The stock market has been setting records, but Vice President Kamala Harris’ campaign on Monday issued a reminder that one company hasn’t been enjoying the rally: Trump Media & Technology Group Corp.
That’s the company behind Donald Trump’s Truth Social website, and Trump owns a majority of the shares in it.
But the value of those shares has been plunging.
Harris’ rapid response team shared the contrasting headlines on X, formerly Twitter:
Trump’s stock price hit a high of $79.38 in March.
It’s been in free fall since, falling to a new low of $12.15 on Monday, days after the expiration of a lock-up period that had prevented insiders ― including Trump ― from selling their shares.
They are now free to do so, although the former president said last week he won’t be selling his.
Earlier this year, the company said in an SEC filing that it had lost more than $58 million and generated only $4.1 million in revenue last year. An auditor warned in that filing that there is “a substantial doubt” about whether Trump Media can “continue as a going concern.”
A filing last month found the company had just $837,000 in revenue in the second quarter.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
