The Internet Brutally Trolls Donald Trump Over Plummeting Value of Trump Media Stocks

Just days after a high-profile debut on the stock market, Donald Trump's social media venture revealed a significant loss of nearly $58.2 million for the previous year. This disclosure led to a whopping 21% drop in its stock value, as reported by The Guardian. The financial downturn of 2023 for Trump Media & Technology Group (the company behind Truth Social) was a stark contrast to the $50.5 million profit it reported in 2022. Although Trump Media's shares surged initially, they have since fallen closer to their original offering price.

This prompted netizens to poke fun at his venture. One X user wrote, "Donald Trump's media stock is doing so bad that Lara Trump is about to cover Free Falling." Another X user shared a screenshot and wrote, "Shocked-- shocked!--that the stock for Trump's worthless social media platform is trending toward worthless." A third user wrote, "Donald Trump: The stock plummet may be the best April Fools joke I've ever had played on me. Trump Media: No, it's real."

Chiming in, another user added, "Dear MAGA I hope you did not go out and buy Trump Media stock thinking somehow you will get rich. After today’s announcement of operating losses expect the stock to plummet. Wait it’s down 25% today. Oh well, what Trump touches dies a slow death. Get out while you can." A fifth user added, "Shareholders of Digital World Acquisition watching the Trump Media stock plummet after planning a merger for years," while another added, "Maga buying  and losing money over an overvalued stock, donating to a 'billionaire', and buying useless blue checkmarks…then complain about the cost of living."

Piling on to this, someone on X said, "That's pretty funny. I had a great morning drinking coffee and watching that stock fall like a stone," while another asserted, "Obviously. It's a worthless company.  Don is legit the greatest con man of all time though."

In a move detailed by ABC News, Trump Media entered the Nasdaq stock market under the ticker symbol DJT on March 26 after merging with Digital World Acquisition Corp., a blank-check company. Since then, the company's stock has experienced significant volatility. Following Monday's sell-off, the stock closed at $48.66, resulting in substantial losses for many early investors.

Industry analysts have drawn parallels between the excitement surrounding Trump Media, based in Florida, and the meme stock phenomenon of 2021. This comparison is about the frenzy that propelled the shares of struggling companies like GameStop and AMC Entertainment to extraordinary levels. Trump's social media platform was viewed as a potential financial savior for the Republican presidential nominee, who is facing a barrage of legal and financial challenges. Apart from his four criminal cases, Trump has also been charged with a civil fraud penalty.