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Trump Media stock down over 50 percent since his inauguration and no one is buying: report

The article from Raw Story discusses the significant decline in the stock value of Trump Media & Technology Group, the parent company of Truth Social, which has dropped by 50% since its peak in late March. Initially, the stock surged due to enthusiasm from Trump supporters, but it has since plummeted, reflecting a broader trend of meme stocks losing value. The article highlights that the company's valuation, once at $8 billion, now stands at about $3 billion, with the stock price falling from $66 to around $32. This decline is attributed to the company's failure to generate significant revenue, reporting only $4.1 million in the first nine months of 2023, and ongoing losses. The article also notes that the stock's volatility is influenced by Trump's political fortunes and the general market dynamics affecting meme stocks.

Read the Full The Raw Story Article at:
[ https://www.rawstory.com/truth-social-stock-2671337936/ ]