Trump Panics As Truth Social Stock Nears Rock Bottom

On Friday, shares of Trump Media and Technology Group hit a new low of less than $30 per share. This comes after the company had hit a high of $79 per share the week it was first released. The company has now lost more than 60% of its value in just three weeks, and Trump is absolutely panicking over this loss. He sent out a frantic post on Friday begging people to support Truth Social, but even the investors are starting to realize they've been hoodwinked. Ring of Fire's Farron Cousins explains what's happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

At its highest point, Trump Media and technology was trading in its first week at $79 per share, $79 per share this past Friday. For the first time, it dipped below $30 per share, made a slight rebound. So it's hovering around $30 per share. Now, you can do the quick math in your head, right? 79 highest, 30 the lowest, uh, that's more than half. So the company, in terms of their stock price, has lost more than half its value. In fact, I think it's lost 64% of its value. And of course, investors are freaking out, but nobody is freaking out more than Donald Trump on Friday, as his stock was in a complete free fall. Donald Trump got on Truth social and said this, if people who believe in putting America first and wanna make America great again, support truth, we will be your voice like never before. And a real voice is what our country needs because we are in decline.

Now, I think when Trump says we are in decline, he's talking about the country, but you could also just take that as him talking about his stock prices, right? Like we're in decline. Folks, I really need you to support truth social, because I have lost half of the value that I had in this company. Let's not forget Donald Trump was poised to make at the starting price, $4 billion off this, he is now slated to bring in less than $2 billion, and that's fallen in three weeks, folks, okay? We're not talking about over the span of a year. We're not even talking about over the span of a month. In three weeks, Donald Trump has lost billions of dollars because investors and everybody else sees that there is no value at all in truth social. But before Donald Trump even put out that panic post saying we're in decline, he shared an article from a right wing author, Substack author by the name of, uh, Paul Ingrassia, and in the article that Trump shared on Truth Social, Mr. Ingrassia says this, the Trump brand should be worth tens of billions of dollars more than what it is currently being traded at on the Nasdaq, given its uniqueness as combining the best of politics and business in the same vein in which Da Vinci's paintings and Michelangelo's sculptures would be valued in the billions if ever sold on the open market today, Donald Trump's creative visions equate to exceptional valuations because of the rarity of his skill sets and gifts.

I don't even need to debunk that because that's just crazy talk. Like that's crazy. I don't know if Mr. Gracia is just trying to curry favor with Donald Trump, or if he genuinely believes these things. If he's just trying to curry favor, I can actually forgive that. But if you genuinely believe these things, it's time for somebody to do a wellness check on you because that's not a normal way of thinking.

And then he goes even further. No matter how otherwise communistic, our institutions may become fortune, nature, and God invariably favors the bold original thinkers, especially in our age, that suffers a pandemic of unoriginality and laziness are, are you literally trying to say that truth social is, is original, like we need more unique things like truth social, that is just a complete ripoff of Twitter? Like what?