former President Donald Trump, has seen its share price decline, marking a notable low since it began public trading.”
Why did Trump make this call? Twitter is the political village square for all nations. No other platform comes close, and not being there is costing him votes. While Truth Social is there, you do not win elections by speaking only to your “tribe”; you find ways to reach across the aisles. Trump is hoping that by coming to Twitter, he could energize the political citizens there.
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Remember: in politics, it is the permanent interest that matters. The stock value can wait as there is an election that has to be won. Good People, it is what it is. Of course, if he wins, Elon Musk can acquire Truth Social, saving the investors.
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