Trump Media & Technology Group, chaired by Donald Trump, has seen its stock surge despite dismal financials, including only $3.4 million in revenue and over $10 million in losses. Its main product, Truth Social, struggles with a limited user base and lack of advertisers. The company's valuation reached nearly $8 billion, surpassing The New York Times. Like other meme stocks, it leverages emotional investment rather than sound financial fundamentals, tapping into Trump’s anti-elite appeal and the desire of his supporters for validation through stock ownership.
After the stock-market frenzy that ensued when Trump Media started trading, it became evident that Donald Trump is now chairman of the most overvalued company on Nasdaq.
Trump Media's only product, Truth Social, has a tiny user base and generating only $3.4 million in revenue against over $10 million in operating losses.
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