No legitimate account firms wants to be associated with Trump's Truth Social. An accounting firm hired to vet Truth Social's financials quit after less than a year because it no longer wanted to be linked to Trump: FT https://www.yahoo.com/news/accounting-firm-hired-vet-truth-025907451.html
Since it began public trading on March 26, Trump Media’s share price has fallen more than 62%, from an opening price of $70.90 that day down to around $27 on Monday. As a result, its market capitalization has been slashed by nearly $6 billion, leaving it at around $3.7 billion as of Monday. Trump’s current stake in the company — nearly 60% of its shares — was worth more than $2.2 billion at Monday morning’s share price. Trump is not allowed to sell his shares until a six-month lockup period expires. The lockup period is a condition of Trump Media’s long-delayed merger with the shell company Digital World Acquisition Corp., which was finalized March 25. Trump, whose social media following was massively diminished after he switched to Truth Social following his suspension from Twitter and Facebook in 2021, has tried to encourage his followers to flock to the fledgling app. It is unclear if they have heeded Trump’s call: The company has not publicly released key performance indicators, including the number of active Truth Social users. It has, however, revealed a net loss of $58.2 million on revenue of just $4.1 million in 2023. “The stock valuation is detached from the reality of the financials,” said Ben Silverman, head of Verity Research. But if the stock price holds high enough for the company to issue earnout shares, Trump and other insiders could be in line to receive a windfall worth more than $1 billion at trading prices of $27.00 At the time of this message post, DJT is currently @ $23.06 (down another -13.34% on the day) Weak Support around $20 price level ---------- These days, 2 cents of advice are not worth anything. wrbtrader
I am just waiting for his next post... "You libs keep lying about DJT stock, which is doing great like no one has ever seen before."
https://edition.cnn.com/2024/05/03/media/truth-social-stock-trump-djt/index.html Truth Social keeps shrinking despite the Trump trial and looming election
https://edition.cnn.com/2024/05/03/business/trump-media-accounting-firm-charged-fraud/index.html Trump Media’s accounting firm charged with ‘massive fraud’