As bad financial news continues to pour in for Donald Trump and his teetering Truth Social site, the failed former president took to social media Thursday morning in a desperate attempt to prop up his latest flagging business venture.
With multiple reports of massive financial losses for Truth Social making headlines, the disgraced ex-president resorted to his usual strategy of bombast and outright lies as a defense.
“All of the competitors to TRUTH SOCIAL, especially those in the Radical Left Democrats Party who are failing at every level, like to use their vaunted ‘disinformation machine’ to try and convince people, and it is not easy to do, that TRUTH is not such a big deal and doesn’t “get the word out” as well as various others, which they know to be false. I THINK TRUTH IS AMAZING!’ he wrote. “First of all, it is very solid, having over $200,000,000 in CASH and ZERO DEBT.”
Trump then claimed the reason Truth Social will succeed is because it’s connected to him, even though the long trail of failed businesses carrying his name suggests otherwise.
“More importantly, it is the primary way I get the word out and, for better or worse, people want to hear what I have to say, perhaps, according to experts, more than anyone else in the World. My TV ratings are by far the highest, and my Rallies are not equaled, even close, anywhere or by anyone. Look, I had hundreds of millions of followers on various platforms, and could have them back again, but was cancelled for largely political reasons. Those platforms all want me back…They need me back! On Truth I have 7,000,000 followers……”
In a second post, Trump claimed press reports of Truth Social’s financial struggles were “fake news.”
“So don’t believe the FAKE NEWS. Until I came along and exposed them, they were respected and believed. Now they are the exact opposite. With the Russia, Russia, Russia HOAX. and all of the others, people get it. Look, using TRUTH, I became the Republican Nominee for President of the United States, and in record time! When I ENDORSE a politician on TRUTH, they almost ALWAYS WIN. If it didn’t work, or properly get the word out, I wouldn’t use it – But it does work, and work really well – And the fun is just getting started!!!”
But as Fortune noted earlier this week, the underlying financial health of Truth Social has dragged down its stock price.
“Trump Media’s shares soared in their first couple days of trading — surpassing $79 at one point Tuesday — but have since fallen closer to their initial offering price of $49.95. As of midday Monday, Trump Media’s stock plunged more than 23% to below $48, meaning a lot of early investors are taking a hit.”
It will be interesting to see if Trump Media shares continue to tank on Wall Street today. If they do, the Truth Social could soon become nothing but a memory.
