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Trump Media shares crash to record low despite better polling
Until recently the price of Truth Social's parent company, TMTG, has been seen as a barometer of the former president's election chances in November.
On Monday, a poll published by The New York Times and Siena College showed him holding onto his lead in Georgia while pulling ahead of Harris in Arizona and North Carolina following their contentious debate this month that saw Trump go viral for claiming immigrants are eating pets. Given Trump’s need to drum up cash to meet legal fines in the hundreds of millions of dollars and the lack of unencumbered assets he can easily liquidate, investors seem unwilling to take the former White House resident’s words at face value. Chamath Palihapitiya, an early Facebook investor best known for promoting SPACs during their pandemic-era boom, ironically predicted TMTG was “a directional bet on the value of his brand” and something akin to the Official Trump Coin just unveiled.
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