The chapter explores the meteoric rise of Truth Social's stock value post-merger, fueled by enthusiastic retail investors and a strong anti-establishment sentiment. It analyzes the disconnect between the company's market valuation and its financial standing, questioning the sustainability of the soaring stock prices. The discussion delves into the implications of Trump's involvement in Truth Social and his potential access to significant funds tied up in company stocks.
Over the past few years, Donald Trump’s social media platform, Truth Social, has been dismissed as a money-losing boondoggle.
This week, that all changed. Matthew Goldstein, a New York Times business reporter, explains how its parent venture, Truth Media, became a publicly traded company worth billions of dollars.
Guest: Matthew Goldstein, a New York Times business reporter.
Background reading:
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.