BCN #81 Trump’s Failing Stock Just Hit Its Lowest Point Yet

BCN #81
Trump’s Failing Stock Just Hit Its Lowest Point Yet

Donald Trump can finally sell his Truth Social stock. Too bad it’s worth so little now.

Trump Media & Technology Group stock dropped to its lowest price yet Friday, the first day Donald Trump is allowed to sell his shares in the social media venture.

Shares dropped more than 7 percent to $13.68 per share, putting the value of the company at $2.74 billion. It’s a far cry from when the stock price peaked at nearly $80 per share in March after its initial public offering.

Until Friday, the Republican presidential nominee wasn’t allowed to sell any of his shares unless he had permission from the company’s board of directors. Last week, he promised that he wouldn’t immediately sell his shares, giving the stock a slight bump. But that was quickly erased after the debate and with Friday’s arrival.

Now what was once a sure cash cow for Trump has lost most of its value, and the former president must be tempted to squeeze whatever profit he can out of it. He has unpaid bills, legal fees, and a massive fraud judgment against him in New York, where the state might seize his assets. He has resorted to absurd moneymaking schemes such as selling NFT trading cards, his own branded Bibles, his own cryptocurrency scam, and assassination-themed sneakers.