Truth Social stock scheme is another Trump con - The Washington Post
Washington PostMar 25
Truth Social Stock Starts Trading
The Facts
Former Pres. Donald Trump's Social Media company Truth Social hit the stock market Tuesday under the ticker symbol DJT, with shares jumping as high as 59% and closing 16% higher than their initial price on its first day of trading.
Despite the company suffering $10.6M in operating losses through the first nine months of last year, Tuesday's stock surge put shares at a high of $79.38 before closing at $57.99 — launching its market capitalization toward $8B.
The Spin
Anti-Trump narrative
Those who bought this meme stock — whether they're real investors or just Trump supporters — and ignored Trump's history of using his failed businesses as a tool to cash out at the expense of his supporters and pay off his legal bills are in for a surprise. DJT shares will plummet once this nefarious scheme is over.
Pro-Trump narrative
The former president has pulled off a brilliant last-minute victory in the face of the unrelenting ire of New York's corrupt legal system. While he still faces many other uphill legal battles — as well as a closing deadline to actually pay off his civil trial bond — this news is certainly a cause for celebration for Trump and his campaign.
Nerd narrative
There's a 50% chance that Trump's net worth will be at least $2.42B in 2024, according to the Metaculus prediction community.