{"id":2221641,"date":"2024-04-15T17:48:02","date_gmt":"2024-04-15T21:48:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/truth-hurts-trump-has-lost-billions-as-social-media-company-makes-another-stock-move\/"},"modified":"2024-04-15T17:51:14","modified_gmt":"2024-04-15T21:51:14","slug":"truth-hurts-trump-has-lost-billions-as-social-media-company-makes-another-stock-move","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/truth-hurts-trump-has-lost-billions-as-social-media-company-makes-another-stock-move\/","title":{"rendered":"The reality is harsh: Trump faces significant losses following social media company&#8217;s latest stock maneuver"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftruth-hurts-trump-has-lost-billions-as-social-media-company-makes-another-stock-move%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2221641&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Trump\u200d Media and Technology Group, the company behind Truth\u2062 Social, issued \u206421.5 million new\u200d shares, causing a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/united-airlines-is-buying-15-supersonic-net-zero-carbon-jets-from-boom-supersonic-will-fly-twice-as-fast-as-todays-passenger-jets\/\" title=\"United Airlines Is Buying 15 Supersonic \u2018Net-Zero Carbon\u2019 Jets From Boom Supersonic, Will Fly \u2018Twice As Fast As Today\u2019s Passenger Jets\u2019\">stock drop<\/a> of over\u2062 15%. Former President Donald Trump, the majority shareholder, lost an estimated $470\u2062 million in \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">net worth<\/a> due to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-treasury-yields-edge-higher-on-russia-sanctions-announcement\/\" title=\"U.S. Treasury Yields Edge Higher on Russia Sanctions Announcement\">market reaction<\/a>. The decline began on April 2 and accelerated with the recent share issuance. The issuance \u200cof 21.5 million new shares by Trump Media and Technology \u2062Group, the entity behind Truth\u2062 Social, triggered a stock plummet exceeding 15%. As a result, former President Donald Trump, holding the majority of shares, suffered an \u2064estimated \u200b$470 million hit to his \u200bnet worth. This downward \u2063trend commenced on April 2\u2062 and worsened following \u2064the recent share release.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>Trump Media and Technology Group, the company that owns <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/truth-social\/\" target=\"_blank\" rel=\"noopener\" title>Truth Social<\/a>, announced the issuance of 21.5 million new shares on Monday, causing the market to sell off many of its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/robinhood-will-fork-over-70-million-to-slighted-investors-and-feds\/\" title=\"Robinhood Will Fork Over  Million To Slighted Investors And Feds\">shares en masse<\/a> as the stock dropped over 15%.<\/p>\n<p>Former President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noopener\" title>Donald Trump<\/a>, the majority share owner of TMTG, lost about $470 million in net worth after Monday\u2019s drop, <a href=\"https:\/\/www.cnn.com\/2024\/04\/15\/investing\/trump-stock-new-shares\/index.html\" target=\"_blank\" rel=\"noopener\" title>per<\/a> CNN. The decline started on April 2, when the stock traded at $51.60. It has since nearly halved its value.<\/p>\n<p>The new stock issuance will devalue Trump\u2019s and others\u2019 shares in the company but will allow the company to raise more cash right now. Matthew Tuttle, CEO of Tuttle Capital Management, said the company would be \u201cstupid\u201d not to sell more stock, even amid the stock plunge.<\/p>\n<p>TMTG will not be able to sell those new stocks immediately because they will have to jump through other hoops, including a six-month waiting period, in order to get the move finalized.<\/p>\n<figure><\/figure>\n<p>Trump\u2019s stock shot <a href=\"https:\/\/www.cnbc.com\/quotes\/DJT\" target=\"_blank\" rel=\"noopener\" title>as high<\/a> as $71.93 on March 27 as investors celebrated the company\u2019s merger with Digital World Acquisition Corp., a \u201cblank-check company\u201d or type of business that raises cash to find other companies to merge with. <\/p>\n<p>Trump Media and Technology Group has long been considered overvalued due to its lack of revenue. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/13-things-that-lasted-longer-than-cnn\/\" title=\"13 Things That Lasted Longer Than CNN+\">company brought<\/a> in about $750,000 in the last quarter of 2023, paling in comparison to Meta\u2019s $40 billion earnings in the same period. TMTG brought in $4.1 million in 2023 and lost nearly $58.2 million.<\/p>\n<p>Fox News host Maria Bartiromo recently questioned TMTG CEO Devin Nunes, a former House Republican from California, on the company\u2019s market downturn.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>\u201cIf you actually look at the cost, we built Truth Social \u2026 for a fraction of what many of these Big Tech dinosaur companies were built for,\u201d Nunes said. <\/p>\n<p>\u201cSo even if you take the ridiculous cost that it took us to get to this point, we are well positioned because we have no debt,\u201d he added. \u201cWe\u2019re coming out of this with no debt, a platform that works really, really well that communicates to millions of people. And then we have $200 million in the bank.\u201d<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former President Donald Trump&#8217;s company, Trump Media and Technology Group, revealed the release of 21.5 million new shares for Truth Social, resulting in a substantial drop of over 15% in the stock value. This move led to Trump&#8217;s estimated loss of around $470 million as the market reacted by selling off shares en masse<\/p>\n","protected":false},"author":1,"featured_media":2221642,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP24086652793540-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2221641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP24086652793540-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2221641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2221641"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2221641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2221642"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2221641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2221641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2221641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}