{"id":60829,"date":"2024-04-01T12:30:15","date_gmt":"2024-04-01T19:30:15","guid":{"rendered":"https:\/\/www.newscorpse.com\/ncWP\/?p=60829"},"modified":"2024-04-03T15:13:20","modified_gmt":"2024-04-03T22:13:20","slug":"trumps-truth-social-craters-in-first-week-of-trading-auditor-doubts-its-ability-to-continue","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=60829","title":{"rendered":"Trump’s Truth Social Craters in First Week of Trading, Auditor Doubts Its Ability to Continue"},"content":{"rendered":"

The myth of Donald Trump as a savvy businessman has been circling the drain for decades. In reality he is a nepo-baby who inherited his wealth and promptly lost much of it in failed real estate deals and multiple bankruptcies. He only managed to salvage his reputation by working as a TV game show host for fourteen seasons of “The Apprentice,”<\/em> where he playacted as a successful and ruthless CEO.<\/p>\n

Click here to Tweet this article<\/a><\/strong><\/p>\n

\"Donald<\/p>\n

Trump’s latest misadventure in business is his Trump Media and Technology Group (TMTG), a hollow shell of company formed by stealing a Twitter clone’s code and merging with a blank-check place holder on the Nasdaq stock exchange. From its inception it has stumbled through financial and legal sinkholes that would spell doom for any business not fronting for a populist cult leader.<\/p>\n

New filings by TMTG show just how dismal the financial condition of the company is. NBC News is reporting<\/a><\/strong> that…<\/p>\n

“Trump Media and Technology Group, which operates the Truth Social platform, reported it lost $58.2 million in 2023 while generating total revenues of $4.1 million, according to the Monday filing with the Securities and Exchange Commission. Trump Media listed its largest expense for the year as interest payments totaling more than $39 million.”<\/p><\/blockquote>\n

So TMTG is operating deep in the red, just like most of the red states where Trump’s most devoted disciples reside. And it’s notable that about 67% of the company’s reported expenses are in interest payments. That means they are heavily leveraged with loans that they will likely have trouble repaying considering their feeble revenue. The report went on to reveal even more ominous news, saying that…<\/p>\n

“‘The filing includes a note from an independent accounting firm, Colorado-based BF Borgers CPA PC, warning that Trump Media’s ‘operating losses raise substantial doubt about its ability to continue as a going concern.’ The firm has worked with Trump Media since 2022.”<\/p><\/blockquote>\n

Anyone with even a novice’s knowledge of investing would have recognized that TMTG (with the doom-fated ticker symbol, “DJT”<\/em>) was a catastrophe waiting to happen. And in its very first week on the stock market, it proved its worthlessness. Following the release of its financial filing the stock nosedived about 20%. It quickly sunk to the level that it priced at on its opening day a week ago. Shareholders who bought in at the beginning lost as much as 38% as the stock dropped from its high of $79.00 to under $50.00.<\/p>\n

A lot of the press chatter about the stock has focused on the potential windfall it would present for Trump. At one point he was said to have gained a paper bounty of $6 billion. However, that presupposes that he sells his shares while stock price remains in the stratosphere. Which is a ship that has already sunk.<\/p>\n

Furthermore, Trump is bound by a lock-up provision that prohibits him from selling any shares for six months. While the TMTG board – made up of mostly Trump flunkies – could vote to waive that provision, it would still be problematic for him to sell. For one thing, it would immediately tank the share value of the stock. That would impact the holdings of all of the board members and temper any enthusiasm to give Trump a waiver.<\/p>\n

What’s more, if the board did give Trump a waiver, it would open the board members up to lawsuits from every other shareholder, including deep-pocketed institutions, who would lose money as a result. It would, therefore be pretty stupid for the board to vote for a waiver that would cost the board members millions and put them in massive legal peril.<\/p>\n

Would they do it anyway? Maybe. It is, after all, a cult. And the cult leader gets his way. He is even suing the founders of Truth Social<\/a><\/strong> for allegedly mismanaging the company in its early days. Although it is a retaliatory suit, because those founders sued him first for trying to deprive them of the shares they were contractually promised.<\/p>\n

In addition to the financial risks for investors. TMTG poses a grave national security risk. Adversarial foreign interests could exploit the stock as a backdoor to funneling money (i.e. bribes) to Trump. Vladimir Putin and\/or his Russian oligarchs, Mohammed Bin Salmon, Xi Jinping, and even wealthy, allegedly American billionaires, could simply purchase shares of TMTG to artificially inflate its stock price in exchange for “favors”<\/em> from Trump.<\/p>\n

All of this exposes Trump’s stock as a potentially dangerous vehicle for investors, as well as for all Americans and the sovereignty of the nation. The sooner it flatlines (representing its true value) the better. For the record, here are some other recent stories about Trump\u2019s misadventures in social media and the stock market…<\/p>\n

Trump’s Truth Social is Revealed to Be Another Terribly Risky Trump Scam – By Its Own Prospectus<\/a><\/strong>
\nA quick look at the company\u2019s prospectus should frighten off any astute investors. It is exposed as “a high-risk, speculative operation with few hard numbers behind it. It\u2019s already the subject of subpoenas, from regulators and a grand jury, even though it\u2019s barely off the ground.”<\/p><\/blockquote>\n

Trump’s Truth Social Reports Massive Losses and Warns that it Could Go Out of Business<\/a><\/strong>
\nA Securities and Exchange Commission (SEC) filing by the company reveals its financial frailty. The report paints a pitiful picture of the enterprise’s prospects going forward and reveals that it has lost $31.5 million since it opened for business just two years ago.<\/p><\/blockquote>\n

Trump\u2019s Truth Social Continues to Collapse as Its Biz Partner Loses Virtually All of its Funding<\/a><\/strong>
\nThe funding partner for TMTG said that it will return the remaining $533 million of the $1 billion raised to finance the venture after investors canceled $467 million of commitments.<\/p><\/blockquote>\n

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam<\/a><\/strong>
\nTrump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”<\/em><\/p><\/blockquote>\n

Truth Social Disease: Ads on Trump\u2019s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch<\/a><\/strong>
\nAdvertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.<\/p><\/blockquote>\n

LOCK HIM UP: Trump\u2019s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury<\/a><\/strong>
\nIn addition to the Grand Jury proceedings, the SEC is investigating whether TMTG and DWAC executives improperly coordinated with each other and engaged in insider trading. They have also partnered with a Chinese firm with a dubious legal past.<\/p><\/blockquote>\n

\n
\n

Be sure to visit and follow News Corpse
\non Twitter<\/a> and Facebook<\/a> and Instagram<\/a> and Threads<\/a>.<\/strong>\n<\/p>\n

And check out my books on Amazon:<\/strong>\n<\/p>\n

Fox Nation vs. Reality:
\nThe Fox News Cult of Ignorance.<\/a><\/strong>\n<\/p>\n

Thanks so much for your support.<\/strong><\/p>\n<\/div>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

The myth of Donald Trump as a savvy businessman has been circling the drain for decades. In reality he is a nepo-baby who inherited his wealth and promptly lost much of it in failed real estate deals and multiple bankruptcies. He only managed to salvage his reputation by working as a TV game show host […]<\/p>\n","protected":false},"author":1,"featured_media":45948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1,11],"tags":[554,1457,1320,1458],"class_list":["post-60829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-socialmedia","tag-donald-trump","tag-social-media","tag-stock-market","tag-truth-social"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-drain.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4Ijg-fP7","jetpack-related-posts":[{"id":66551,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=66551","url_meta":{"origin":60829,"position":0},"title":"Truth Social Parent Plans Desperate Share Buyback to Boost its Failing Stock and Enrich Trump","author":"Mark NC","date":"6\/23\/2025","format":false,"excerpt":"America's Grifter-in-Chief, Donald Trump, has tried an extensive number of financial scams intended to fatten his wallet at the expense of his gullible cult followers. They range from selling cheesy merch like sneakers, phones, bibles, and crypto, to committing fraud that resulted in 34 felony convictions. Click here to post\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Trump Baby on Cash Pile","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-cash-pile.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":65732,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=65732","url_meta":{"origin":60829,"position":1},"title":"Grifter Trump is Hawking His Stock and Crypto that Have Lost Gullible Rubes Billions of Dollars","author":"Mark NC","date":"3\/23\/2025","format":false,"excerpt":"Does the magnitude and shamelessness of Donald Trump's corruption really surprise anyone anymore? Who could have guessed that the convicted felon responsible for bankrupting four casinos, stealing from his own charity, operating a phony university, and shuttering numerous hoaxes hawking everything from steaks, to air travel, to vodka, to magazines,\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump, Stock Market","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":60271,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=60271","url_meta":{"origin":60829,"position":2},"title":"The Biden-Harris Campaign Posts MSNBC Video of Trump’s Tyrannical Tendencies on Truth Social","author":"Mark NC","date":"2\/22\/2024","format":false,"excerpt":"The new year has barely begun, but in its infancy there have already been some significant events that will likely shape the rest of the year as it progresses toward a profoundly significant election. Among them are the judgments against Donald Trump for defamation, rape, and financial fraud, that total\u2026","rel":"","context":"In "Election"","block_context":{"text":"Election","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=152"},"img":{"alt_text":"Donald Trump, Joe Biden","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-biden-fear.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-biden-fear.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-biden-fear.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61512,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=61512","url_meta":{"origin":60829,"position":3},"title":"Are Trump’s Nazi Videos and Hateful Posts Why Truth Social Lost $327 Million and 19% of Users?","author":"Mark NC","date":"5\/21\/2024","format":false,"excerpt":"The bad news for Donald Trump is piling up as his trial for falsifying business records and election interference (sometimes known as the \"hush money\" trial is winding down. On Tuesday Trump's defense counsel rested their case after calling only two witnesses, one of which was immensely beneficial - to\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"Donald Trump calls for a \"Unified Reich\"","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-unified-reich.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-unified-reich.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-unified-reich.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":66013,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=66013","url_meta":{"origin":60829,"position":4},"title":"Trump’s Truth Social is Creating ‘Non-Woke’ Investment Portfolios for MAGA Cult Investors\/Dupes","author":"Mark NC","date":"4\/17\/2025","format":false,"excerpt":"It just never stops. Donald Trump, the Grifter-in-Chief, has spent his life peddling scams to anyone who was gullible enough to fall for them. He may have begun with gaudy, overvalued condos, elitist golf club memberships, and now bankrupt casinos, but he quickly expanded into cheesy merchandise like digital trading\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=219"},"img":{"alt_text":"Donald Trump, Stock Market","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-stocks-crashing.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":54111,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=54111","url_meta":{"origin":60829,"position":5},"title":"Trump’s TRUTH Social Twitter Ripoff Suffers Another Setback Due to His Criminal Corruption","author":"Mark NC","date":"8\/7\/2022","format":false,"excerpt":"When Twitter permanently suspended Donald Trump two days after the January 6th insurrection that he incited, they said that it was \"due to the risk of further incitement of violence.\" There was a collective sigh of relief in America in anticipation that his maniacal raving might be muffled for a\u2026","rel":"","context":"In "Crime"","block_context":{"text":"Crime","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1475"},"img":{"alt_text":"Donald Trump Sweating","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-sweating.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-sweating.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-sweating.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/60829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60829"}],"version-history":[{"count":7,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/60829\/revisions"}],"predecessor-version":[{"id":60855,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/posts\/60829\/revisions\/60855"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=\/wp\/v2\/media\/45948"}],"wp:attachment":[{"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newscorpse.com\/ncWP\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}