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Earlier this year, president Donald Trump was caught executing thousands of stock trades — only to directly inflate their values by publicly praising them or lowering regulatory hurdles they face.
Ironically, the same grift is struggling at his own enterprise. Trump Media & Technology Group (TMTG), a company being publicly traded under the president’s initials, DJT, is doing horribly. Shares have slid to record new lows of well under $8 this week, a vast and prolonged fall from the almost $80 it was trading at around the time of his reelection in late 2024.
At its nadir, it hit $7.61 — its previous all-time bottom was $7.76 — and it’s still trending down.
Shares have been steadily declining for the last two years, with enthusiasm for the dubious tech venture circling the drain for a while now. The stock is down over 41 percent year to date, and over 57 percent since this time last year.
The company went public in 2022 as part of Trump’s efforts to build out his ailing conservative social media network and personal megaphone, Truth Social. However, desperate stabs at reinvention, from attempts to break into the prediction and cryptocurrency markets to a bizarre and unexpected merger with a fusion power company called TAE Technologies late last year, have done little to instill confidence.
Earlier this month, TMTG announced it was abandoning plans to spin off Truth Social into a separate publicly listed company, with the help of a special purpose acquisition company called Texas Ventures Acquisition III, without ever elaborating why.
Instead, the company reaffirmed plans to merge with TAE, cementing its efforts to break into the fusion energy industry — unproven tech that has nothing to do with a far-right microblogging platform.
Beyond the chaos and a continuously revolving door of executives, TMTG has been burning through cash at an alarming rate. Last month, the company posted a stunning net loss of more than $400 million in the first quarter of this year alone — while netting less than $1 million.
That’s in large part due to its steep investments in cryptocurrencies, tying the value of its operations to speculative assets that have also been plummeting this year.
More on Trump and Truth Social: Trump’s Disastrous Truth Social Company Hits Rock Bottom With Lowest Stock Price Ever
