The stock of Truth Social, the social media platform launched by former President Donald Trump, has experienced a significant surge in its initial days of trading.
The parent company of Truth Social, Trump Media & Technology Group, noticed an enormous 16% increase on Tuesday, marking a strong start for its debut in the market. During afternoon trading on Wednesday, there was a significant 14% increase in the stock.
Trump’s Truth Social Stock Surges
Considering Truth Social’s low sales and profit margin of about $1 million each quarter, the company’s stock price increase has increased the valuation to almost $8 billion. Trump may eventually profit financially from this stock performance to the tune of several billions of dollars given his 60% ownership stake in the company.
Experts who contacted ABC News claimedthat the surge in the stock was …
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