Published 1 month ago

Why Truth Social's stock price soared despite company reporting $49M loss last year

Summary by Ground News

Truth Social, the social media venture spearheaded by former President Donald Trump, witnessed a significant climb in its initial days of public trading. Trump Media & Technology Group, the platform's parent entity, experienced a 16% rise in its stock value upon debuting on Tuesday. The momentum continued into Wednesday, with an additional 14% increase observed by the afternoon. This rally propelled Truth Social's valuation to an astonishing $8 billion, a figure that stands in stark contrast to the company's modest quarterly earnings of just around $1 million.

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PBS NewsHour

Why Truth Social's stock price soared despite company reporting $49M loss last year

Donald Trump's Truth Social made its debut on the Nasdaq Tuesday. The stock price soared, powered by supporters looking to invest in the former president's business. But the platform's stock success doesn't seem to match its financials. Truth Social lost $49 million last year and has fewer users than any other social network that has gone public. William Brangham discussed more with Dan Alexander.

1 month ago·Washington, United States

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Celeb Tattler

Trump's Truth Social Stock Soars Despite Losses: Why?

In a remarkable surge of market activity, shares of Truth Social, the social media venture spearheaded by former President Donald Trump, witnessed a significant climb in its initial days of public trading. Trump Media & Technology Group, the platform's parent entity, experienced a 16% rise in its stock value upon debuting on Tuesday. The momentum continued into Wednesday, with an additional 14% increase observed by the afternoon. This rally prop…

1 month ago

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