Shares of Trump Media & Technology Group, which owns the social network Truth Social, fell 3.2% to $12.9 on Nov. 7 after the release of its quarterly report. This is their lowest value since September 2024. Since the beginning of the year, the stock has lost about 70% of its value, compared to its January high of $42.9.

Why stocks are falling

Less than a year after the start of Donald Trump's second presidential term, the euphoria generated by his election victory and reflected in the quotes of Trump Media has waned. Ad sales on the Truth Social network are falling and profits remain elusive, Bloomberg writes.

Trump Media posted a loss of about $55 million in the third quarter. That's more than double the loss it posted in the same quarter last year ($19 million). The owner of Truth Social has yet to show a profit since going public. And despite the fact that the company has expanded into cryptocurrencies and event betting, its revenue last quarter was less than $1 million, down slightly from a year ago, when the company received support amid the upcoming U.S. election, Bloomberg writes.

The unstable situation in the cryptocurrency market is also not helping the company's prospects, Bloomberg notes. As of the end of September, Trump Media owned about $1.5 billion in digital assets, including $1.3 billion in bitcoin and about $147 million in the Cronos token. Trump Media said its assets were valued at $3.1 billion by the end of the third quarter.

This article was AI-translated and verified by a human editor

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