Trump’s Stock Value Craters in Sign of How Much He’s Struggling

Donald Trump’s Truth Social stock has reached a new low, highlighting just how bad things have gotten for the former president and his media company. 

The stock price of Trump Media & Technology Group dropped to $17.40 per share on Wednesday, its lowest rate since it hit the market after it merged with a publicly traded shell company in March, when it was valued at a high of $79.38 per share.

Since its stock market debut, the value has dropped more than 70 percent, The New York Times reported.  

Trump’s majority stake in Trump Media & Technology Group, which is roughly 115 million shares, or a 60 percent stake, was once worth a whopping $6 billion. Now it’s worth only $2 billion. 

Since spiking around July 15—the Republican National Convention—the value of Truth Social stock has steadily declined, following Joe Biden’s withdrawal from the presidential race. Shares of Trump’s media stock have often corresponded with how well investors think Trump’s presidential campaign is going, according to the Times. 

Halfway through August, his stock took a dive after he posted on X, Truth Social’s competitor, hitting its lowest rate in months, around $24.60. Even a booming stock market couldn’t rescue Trump’s lame stock, which continued to sink in value. 

The stock’s prior low was set late last month, when it hit $19.38 per share. Now it seems things have gotten even more dire. 

Trump’s lowest rate ever comes a little more than two weeks away from September 19, when he and other major investors will finally be able to offload his volatile DJT stock at the end of their “lock-up” period. While Trump has not indicated that he will sell his risky shares, it’s more than likely that everyone else will, according to Forbes. 

After Republican vice presidential pick J.D. Vance went viral last week for being extraordinarily awkward at a donut shop in Georgia, Democrat Tim Walz had to poke fun at him during a snack stop in Pennsylvania.

Pursuing sweets like whoopie pies and donuts at Cherry Hill Orchards in Lancaster, Pennsylvania, Walz slid in a joke while speaking to voters.

“Look at me, I have no problem picking out donuts.”

Walz and his daughter, Hope, talked with the manager about his business that has existed in the area for over 50 years, and took back whoopie pies and apple cider donuts for volunteers. Compare Walz’s pit stop to that of Vance and you can draw a representative picture of the candidates.

“I’m JD Vance, and I’m running for vice president,” the Republican candidate said to a worker as he walked into Holt’s Sweet Shop in Valdosta, Georgia, last week.

“OK,” she responded. Vance then ordered “a lot” of glazed doughnuts, “some sprinkle stuff,” cinnamon rolls, and “whatever makes sense” before he was asked to stop filming.

Though certainly being able to order dessert isn’t the most important pressing political skill, being able to speak to others like a human being sure doesn’t hurt.

A website called KBSF-San Francisco News painted a horrible picture: According to the site, then–California Attorney General Kamala Harris hit a 13-year-old girl with her car in 2011, fleeing the scene before she could be caught or identified. The site included a video, credited to KBSF-TV, of a young woman in a wheelchair—the alleged victim, Alicia Brown—recalling the harrowing moments after their vehicles collided.

Except none of it appears to be real.

There is no KBSF-TV in San Francisco, and, according to a BBC Verify investigation, the original website that published the story was registered less than two weeks ago. The photograph attached to the article, which supposedly depicted the crash itself, was actually snapped in Guam in 2018. And the video of Brown—whom the article and video misname several times—also appears to be a deepfake. The x-ray images of Brown’s spine, allegedly taken after the accident, can be traced back to medical journals that have no relation to the supposed crash.

Strangely, it’s not the only recent instance of a wildly fabricated story taking root against Democrats. Behind the operation is John Mark Dougan, a former Florida cop who has since relocated to Moscow to work full-time inventing fake news sites in an effort to spread misinformation among American voters ahead of the 2024 election, according to the BBC.

Another site launched by Dougan, The Houston Post, accused the FBI of illegally wiretapping Donald Trump’s Florida resort, Mar-a-Lago. Other sites bore equally American names, including the Chicago Crier, Boston Times, and DC Weekly. According to the BBC, most of the stories posted on the sites were not necessarily fake, but rather poor copies of actual news items that had been reworked by A.I. engines. Some of the articles still sported the user’s instructions to the bot at the bottom of the text, at the time of the BBC’s investigation: “Please rewrite this article taking a conservative stance.”

“Russia will be involved in the U.S. 2024 election, as will others,” Chris Krebs, who oversaw election integrity during the 2020 presidential election as director of the U.S. Cybersecurity and Infrastructure Security Agency, warned the BBC.

“We’re already seeing them—from a broader information operations perspective on social media and elsewhere—enter the fray, pushing against already contentious points in U.S. politics,” he said.

Many Republicans would be fine with, and even hope for, Donald Trump’s defeat on Election Day, according to a report from Politico.

Some of the GOP’s elected representatives and commentators don’t want a second Trump term, fearing a shift away from fiscal conservatism and free-market economics, disagreeing with his mercurial stances on in vitro fertilization and abortion rights, and seeing his foreign policy stances as dangerous, the report states.

“There’s a lot of anxiety about what Trump does to Republican ability to win in 2028—and what he also may do to the party in terms of policy long-term,” one of these conservatives said to Politico. “There is just this concern that like, ‘OK, if the party just goes in that direction, then what kind of party is it going forward? And can conservatives, then, have a home going forward?’”

According to Politico, it’s not only Never Trumpers who would be fine with the convicted felon losing, but also some of the leaders in the party’s mainstream who don’t want to oppose Trump publicly but who see a Trump loss as a chance for the Republican Party to move on from the Trump era.

“I think a lot of old-school conservatives might hope that if he loses, there’s an opportunity to just completely forget the last eight years happened,” the same conservative leader said. “I think this battle’s coming in the party no matter what.”

But even if Trump loses, the GOP may not be able to move on. He could still get involved in politics with a simple Truth Social post or phone call from Florida, or he might want to run for president a fourth time in 2028. He would have to lose big to also hurt his stature and diminish his future political prospects, and to undercut his inevitable claim that yet another election was stolen from him. 

There’s also the fact that the MAGA ideology Trump created will persist even without him, which would still give many Republican leaders headaches. Trump’s acolytes in Congress, like Marjorie Taylor Greene and Matt Gaetz, will probably still be around, along with devotees in state politics around the country. The Republican Party may be stuck with Trumpism, even if Trump is defeated in November.

When it comes to targeting and correcting misinformation on social media, X users are totally on their own—even, or maybe especially, when that misinformation is coming from Elon Musk, the company owner.

On Monday, Musk shared an A.I.-generated image of Vice President Kamala Harris dressed in a red uniform with a hammer and sickle insignia, the symbol of the Soviet Union.

“Kamala vows to be a communist dictator on day one. Can you believe she wears that outfit!?” Musk captioned the image that he distributed to his 196 million followers.

Musk was responding directly to a post made by Harris’s official account that misquoted Donald Trump from a December town hall, in which Trump said he wouldn’t be a dictator “except for Day One.” And yet, regardless of Musk’s political messaging, his decision to broadcast a realistic, fabricated image of the Democratic presidential nominee to millions of Americans is troubling—especially considering that the site’s content safety net, Community Notes, was conveniently not working for the misleading post.

Comments underneath Musk’s post attempted to serve their own community note, given the failure of the site’s moderation services.

“COMMUNITY NOTE: This is an AI generated photo and misinformation,” wrote one user who received 23,000 likes on their comment.

Others were highly critical of how Musk was leveraging his massive platform.

“You don’t think this type of extreme manipulation at best, flat out lie at worst isn’t dangerous coming from the richest person on earth that happens to own one of the largest platforms? Doesn’t all the money and power come with more responsibility?” wrote former Florida Senate candidate Mike Harvey.

“Are you testing community notes?” asked political commentator Ed Krassenstein.

The billionaire purchased the social media behemoth for $44 billion, with the help of massive bank loans. Under his control, Musk has introduced radical changes to the site, including laying off 75 percent of its employees, crippling its verification system, and changing the algorithm to promote more advertisements, irrelevant content, and antisemitism. Over the weekend, major stakeholders in X began to share their discontent with Musk’s leadership, arguing that the 53-year-old and his spontaneous decisions had created a “tremendous amount of wealth destruction” for the site’s investors.