Donald Trump’s followers convened at Mar-a-Lago last Wednesday to rejoice over the public listing of his social media company, Truth Social, despite the continuous drop in stock value. Trump urged his supporters to be patient, as he extolled the $200 million liquidity of his business. However, the stock prices kept plummeting, reaching a 50% drop from the end of March.
While the dwindling shares have led many observers to question the company’s fiscal stability, it has an impressive paper worth of over $4 billion. This can partly be attributed to loyal Trump sponsors keeping the stock buoyant.
But not all is well within Trump’s camp. A legal battle between Trump and associates from his reality show “The Apprentice”, Andy Litinsky and Wes Moss, is ongoing. Trump is suing for more control, arguing they haven’t met their responsibilities and don’t deserve their 8.6% stake in the business. The ex-associates have countered with their suit, challenging a six-month lockdown on selling their shares.
Some investors still remain optimistic about Truth Social’s potential and are continuing their financial support. Humming with activity, Truth Social’s platform hosts encouraging discussions even as the stock’s price deteriorates. Meanwhile, speculations over an impending significant event following the Mar-a-Lago gathering keep investor hopes alive despite the disappointing returns so far.
Vocabulary List:
- Convened (verb): To come together for a meeting or activity.
- Rejoice (verb): To feel or show great joy or delight.
- Liquidity (noun): The availability of liquid assets to a market or company.
- Buoyant (adjective): Able to float cheerful and optimistic.
- Dwindling (adjective): Gradually decreasing in numberamountor intensity.
- Fiscal (adjective): Relating to government revenueespecially taxes.
