the real truth

Mary Trump just called B.S. on her crazy uncle’s latest stock market scam

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Donald Trump

Donald Trump‘s latest effort to line his pockets is imploding before it can truly start.

The quadruple-indicted, twice-impeached, one-term, ex-president’s social media company debuted last week on the Nasdaq, and immediately saw its valuation soar to $6 billion. But as it turns out, the splash was short-lived. As of Monday, the stock price for Trump Media & Technology Group had fallen by $4 billion. Yikes!

Trump has personally lost about $2.5 billion over the last seven days.

Previously traded under a shell company, Truth Social is far from a success in the social media space. The website generated just $4.1 million in revenue last year, including a paltry $750,000 in the fourth quarter.

Contrastingly, Trump Media recorded a $58 million loss in 2023.

Trump may not be an actual businessman, but even he can probably figure out those numbers.

They’re not good!

“There are literally supermarkets–and I don’t mean chains–the average individual supermarket has greater revenue than Truth Social does. You wouldn’t value that in the billions of dollars, the corner supermarket,” said CNN analyst Jonah Goldberg.

But yet, Trump Media, which received $300 million in cash as part of the merger with the shell company, is still more valuable than billion-dollar conglomerates such as Bausch & Lomb, Alcoa Corp. and Harley-Davidson.

That’s because Trump Media is the market’s most-shorted stock, says the New York Times. Investors are speculating on the stock’s decline, and planning to profit from the company’s seemingly inevitable drop in price.

In other words, Truth Social’s inflated value is about as real as the value of Trump’s real estate holdings.

“It is not uncommon for so-called meme stocks, which are heavily influenced by momentum and the enthusiasm of masses of small shareholders, to be extremely volatile, prone to sudden and steep increases and declines,” explains the NYT.

With Trump Media looking like this year’s version of GameStop, the presumptive Republican presidential nominee likely won’t be able to reap the benefits of its sudden price jump. He and other company execs are subject to a so-called “lock-up” provision that prohibits them from selling the stock for six months.

Though Trump posted a $175 million bond in his civil fraud case against New York (a sizable reduction from the original total of $464 million), he’s still desperately in need of cash. He has four criminal cases pending, including the one in Manhattan over alleged hush money payments to Stormy Daniels. A judge ordered that trial to start April 15, despite Trump’s repeated requests for a delay.

But without being able to spin off stock from his fake media company, Trump must search for cash elsewhere. Anyone want to buy a $60 bible? How about a pair of $399 gold sneakers?

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As president, Trump was able to wield his power for profit, with foreign leaders and diplomats staying at his properties in overt attempts to influence him. His DC hotel, which lost more than $70 million during his presidency, received millions in loans and payments from foreign governments.

He could be looking to replicate that model with Truth Social. His niece Mary laid out the case (per usual).

“Truth Social could be a front for a campaign finance scam,” she wrote.

With direct donations to political candidates subjected to FEC laws, supporters and foreign governments now have a more clandestine way to support him, without limitations.

“This is a cause for concern,” she adds.

Still, Truth Social’s plummeting stock price does offer some positive news.

“Without a solid financial foundation, the company’s ability to operate, let alone pose a threat, is significantly compromised,” she said. “One thing is certain: our eyes are open. And we’re watching.”

Legal experts agree.

“This will be a very easy vehicle for foreign governments that want to curry favor with the president to throw money at him in a way that benefits his financial bottom line,” Jack Goldsmith, a Harvard law professor and veteran of George W. Bush’s administration, told the NYT.

But as Truth Social becomes less valuable each day, Trump’s scheme becomes a little more difficult to obtain. Our stock-shorting kings are on the case.

Related:

“It is her decision”: It really doesn’t sound like Melania will be campaigning for her husband this time around

The 2024 presidential election is just a few months away and Melania Trump has yet to take an active part–or any part, for that matter–in her husband’s campaign.

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