The stock price for the Trump Media & Technology Group has bottomed out this week, hitting lows that we haven't seen before. The stock has now lost nearly half of its original value, marking the largest decrease in value since it was initially offered. Because of the drop, Donald Trump himself has lost hundreds of millions of dollars from his net worth this week alone, and it doesn't look like things will be getting better any time soon. Ring of Fire's Farron Cousins explains why this is happening.
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.
This has been one of the worst weeks that Truth Social has ever seen. And of course, by truth social, I really mean the Trump media and technology group. But considering the fact that that fancy name only has truth social, that's operational, they're basically interchangeable. And what's happened this week is that the stock price for the Trump Media group has officially bottomed out, hit a low that it has not ever seen before, and it has wiped out hundreds of millions of dollars of Donald Trump's net worth in just the last three days. The stock has now fallen by nearly 50% of its initially public value. That is absolutely remarkable to happen in just two short months, right? That's insane. Like that doesn't ever happen. But this company is so messed up, is so just hemorrhaging money so badly. And of course, the guy with the majority of the shares, 65% of the shares, Donald, uh, shares Donald Trump, uh, is a convicted felon.
All of that combined is what is tanking this company right now, specifically, a lot of investors are kind of worried about the fact that yeah, Donald Trump now has felony convictions. He could end up in prison and if he does go to prison, even though the chances of that are slim to none, but if he does, 'cause it is a possibility still they're probably not gonna let him use truth social. And if Trump's not on Truth Social, then it has no value at all. And of course, as I mentioned, they're also looking at the financial reports that show that it's losing tens of millions of dollars per month while raking in only a few hundred thousand dollars per month. So it is hemorrhaging money. Not to mention the fact, of course, that the company that they had as their auditors recently got shut down by the feds because it was such a just horribly incorrect, invalid, bad advice company that they couldn't be trusted anymore.
So they don't exist anymore. They then True Social did had to go out and find a new auditor that filed new financial reports, that showed that the company's financial situations actually much worse than even the other guys had said. So yeah, combine all of that together and it is a recipe for fricking disaster. And that's what investors are left with. That's why people are just getting rid of this stock as quickly as they can. And anytime that happens, it's gonna drive the price way down. And every time that price goes down, Donald Trump loses money off his net worth. And I say net worth, not that he's losing money, but losing money
Off his net worth. Because technically right now, all Donald Trump has are shares of the company. He doesn't have actual cash with it. So stock price goes up, his value goes up, stock price goes down, his value goes down. He's not losing anything that he currently has other than potential value in the future. But he still has many months to go before he is even allowed to sell any of the stock. And based on the way things are going now, it may be less than worthless by the time he can finally offload any of it.
