Investors ABANDON Trump As Truth Social Stock Hits Rock Bottom

Shared of the Trump Media and Technology Group, which owns Truth Social, have plummeted more than 40% this month, and this week has seen the stock dip below $20 per share for the first time. Trump is just days away from being able to start selling his shares, but it may be moot at this point as other investors are already dumping the stock in droves, causing the price to tank even further. 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.

The rats are jumping off the sinking ship. And believe it or not, I'm not talking about the sinking ship that is Donald Trump's campaign. Oh, I'm sure those rats are packing their bags and they're about to jump overboard, but they just haven't done it yet. What I'm talking about is another aspect of Donald Trump's life that is also going down the tubes. And that of course is the Trump media and technology group that owns truth social for the entire month of August. Truth social stock, which is easier to say than Trump media and technology every time. So we'll call it truth, social stock. It has lost more than 40% of its value. And this past week we saw it bottom out at less than $20 per share. So the insiders, the people that actually run the company are the rats that are jumping off the ship.

According to a report from CNN quote, some Trump insiders are already selling, perhaps contributing to the recent sell off in the share price. For instance, Philip Han Trump Media's Chief Financial Officer and treasurer, recently disclosed selling 1.9 million worth of stock. Trump Media's general counsel, Scott gla, chief Operating Officer, Andrew Northwell, and Chief Technology Officer Vladimir Novacki, made smaller sales last week too. Even Devin Nunes, the former former Republican congressman who now serves as Trump Media's, CEO and President, dumped $632,000 worth of stock last week. According to a professor, uh, of business law at Cornell Law School, quote, you don't see sizable shareholders like President Trump selling a lot of stock because it drives the price down from the market's perspective. It may look like rats jumping off a sinking ship. And that, of course is exactly what's happening. The rats are abandoning the ship truth.

Social is going down, user engagement on truth. Social is down. Revenues are virtually non-existent when compared to expenses. For the second quarter of this year, truth, social Trump media technology brought in $836,900 in revenue. They had millions and millions of dollars in expenses. So this is a company that has not been operating with any kind of positive income literally ever. And the only draw it has is that hey, the guy that owns most of the stock, Donald Trump, who for the record, can't sell till September 25th. Uh, he could be the next president and as his chances of becoming the president again, continue to dwindle so too does the value of truth social? Because if Trump doesn't win the election, not only does that kill the only draw of two truth social, but he could technically, although it's a long shot, but he still could

End up in prison, at which point the entire company becomes a worthless entity. Even more worthless than it technically is now. But you get what I mean. Everything in Trump's life hinges on him winning this year's election. If he loses, the Trump organization could be gone, Trump media and technology truth, social will be gone. Like there's no way that thing can stay operational and Trump could end up in jail. He could lose his freedom. He could be on house arrest. He's not gonna be able to pardon himself. There's a million bad things that will happen to Trump if he doesn't win. And we're starting to see them now. And truth social is the best example of that. So by the time September 25th rolls around for Donald Trump, there may not even be a point in selling any of his shares. They may be worth so little that he can't even recover the cost that they have spent over the years with true social. That is hilarious. And he absolutely deserves every second of it.