Donald Trump lost a lot of money by flopping at the presidential debate as his Truth Media stock dropped to an all-time low.
The New York Times posted:
Shares of former President Donald Trump’s social media company fell 10 percent on Wednesday, closing at their lowest level since the company went public. Shares of the company, Trump Media & Technology Group, have often traded as a proxy for Trump’s presidential election prospects. In a little more than a week, Trump will be able to sell some of the 115 million shares he has in the parent company of his Truth Social site.
Trump’s stock is hovering around $16 a share in after-hours trading.The high for the stock came right after it hit the market at more than $78 a share. Anyone who bought Trump stock and kept it has lost a whole lot of money. This includes Donald Trump, who owns 60% of the stock. Trump Media will not be the giant windfall for Trump that he was expecting.
It is unclear if Trump will sell his stock when he becomes eligible to do so in a few weeks. The odds are that he won’t because the stock has always appeared to be a play for Trump to profit from the presidency if he returns to the White House.
Many who bought Trump stock did so because they thought the ex-president was heading back to the White House.
Trump’s White House odds are by no means dead, but after last night’s nightmare debate, things are definitely not looking as good for him as they did 24 hours earlier.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
