Trump's coming stock bust
Trump Media's Stock Is Almost Certain To Crash
The Lede
Donald Trump's newly public social-media company is not the next Nvidia โ or Meta or google or whatever has happened with X/Twitter. If you want to know how Trump Media will do, look at the right-wing SPACs that came before it.
Key Details
- The share price of Trump Media and Technology Group, trading under the stock ticker DJT, surged following the completion of its SPAC merger last week.
- Trump's company says it has bigger plans ahead, such as growing Truth Social. What exactly this might look like, or how many people would flock to it, isn't clear.
- Trump's media company isn't the first conservative outfit to go public via SPAC in recent years and try to make money off of right-leaning consumers and investors.