{"id":62568,"date":"2024-08-10T15:49:21","date_gmt":"2024-08-10T22:49:21","guid":{"rendered":"https:\/\/www.newscorpse.com\/ncWP\/?p=62568"},"modified":"2024-08-11T09:29:35","modified_gmt":"2024-08-11T16:29:35","slug":"loser-trumps-truth-social-is-well-on-its-way-to-becoming-his-next-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=62568","title":{"rendered":"LOSER Trump’s Truth Social is Well on its Way to Becoming His Next Bankruptcy"},"content":{"rendered":"

The last thing that Donald Trump needs now, as his campaign flounders in the wake of the Kamala Harris tidal wave, is for his business enterprises to crumble under the weight of his incompetence. Trump has already had numerous companies fail, including his egomaniacally self-branded meat, vodka, airline, university, and four (count ’em 4!) casinos.<\/p>\n

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\"Donald<\/p>\n

Trump’s resume in business was supposed to be a validation of his qualifications to serve as president. Instead, it is actually evidence of his ineptitude, which was affirmed by the abysmal job he did during his occupation of the white House. He mismanaged the COVID pandemic with horrific results. He tanked the economy. He alienated our international allies. He lost a record number of jobs. In other words, he did to America what he did to his bankrupt businesses. Yet he has the gall to disparage the leadership of Biden and Harris.<\/p>\n

SEE THIS: UH-OH! Trump Meltdown Reveals Kamala Harris Plot to \u2018Destroy\u2019 the \u2018County\u2019 of America<\/a><\/strong><\/p>\n

On Friday the Trump Media and Technology Group (TMTG, parent company of of Truth Social), reported its earning for the second quarter of 2024. And it was not a pretty sight. As reported by Investor’s Business Daily<\/a><\/strong>…<\/p>\n

“Trump Media reported net sales of $836,000, down 30% vs. a year earlier. It was the third straight quarter of roughly $800,000 in revenue, up slightly from Q1’s $770,500. Operating costs soared to $19.5 million vs. $4.9 million a year earlier.”<\/p><\/blockquote>\n

So TMTG is sinking faster than a boat with an electric battery. Watch out for the sharks – and the windmills, and Hannibal Lecter. Its stock (DJT) has dropped a whopping 63% since its late March high when it went public. It has a wildly unworthy valuation of about $5 billion, despite having no revenue to speak of, and massive losses. So it has a lot of room to fall even farther.<\/p>\n

The weakness of Trump’s stock makes it less useful as a vessel to funnel laundered funds to him by his political allies, which include foreign interests. There was speculation that such illegal tactics were being used to buy influence with Trump should he be reelected. And those weren’t the only legal shenanigans associated with TMTG. There has been a rash of civil and criminal charges that plagued the enterprise and its principles from its inception<\/a><\/strong>, including disclosures of alleged funding from Russia.<\/p>\n

Trump’s personal stake in the company could net him a hefty windfall. But he can’t cash out until late September. The stock is likely to have lost significantly more value by then. And if he does sell, it will trigger a crushing rush to the exits that could cripple the company and its future prospects as a going concern. Not that he cares. Trump’s modus operandi has been to run companies into the ground, skim off the cream at the top, and let everyone else suffer from the financial catastrophe that he created. This will be just be more of the same.<\/p>\n

SEE ALSO: Trump is Trying to Provoke Panic Over a Common Stock Market Drop to Save His Failing Campaign<\/a><\/strong><\/p>\n

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