Trump media's stock hits all‑time low, facing financial turmoil
CNBC reports that the stock price of Truth Social, owned by Donald Trump, is at its lowest since its debut on the stock market. Trump owns nearly 59% of the shares, and his stake is valued at over $2 billion.
CNBC reports that the shares of Trump Media, whose majority owner is former President Donald Trump, fell below $20 for the first time since Truth Social went public in March this year.
The stock prices have been weighing on the company for months, and the latest Trump Media reports show that the company is losing millions of dollars and generating minimal revenue.
Trump owns nearly 59% of the shares. As CNBC highlights, even after losing a significant portion of its value, Trump's shares are still worth over $2.2 billion based on Wednesday’s stock price.
However, the channel suggests that after the lock-up period preventing the sale of shares expires on 20 September, the former president could theoretically decide to sell his shares.
At the same time, Trump is urgently seeking new funds for his presidential campaign. One of the ways is selling digital collectible cards featuring the former president.
The cost of one NFT token is $99. The larger the number of purchased cards, the more attractive the gift. A package of 75 cards or more can earn the possibility of having dinner with Donald Trump.
