The Damage Report
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Trump Supporters Lose BIG After Suspicious Truth Social Stock Con Unravels
Posted
June 22, 2024
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6:55Now PlayingDonald Trump's supporters who invested in Truth Social stock lose massively after brushing off warnings over Trump's legal problems until his conviction, after which the stock plummeted to its lowest share price in months. John Iadarola and Yasmin Kahn break it down on The Damage Report.
Read more here:
Truth Social's investors brushed off Trump warnings and it's cost them fortuneanalysis
"Investors in former President Donald Trump's media company were repeatedly warned that the value of the shares could be adversely impacted by the former president's legal problems — but many did not listen and they're now paying the price, wrote Samuel O'Brient for InvestorPlace.
Trump Media, which runs the former president's Truth Social platform that he uses to make public statements, has plunged to its lowest share price in months, after it had rallied from its previous lows for a few weeks. Even now, the stock price is dramatically overvalued relative to the company's revenue.
"Trump Media, The New York Times points out, issued plenty of warnings about the risks connected with any of the four criminal cases Trump was involved in, including an S1/A filing that stated: 'President Donald J. Trump is the subject of numerous legal proceedings. An adverse outcome in one or more of the ongoing legal proceedings in which President Donald J. Trump is involved could negatively impact' the company as a whole and TMTG’s platform Truth Social," wrote O'Brient."
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