Staff Reports
In an epic debut on NASDAQ, Donald Trump’s Truth Social skyrocketed to an $8 billion valuation, outshining media bigwigs like The New York Times. The market madness saw the company briefly hitting $10 billion but settling at a still-impressive number despite raking in just $3 million in revenue.
????Truth Social Is Now Worth More Than The New York Times https://t.co/wozrzviDha
— Patriotic ??Suzanne⭐️⭐️⭐️ (@suzost) March 28, 2024
Now, this financial frenzy has some folks scratching their heads, suggesting that the soaring value of Trump’s media machine is more about faith in the man himself rather than cold, hard cash.
Launching back in February 2021, Truth Social was Trump’s bold response to social media giants like Twitter and Facebook, accused by many conservatives of playing favorites with content.
The platform offers a safe haven for those who believe they’ve been wronged by the content police on other social sites. So, it’s no surprise that Truth Social quickly found a foothold among the conservative crowd in America – A breath of fresh air for those who feel like their voices have been silenced.
When Trump’s shares shot up by over 55% out the gate on Tuesday, you could practically hear the champagne corks pop in Mar-a-Lago! With the shares jumping to $77.67, Trump’s worth climbed a whopping $6 billion.
Amidst the hoopla, financial experts are throwing shade, hinting that this stock hike might be too good to be true. With warnings of a potential crash landing down the line, some are urging caution like they’re handing out life jackets on the Titanic.
