It was the worst of times, it was the worst of times. It was a time when Donald’s minions crowed one day about what a genius he was and then the next day, crickets. It was a time when #TrumpIsInHiding trended, because if there was one topic that the Mango Messiah was not preaching the word on, on April Fool’s Day, it was what happened to his windfall stock? Yes, we speak of Truth Social that put Trump back on the Forbes list of richest people on a Friday and looked to be going out of business as of the following Monday. Such is the way of Trump world.

Harry Litman is a columnist for the Los Angeles Times. I was hoping to find a greater elaboration of his tweet but maybe he hasn’t published it yet. I have no doubt, whatsoever, that the Truth Social post mortems will be plentiful. Especially if Truth Social has a brutal Tuesday to match its Monday.

Here are the sad facts from Yahoo Finance:

Trump Media & Technology Group (DJT), the parent company of Donald Trump’s social media platform Truth Social, sank more than 21% Monday following a blockbuster debut last week.

At Monday’s closing price of $48.66, Trump Media had a market cap of $6.65 billion, giving the former president a stake worth $3.8 billion. After the company’s public debut last week, Trump’s stake was worth just over $4.5 billion.

The stock drop comes on the heels of an updated regulatory filing early Monday that showed the company taking on heavy losses and facing “greater risks” associated with the former president’s ties to the platform.

According to the filing, Trump Media reported sales of just over $4 million as net losses reached nearly $60 million for the full year ending Dec. 31. The company warned it expects losses to continue amid greater profitability challenges.

“TMTG has historically incurred operating losses and negative cash flows from operating activities,” the filing read.

“TMTG expects to continue to incur operating losses and negative cash flows from operating activities for the foreseeable future, as it works to expand its user base, attracting more platform partners and advertisers.”

It says right there in black and white that Truth Social intends to run in the red — until it can get a broader user base, and very basic infrastructure like platform partners and advertisers. Truth Social has always been a dream, a mirage, and now the hard cold numbers are showing up.

I truly look forward to waking up and seeing what the stock market is going to do tomorrow. Based upon how bad things are, Trump may remain in hiding.

He’s going to campaign in Wisconsin tomorrow, social media platform or not. And it would be intriguing if Truth Social did close its doors. What would that leave for Trump, then, besides Twitter? And wouldn’t Elon Musk be crowing about that?

I said yesterday April was going to be Donald’s Month From Hell. He’s only just survived the first day. April 2 had the potential to be even worse. And let’s not even talk about April 15.

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4 COMMENTS

  1. You know, it must be absolutely killing him that he has all that “wealth” on paper and not be able to touch it. He so desperately wants his grubby little hands on that 3 bill and he wouldn’t think twice about tanking the company to get it. The POS has September 30 highlighted on his calendar, if it can last that long. Wouldn’t surprise me if it comes out that he has already secured loans against his shares.

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  2. Trump’s major failures, advance at such a pace, he has NO WAY to threaten anybody else with a business move on his part … If he opens up on someone with REAL cash, no worry in their own world, he would be laughed out of the room …

    Someone should remind Trump that the fines are just beginning, certain States are chewing at the bit to begin destroying everything Trump for miles around … Most States have a string of smart Lawyers, that already have filled out their note cards with hundreds of questions for Trump Senior, beginning with “What’s 1+2-3, to which he could reply, “Don’t tell me, I got it, answer – 4, 4 comes right after 1,2,3, – RIGHT?

    I seem to remember that the things that Trump continues to do, were considered capitol crimes before … We put a man and his wife in side-by-side metal chairs in a gas chamber for their criminal involvement with the security of military information …

    Maybe Trump should wonder what COULD be his outcome if we brought the possibility of capitol punishment in his, “Especially”, abhorrent performance as a so-called US president …

    He has so many examples on the huge stage of International TV, like taking the word of Putin, over our own intelligence people, “Putin said He did not do that”, My wife and I nearly smashed our TV, as we hollered, “TRAITOR”, …

    The Constitution lays out the duties of the Presidential Office, including, (NOT LYING TO THE CITIZENS), He has, thousands of times … And REALLY, would you buy a used car from him?

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