Even Trump’s Election Win Can’t Sustain His Garbage Media Stock

Donald Trump’s worthless stock just plunged again, all but wiping out the president-elect’s victory gains.  

Shares of Trump Media & Technology Group, or DJT,  sank on Thursday, after briefly spiking in the hours following the announcement that he’d won the presidency. 

The stock gained nearly 6 percent Wednesday but dropped more than 20 percent in afternoon trading the following day, according to CNBC. This is likely due to profit-taking from investors looking to cash in on Trump’s postelection bump and well aware that without the election to drive Trump’s stock prices, there isn’t much more DJT has to offer. 

Trump Media is a particularly volatile stock because it is tied to a service that no one really uses: Truth Social, currently the epicenter of Trump’s online ravings and not much else. As such, DJT functioned as a meme stock, rising and falling in tandem with Trump’s election prospects. It seems that since the presidential race has finally come to an end, the stock has been rendered useless for now.

In a surprise filing Tuesday, Trump Media reported that it lost more than $19 million in its third quarter this year. The company had only $2.6 million in revenue, while racking up a net loss of $363 million for the first nine months of 2024. 

The same day, DJT’s stock value plummeted as investors furiously traded shares, and trading was temporarily halted five times. 

Trading had previously been frozen in mid-October after a wild trading session caused the stock price to plummet. Frenzied trading in October indicated that investors were looking to ride the stock to some easy gains following Trump’s election victory, and now they have. Any gains the stock saw with Trump’s victory have now been reduced back to nothing. 

California Governor Gavin Newsom has called a special session in the Golden State’s legislature to protect the state’s liberal policies from a Donald Trump presidency.

In a statement Thursday, Newsom warned, “The freedoms we hold dear in California are under attack—and we won’t sit idle.

“California has faced this challenge before, and we know how to respond. We are prepared to fight in the courts, and we will do everything necessary to ensure Californians have the support and resources they need to thrive,” the statement read. Newsom’s office also told the Associated Press the governor and legislators were ready to “Trump-proof” California’s state laws.

Newsom’s statement asked the legislature to give more funding to the state attorney general’s office to fight any federal challenges when it meets in December. California has a lot to safeguard: The state has many laws in place to protect abortion access, including budgeting $20 million to pay for people in other states to come to California for an abortion. The state has also mandated that every new car, pickup truck, or SUV sold in California be electric, hydrogen-powered, or plug-in hybrid by 2035.

During Trump’s first term, the state filed more than 120 lawsuits, and Newsom is preparing for another four years of legal battles, especially with conservatives eyeing anti-climate and anti-abortion measures. Newsom is not alone: Other leaders in Democratic states are also taking measures to safeguard their laws.

New York Governor Kathy Hochul said she and Attorney General Letitia James will be meeting to discuss how to legally protect “key areas that are most likely to face threats from the Trump administration.” These include “reproductive rights, civil rights, immigration, gun safety, labor rights, LGBTQ rights, and our environmental justice.”

Newsom may have good intentions, but he also has bigger ambitions than California and may have eyes on the presidency after Trump’s term is up. Proving himself as a bulwark against the Trump White House would do a lot to improve his national standing. The question is whether Newsom is taking these actions for real or for show, and whether the state’s measures will be effective.

Independent Senator Bernie Sanders’s scathing take on the Democratic Party’s election night losses seriously irked party leaders already licking their wounds.

In a statement Wednesday, the senator from Vermont offered his two cents on the sweeping defeat:

It should come as no great surprise that a Democratic Party which has abandoned working class people would find that the working class has abandoned them. While the Democratic leadership defends the status quo, the American people are angry and want change. And they’re right.

Sanders cited inflation, historically low wages, artificial intelligence, exorbitant prescription drug prices, billions of dollars toward Israel’s “horrific” war on Palestine, and rampant corporate corruption all as issues that the Democratic Party did not adequately communicate to voters, or address at all.

Democratic National Committee Chair Jaime Harrison—previously an aide to Representative Jim Clyburn of South Carolina and then a corporate lobbyist—called Sanders’s take “straight up BS.” 

“Biden was the most-pro worker President of my life time—saved Union pensions, created millions of good paying jobs and even marched in a picket line and some of [Kamala Harris’s] plans would have fundamentally transformed the quality of life and closed the racial wealth gap for working people across this country,” Harrison tweeted Thursday morning.

“From the child tax credits, to 25k for a down payment for a house to Medicare covering the cost of senior health care in their homes. There are a lot of post election takes and this one ain’t a good one.”

Regardless of the merits of Harrison’s defense, there is a clear disconnect between the Democratic Party and the huge swaths of working-class voters who soundly rejected their platform this election cycle. Does it really matter that President Biden stood on one picket line when 67 percent of voters nationwide said the economy has been bad for them under his leadership? 

Biden and Harris, even with policies that help working-class people, still had to defend a status quo that, economically, actually wasn’t great for working-class people regardless of race. That’s a difficult position to be in when your opponent is running on upending said status quo.

Members of Team Biden have anonymously spilled that they wish Vice President Kamala Harris had continued to campaign on the dangers of corporate greed and corruption to counteract her weaknesses on inflation and the economy. According to The Atlantic’s Franklin Foer, a Biden aide told him that the vice president “steered away from such hard-edged messaging at the urging of her brother-in-law, Tony West, Uber’s chief legal officer.” Harris mostly abandoned this angle and instead started campaigning more with billionaire Mark Cuban.  

Whether you think Sanders is right on this or not, it’s clear that it’s time for the Democratic Party to seriously reevaluate its messaging and win back the voters it used to always have.

The immediate aftermath of Donald Trump’s presidential election win is already a bad omen for women and minorities across the nation, who within less than 48 hours have found themselves the subjects of hate campaigns designed to belittle and marginalize them.

“Your body, my choice. Forever,” posted white supremacist, Hitler fan, and far-right political pundit Nick Fuentes hours before the race had even been called in Trump’s favor.

On X (formerly Twitter), supporters of the “grab ’em by the pussy” rapist, convicted adulterer, Jeffrey Epstein confidant, and proud abortion rights destroyer reveled in their own threats against women, openly celebrating what they described as an onslaught of rape on the horizon.

“Women threatening sex strikes like LMAO as if you have a say,” wrote streamer Jon Miller, who later noted that he had successfully removed a community note from the viral post, allowing him to “profit from it.”

A text campaign—and obvious hate crime—issued a threat to students of color across the nation, claiming the recipients had been “selected” as “house slaves” and were due to appear at plantations.

One message shared online demanded that its recipient appear at Abingdon Plantation.

“This is mandatory,” the message read. “Sincerely, Trump administration.”

Another iteration of the campaign reportedly targeted Black public school students at South Western High School in Pennsylvania, which the principal described in a notice to parents as part of a “nationwide spread of AI generated text messages.”

But not all of the vitriol took place online. Activists celebrating Trump’s win overtook Texas State University at the school’s San Marcos campus, raising signs that read, “Women are property,” “Homo sex is sin,” and lists that designated women and slaves under “Types of Property.”

Meanwhile, American women in digital spaces spent the hours since Trump’s win musing about joining South Korea’s 4B movement as a counterprotest to the developing infringements on their personal autonomy. The guidelines of the voluntary movement involve saying “no” to dating or marrying men, having sex with them, and giving birth.

Rudy Giuliani tried out a new legal defense on Thursday, arguing in a Manhattan courthouse that he couldn’t possibly hand over his assets to Ruby Freeman and Shaye Moss, a pair of 2020 Georgia poll workers whom he had repeatedly defamed, because he simply didn’t know where they were.

At a hearing, U.S. District Judge Lewis Liman said that the idea that neither Giuliani nor anyone else in the world has knowledge about where his assets are was “farcical,” reported Reuters.

“If he doesn’t comply, then I’m sure that I’m going to get a motion for contempt,” Liman said. “He’s not going to be in contempt if he’s made efforts and it’s impossible to comply with the order, but that’s the standard that he’s going to be held to.”

Aaron Nathan, an attorney for Freeman and Moss, also noted that it appeared Giuliani had been shuffling his assets around, opening new bank accounts and creating limited liability companies.

“It’s troubling that we learned about it on Monday for the first time,” Nathan said.

Those assets would include Giuliani’s Mercedes convertible, which he was seen driving in Florida on Election Day, making it a little difficult to argue he doesn’t know where it is.

Another asset is his Manhattan penthouse, a famously immovable object, which Giuliani was ordered to hand over within seven days to the mother-daughter duo. The lofty apartment would have partially satisfied the nearly $150 million in damages that the disbarred attorney was supposed to cough up after losing his defamation case.

Giuliani’s attorneys also argued that Freeman and Moss were being “vindictive” in repossessing certain kinds of assets, including a watch that was once owned by Giuliani’s grandfather.

“Oh come on, that’s ridiculous,” Liman said, adding that it didn’t matter if the former mayor of New York considered the watch an heirloom. “The law is the law.”

Amazingly, the $148 million debt is just the tip of the iceberg for Giuliani’s legal woes. Over the past year, the former Trump attorney unsuccessfully filed for bankruptcy, lost his accountant over his insurmountable debts, begged Donald Trump for help settling his seven-figure legal fees (he refused), had his WABC radio show canceled for spewing 2020 election lies, and miserably started his own coffee brand, “Rudy Coffee,” in an effort to funnel in some extra cash. He ultimately lost his bankruptcy case due to his outlandish spending habits, with the presiding New York judge branding the former city mayor a “recalcitrant debtor.”

Giuliani is also under the gun for a lawsuit from his former legal representation, who accused him of failing to pay his bill and allegedly only dishing out $214,000 of nearly $1.6 million in legal expenses. Giuliani, meanwhile, claimed he was stiffed by his favorite client, Trump, to the tune of millions of dollars.

But wait, there’s more: The MAGA henchman is also one of 19 co-defendants in the Georgia election interference case and was named in April in an Arizona indictment charging another slew of Republican officials and Trump allies for their alleged involvement in a scheme to overturn the state’s 2020 presidential election results. In October, an Arizona judge torched a legal filing Giuliani made in the case, ruling that the ex–Trump aide had “not one scintilla” of evidence to question the legitimacy of a grand jury assigned to his lawsuit.

But if the ex–Trump attorney can drag out his legal woes for long enough to obtain a pardon from Trump during the MAGA leader’s forthcoming second administration, he may not have to pay up at all.