'Terrible Run': Report reveals staggering amount Truth Social has lost
Former President Donald Trump’s Truth Social media company has lost nearly 75 percent of its value in recent months as investors hedged their bets on his presidential campaign and stock prices tumbled, according to a new analysis.
Barron's revealed on Tuesday morning that Trump Media, trading as DJT, was worth just $2.4 billion when markets closed Monday night — a stark fall from the $8 billion valuation the Times stamped on the publicly traded company in March.
"The picture has darkened for the social media company that Trump hoped would rival X," Barron's reported. "Trump Media stock has had a terrible run."
Monday saw stock prices closing down at 10 percent at $12.15 Monday evening — months after the stock hit the market and peaked at $66 a share, Barron's reported.
ALSO READ: Notorious conspiracy theorist rolled out by RNC to train election overseers in Michigan
The financial magazine linked stock prices to Trump's perceived likelihood of winning the 2024 presidential election and concerns over future losses.
"Investors’ fears that Trump’s chances at winning a second term in the White House are , as well as concerns that the ex-president and other big investors may , have likely weighed on the stock price," Barron's reported.
"Signs that Trump’s chances in the election are improving, or that the social media site will receive more investment, could reverse the bad streak."
Trump Media stock prices surge after the failed assassination attempt on Trump's life in July, but tumbled after President Joe Biden dropped out of the race and the company reported a $16.4 million net loss in the year's second quarter, Barron's reported.
"Since the stock’s opening price of $46.20 on July 15—the first trading day after the July 13 assassination attempt," Barron's reported, "the stock has lost 74% of its value."