Donald Trump’s Media Company Soars in Stock Market Debut
Donald Trump’s media venture has made a big splash on the stock market, with shares skyrocketing past $70 each, giving the company a value of over $9 billion.
The former president now holds a stake worth more than $5 billion. However, analysts are skeptical, noting that the company’s main platform, Truth Social, hasn’t performed well financially compared to other social media giants like Reddit.
The stock’s wild ride is reminiscent of meme stocks, driven largely by individual investors, many of whom are Trump supporters.
Despite the hype, experts caution that the current share price might not accurately reflect the company’s true value.
Trump’s financial windfall from the stock offering could be substantial, but his political future and potential conflicts of interest add uncertainty to the company’s outlook.
Source : BBC
https://www.bbc.com/news/business-68667664