Donald Trump’s social media network is losing money just as the former president and convicted felon has resumed posting on X (formerly Twitter).
Trump Media & Technology shares
dropped to $24.60, their lowest price level in months, after Trump posted on X early Monday for the
first time in more than a year. Shares may drop even further as Trump is supposed to sit down for an interview with X CEO Elon Musk Monday night.
The plummeting stock comes after many investors bought shares in the media company hoping for a boost during the 2024 election, with a possible Trump victory netting an even higher increase. Trump Media
reported a loss of $16 million in its first full quarter as a publicly traded company Friday, earning just $836,900 for the period ending June 30.
It’s the latest run of bad news for Truth Social, which is rapidly
losing users.