Wednesday, May 29, 2024

Trump Social Media Stock Keeps Falling with No End in Sight: Down, Down, Down

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Pity the fool who bought stock in Donald Trump’s Trump Media on day one.

Or day two.

Today the stock closed at $32.41. It opened at $78 three weeks ago, then fell to $57. It’s been falling ever since.

Trump himself owns the largest block of Trump Media, which means his personal value has dropped wildly.

Yet, his base thinks he’s a brilliant businessman.

As of April 11, 2024, Bloomberg News no longer lists Trump as one of the top 500 billionaires in the US.

To make the list, you have to have $5.77 billion. Trump doesn’t qualify. He’s chump change compared to Bernard Arnault, Mark Zuckerberg, Bill Gates, and Jeff Bezos. They’re all worth between $150b and $200billion.

As for Trump Media, the bottom keeps on falling out. When it goes below $30, then some real turmoil should begin among whoever has those other shares.

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Roger Friedman
Roger Friedmanhttps://www.showbiz411.com
Roger Friedman began his Showbiz411 column in April 2009 after 10 years with Fox News, where he created the Fox411 column. His movie reviews are carried by Rotten Tomatoes, and he is a member of both the movie and TV branches of the Critics Choice Awards. His articles have appeared in dozens of publications over the years including New York Magazine, where he wrote the Intelligencer column in the mid 90s and covered the OJ Simpson trial, and Fox News (when it wasn't so crazy) where he covered Michael Jackson. He is also the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus.
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