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.
- Based on Trump's roughly 58% stake in the company (80M shares), his personal share value rose to almost $4B before the stock launch and even higher later Tuesday.
Sources Split
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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.
Metaculus Prediction
Public Figures
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