Trump's coming stock bust
Trump Media's Stock Is Almost Certain To Crash
Trump's media company, which runs Truth Social, is flying high after starting trading. There are plenty of reasons to believe it won't stay up there.
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The Lede
Donald Trump's newly public social-media company is not the next Nvidia — 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.