Trump Media takes a dump
For all the claims that Donald Trump’s net worth supposedly rose as a result of the Trump Media deal, the reality is that his shares are likely to be fairly worthless by the time he’s allowed to sell them. Today we saw more evidence of this.
Shares of Trump Media have dropped another fifteen percent today, amid news that the company is planning to issue more stock, which tends to dilute the share price. As of now, Trump Media shares have dropped by more than sixty percent over the past three weeks.
How much further will the shares drop? That’s hard to say. But the company’s troubled financials and lack of revenue suggest that there’s really no basis for any market value to begin with. So yes, it could bottom out completely before Trump is allowed to sell any of his shares. So much for this boosting his net worth in any meaningful way.
