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Donald Trump’s Truth Social soars on market debut: all you need to know

Economic TimesEconomic Times · 5m
Donald Trump’s Truth Social soars on market debut: all you need to know

Donald Trump's social media company, Truth Social, experienced a strong market debut with its shares surging by approximately 16% on the first day of trading on Nasdaq. The company's market value currently stands at $7.85 billion, with Trump's stake worth around $4.6 billion. However, Truth Social's financials reveal a loss of $49 million in the first nine months of 2021, raised concerns about ongoing operational losses, and reported significantly lower user numbers compared to popular platforms like TikTok and Facebook. While small-scale investors are showing support for Trump and seeking to capitalize on the excitement, some investors remain cautious due to the company's dependency on Trump's presence.

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