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Trump loses $1.3 billion in net worth after the worst-ever day for his social media stock
After a ridiculous spike over the past five weeks that had absolutely nothing to do with the company’s actual business, former President Donald Trump’s social media stock is suffering a sudden setback.
After a ridiculous spike over the past five weeks that had absolutely nothing to do with the company’s actual business, former President Donald Trump’s social media stock is suffering a sudden setback. For context, CBS owner Paramount Global, a company that Trump Media recently surpassed in market value, has brought in more than $14 billion in revenue so far this year. “Fundamentally the valuation is a head scratcher but we have seen other meme stock narratives like AMC and GameStop on similar paths the last few years,” Dan Ives, senior equity analyst at Wedbush Securities, told CNN in an email.
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