Former President Donald Trump hit the jackpot this spring when his social media company finally went public.
Even though Trump Media & Technology Group DJT generates very little revenue, investors are assigning an eye-popping valuation north of $9 billion to the company. Trump’s dominant stake in Trump Media is now valued at nearly $6 billion.
Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller.
Truth Social’s average number of daily active US users on iOS and Android dropped by 19% year over year in April to about 113,000, according to data shared exclusively with CNN from Similarweb, a data intelligence company.
I really really hope a journalist somewhere is investigating the individuals and shell companies that purchase Truth Social stock, because I would bet that this is happening.
Russia in particular would find it useful because even if it’s done with plausible deniability, it’s another secret that, upon being revealed, would cause major problems for Trump. That is enough to function as leverage.