Truth Social Stock Dives Further Days Before Trump Can Sell His Shares

Donald Trump only has a few days left before he can sell his shares of Truth Social (officially the Trump Media & Technology Group stock), but the whole thing could end up being completely worthless by Friday. The stock closed a little over $13 per share last week, then dropped even further during trading on Monday to close to $12. This is a sinking ship, and Trump won’t be the one left without a life preserver. 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.

On Friday of this week, folks, it is a big day because that is the day that Donald Trump, who owns 57% of the Trump media and technology stock Friday, is the day that he can finally sell it. And judging from the looks of things, by the time we get to Friday, that stock is going to be worth $0. Now, late Friday, and this was hilarious, I posted about it on social media, but late last Friday, a week before Trump could sell the stock hit $13 and 55 cents. And at that point, Baron's, you know, the financial, uh, reporters they reported last week that said, uh, if Trump's media share price drops below $13 per share, then his quote, paper gains rapidly vanish, which means all of the money he could be making off of selling his stock, if it goes below $13 per share, they disappear leaving him with nothing.

Well, I am proud to report to you that on Monday, yep, it dropped below $13. In fact, it hit close to $12. So Trump's stock that he can't sell till Friday just keeps going down, down, down, down, down to levels that we never dreamed of. And what I love about this is that I was making fun of him when the stock dropped to like 20 bucks, then it hits 17, then 15, then the next week, 13, we are watching every week this stock get worse and worse and worse. And each time we think, okay, it's bottomed out, right? Like it's not gonna get lower, it's just not even possible for that to happen. And then boom, like clockwork, it happens. So if that is the case, I'm gonna say there's no way it's gonna go below $12, right? Let's just see if, uh, we get a little bit of being proven wrong by the market here.

But the point is this, Trump is kind of leveraging his future on that stock, right? What it was worth, $77 a share, I think was the highest it got. Some reports say 82, but some say it topped out at 77. So somewhere in between there, he was poised to make, what, $6 billion off of it. And now with it below $13 per share, he has no paper gains at all. That is hilarious, and I am enjoying this very much. Let me read you what MarketWatch wrote. Republican presidential nominee. Donald Trump is the largest shareholder in Trump media with 114.75 million shares, or 57% of the company's outstanding stock. CNN reported that he could sell off his stock and reap whatever benefits are left, giving Trump access to a pot of money that he could use to pay sky high legal fees or even fund his presidential

Campaign. But CNBC says the slump worsened days after majority owner Donald Trump and other company insiders got the green light to start selling their stakes in the truth. Social maker. So hedge fund trader Tom Herdon pointed out, quote, anyone who didn't buy the first tick in 2021 is now underwater. So a lot of information to digest there. But basically, if you didn't buy this when Digital World first offered their stock in 2021, which then rolled over into the Trump Media technology group, you've lost money. Like you've lost your money, all of it, you're not gonna get it back. There is no sign on the horizon that this stock is going to fix itself. Donald Trump, as CNN pointed out, could have sold some of it because they actually softened the rules. I think there's a lot of the thing a lot of people missed. A couple months ago they said, Hey, if Trump wants to sell early, you know, we would create a special rule to allow him to do that, but he didn't do it.