Trump Stock Gets Devastating Post-Election Blow as Insiders Sell Out

Even small-time investors are looking to peel out from their Truth Social shares as the stock continues to tumble in the aftermath of the election.

Stock in Trump Media & Technology Group has failed to pick up steam since its last peak at $51.51 a share near the end of October, causing some users—who had banked on a bigger postelection spike—to panic about the future of an investment irrefutably tied to Donald Trump’s personal fortune.

In the days since the last spike, TMTG has lost nearly half of its value, causing some users on a Truth Social investor board to lament, “The fact is we are in trouble.”

The company, which was conceptualized after Trump was banned from traditional social media outlets over his followers rioting through Congress on January 6, has plainly struggled to generate revenue. A financial statement from Trump Media released on Election Day shared bleak ratios: The company had lost $363 million during the first three-quarters of the year and generated just $2.6 million in revenue. That was down 23 percent from last year, reported The Washington Post.

Earlier this month, Trump Media & Technology Group director Eric Swider sold all the stock he owned directly in the company, offloading 136,183 shares at $28.23 per share, a total value of more than $3.8 million, according to a filing with the Securities and Exchange Commission. Swider still holds a little more than 18,000 shares in TMTG via an LLC, Zach Everson reported last week in his 1100 Pennsylvania newsletter.

Swider had been the CEO of Digital World Acquisition Corporation, which merged with TMTG in March when the media company was on the verge of running out of cash. The deal was seen as a major win for Trump, infusing $300 million into the company and keeping Truth Social up and running. The merger also helped the media entity make a particularly strong debut on the stock market with a valuation of nearly $8 billion, sending the worth of Trump’s personal stake in the company skyrocketing to upward of $3 billion at a time when he was facing nearly $500 million in legal expenses.

And Swider wasn’t the only one to offload his Trumpian assets. Also on November 8, TMTG’s chief financial officer, Phillip Juhan, dumped 320,000 shares at a price of $30.65 apiece and, after the weekend, sold another 64,000 shares at a price of $32.97 each, leaving him with just over 265,000 shares in the social media endeavor. General Counsel and Secretary Scott Glabe also dropped shares, though significantly fewer—15,917 shares at $32.19 each.

Trump—who owns roughly 57 percent of the company with 115 million shares—has insisted for months that he has no intention of selling off his stock.

Donald Trump’s transition team has begun quietly assembling a list of alternatives to Pete Hegseth, Vanity Fair reported Wednesday.

The Fox & Friends host has been the subject of immense scrutiny since he was nominated last week to head the Department of Defense, after allegations surfaced that Hegseth had sexually assaulted a woman at a Republican event in Monterey, California, in 2017.

Hegseth’s lawyer said the claims had already been investigated and nothing had come of it, but soon after, it was reported that Hegseth had agreed to a settlement with the accuser in return for her signing a nondisclosure agreement.

Two Republicans close to Trump told Vanity Fair that they were preparing a contingency plan in case Hegseth’s nomination fell apart.

“It’s becoming a real possibility,” one of the sources told the magazine.

“People are upset about the distraction,” the second source said. “The general feeling is Pete hasn’t been honest.”

A MAGA insider insisted that although Hegseth had been vetted, the allegation hadn’t come up. Susie Wiles, Trump’s chief of staff, was briefed on the allegations the day after Hegseth’s nomination was announced. The claims were so serious that Wiles and a lawyer for Trump’s team approached Hegseth about them the following day.

Hegseth’s nomination has also garnered backlash over his misogynist and anti-Muslim statements, as well as his reported ties to extremist Christian nationalist figures and tattoos featuring slogans used by white nationalist groups.

Representatives Marjorie Taylor Greene and Nancy Mace are bringing out the rhetorical big guns to knock down Representative-elect Sarah McBride.

Over the course of the week, Greene has accused McBride—the first openly transgender person to be elected to Congress—of being mentally ill and partaking in a “war on women.” Now Greene is claiming that a trans woman’s mere presence in a bathroom is tantamount to assault.

“I’m not kidding you,” Greene said Tuesday on Steve Bannon’s War Room. “It is like a physical assault for a man to come in, charging into our private places, bathrooms, locker rooms, our gyms, places that are designated specifically for women only.”

A 2018 study from the Williams Institute at UCLA School of Law found that bathroom-related nondiscrimination laws pose practically no risk to women and that claims to the contrary are little more than myths that are “not empirically grounded.”

Mace also elevated the assault claims, arguing Tuesday night on Fox News that “the idea of a man walking into a locker room where I’m changing, is actually—it feels like assault.”

Greene and Mace’s purported support for women’s safety abruptly ends with their fizzling fears over transgender rights, however. The pair of MAGA acolytes are vehement supporters of Donald Trump, who famously said that he could grab women “by the pussy” and is a judge-determined rapist, convicted adulterer, Jeffrey Epstein confidant, and proud abortion rights destroyer.

On Tuesday, Mace introduced a resolution that would ban trans women from using the restroom that corresponds with their gender identity in the U.S. Capitol. The attention-seeking South Carolina representative openly acknowledged that the stunt was a direct attack on McBride—again, who will be the lone transgender woman in Congress—telling reporters on Monday that it was “that and more.”

“Sarah McBride doesn’t get a say. I mean, this is a biological man,” Mace said, adding that the newly elected Delaware congresswoman “does not belong in women’s spaces, women’s bathrooms, locker rooms, changing rooms, period, full stop.”

McBridge had her own response to the resolution, describing it in a statement as a “blatant attempt from far right-wing extremists to distract from the fact that they have no real solutions to what Americans are facing.”

“We should be focused on bringing down the cost of housing, health care, and child care, not manufacturing culture wars,” McBride said. “Delawareans sent me here to make the American dream more affordable and accessible and that’s what I’m focused on.”

Senator Lindsey Graham doesn’t care what the ethics report on Matt Gaetz says; he doesn’t think alleged sexual misconduct should knock Donald Trump’s nominee out of the running for attorney general.

CNN’s Manu Raju asked Graham Tuesday for his response to the “serious allegations of sexual misconduct” against Gaetz. Before Raju had even finished speaking, Graham was already shaking his head.

“Nobody should be disqualified from a media report,” Graham replied.

The House Ethics Committee is set to vote Wednesday on whether to release the report on its yearslong ethics investigation into Gaetz over allegations of sexual misconduct, including sexual conduct with a minor. It was previously reported that two women testified that Gaetz had paid them for sex, and one testified that he’d also had sex with her underage friend, per the lawyer representing the women. Even if the report confirms this, it apparently wouldn’t be reason enough for Graham to abandon ship.

Gaetz called Graham as part of his effort to consolidate Republican support for Trump’s nominee, CNN reported. Gaetz and Trump’s nominee to head the Department of Defense, Pete Hegseth, have been on the offensive to shore up support for their respective unsavory nominations. Hegseth reportedly paid a woman who accused him of sexually assaulting her as part of a nondisclosure agreement. Both Hegseth and Gaetz have denied any wrongdoing.

Last week, Graham admitted that it might not be easy for Trump’s nominees to get approved by the Senate. “Every nominee will have to acquit themselves well during the confirmation process by answering difficult questions and having their actions scrutinized,” Graham said.

Donald Trump has decided to nominate TV personality Dr. Mehmet Oz to serve as the Centers for Medicare and Medicaid Services administrator.

Trump issued a statement Tuesday announcing the move, saying, “There may be no Physician more qualified and capable than Dr. Oz to Make America Healthy Again.”  

Oz ran for the Senate in 2022 in Pennsylvania, earning Trump’s endorsement against Democrat John Fetterman, but lost even after Fetterman suffered a stroke resulting in unfavorable media attention. Oz’s bumbling Senate campaign was full of gaffes, including the inconvenient fact that he was a resident of New Jersey and not the Keystone State.  

Prior to all of that, Oz was best known for peddling “miracle” medical cures and quack diet solutions on daytime television, which ultimately led to him being dressed down at a congressional hearing. Oz has tried to explain all of this away by claiming that he is an entertainer, not a doctor, which certainly undercuts whatever credibility Trump thinks he will bring to this new government position.  

Trump and Oz know each other at least going back to the president-elect’s first campaign, when he appeared on Oz’s TV show for a softball interview in 2016 and deflected questions about his own health while taking subtle jabs at his opponent Hillary Clinton’s health.  

After listing Oz’s résumé, which obviously made no mention of his medical transgressions, Trump’s statement Tuesday closed with, “I have known Dr. Oz for many years, and I am confident he will fight to ensure everyone in America receives the best possible Healthcare, so our Country can be Great and Healthy Again!”

With Oz and Robert F. Kennedy Jr., a noted anti-vaxxer and medical conspiracist, both taking on health care leadership positions in Trump’s administration, the next four years may lead to extensive damage to American public health.  

JD Vance deleted his social media meltdown calling a Donald Trump ally a “mouth breathing imbecile” Tuesday, after she scolded him for not showing up to his job—and defied the president-elect in the process.

As the Senate Democrats race to approve President Joe Biden’s remaining judicial nominees, before they lose the majority at the beginning of next year, Republicans have become anxious that more Republican senators aren’t showing up to vote against the president’s picks.

Grace Chong, COO and CFO of Steve Bannon’s War Room, a far-right media company, posted on X Tuesday morning urging Vance and Senator Marco Rubio to “show up and do your one freakin job!!”

Shortly after that, Trump made a similar post on Truth Social. “The Democrats are trying to stack the Courts with Radical Left Judges on their way out the door. Republican Senators need to Show Up and Hold the Line—No more Judges confirmed before Inauguration Day,” Trump wrote.

Vance couldn’t take the heat.

“Grace Chong is a mouth breathing imbecile who attacks those of us in the fight rather than make herself useful,” Vance fumed in a post on X, less than 30 minutes after Trump’s post on Truth Social. “If I had shown up to the vote in question, the nominee would have succeeded 49-46 rather than 49-45. If every Republican had showed up, Fetterman would have come in and the Democrats still would have gotten their nominee across.

“I tend to think it’s more important to get an FBI director who will dismantle the deep state than it is for Republicans to lose a vote 49-46 rather than 49-45,” he wrote, also casually burying the news that the Trump administration will try to kick out Christopher Wray long before his term is up.

Within an hour, both Chong and Vance had deleted their posts—but it was too late. The vice president-elect had already demonstrated that while he may understand how math works, he doesn’t have the slightest idea how to lead his party. By Vance’s own logic, it makes no difference whether any of his Republican colleagues do their jobs and show up to vote either. It’s also entirely likely that Vance had the unhappy realization that his childish temper tantrum had undermined Trump’s explicit demands.

There’s a new bigot to know in Florida, and she wants to replace Matt Gaetz in Congress.

Florida Republican state House Representative Michelle Salzman announced her candidacy on X Tuesday, writing, “I am making my intentions to run for Congress by filing today I want to do what is best for our country and helping President Trump with the Make America Great Again Agenda!”

Gaetz resigned from Congress last week, hours after Trump picked him for his attorney general and just days before a House Ethics investigation into his alleged sexual misconduct was set to wrap up.

Salzman, while not facing allegations of sex trafficking and sexual misconduct, seems to be cut from the same cloth as Gaetz in other ways. The Republican state representative is known for letting a toxic landfill fester in Wedgewood, Florida, because, “They’re Democrats. They vote Democrat.”

She posts weird, grainy, and often racist memes on Twitter. She was accused of calling the Florida House’s lone Black Republican a “token.” And perhaps most notably, she has made despicable comments toward Palestinian people.

Last fall, Democratic state Representative Angie Nixon was arguing for a bill in favor of a cease-fire in Israel’s war on Palestine. “We are at 10,000 dead Palestinians. How many will be enough?” Nixon asked the chamber. Salzman grabbed the microphone and replied, “All of them.”

Salzman is the second Republican to announce her bid to take Gaetz’s seat. Florida will hold its congressional special elections once Governor DeSantis sets a date.

In response to calls for the House Ethics Committee to release the results of its investigation into former Representative Matt Gaetz, Representative Marjorie Taylor Greene says everything should be released. 

The far-right Georgia congresswoman posted on X Tuesday morning in an attempt to defend Donald Trump’s choice of Gaetz as attorney general. Gaetz is alleged to have trafficked in and had sex with an underage girl at a 2017 party, and tried to bury the committee’s report by resigning from Congress last week.  

Greene wants every House Ethics Committee report released, including sexual harassment and assault claims, as well as reports that House Republicans probably don’t have access to, such as “the entire Jeffrey Epstein files, tapes, recordings, witness interviews.”

Transparency is a worthy goal, but Greene is most likely trolling with her post. House Republicans aren’t likely to listen to her “all or nothing” approach, even if House Republicans rally to support Gaetz. Right now, Republican senators are still not entirely on board, and the incoming Senate will likely have just a three-seat GOP majority. Still, they should: Releasing every House Ethics report would be a victory for transparency and, well, ethics. 

With each day, worse details about Gaetz emerge, with a new report Monday revealing that Gaetz allegedly paid two women for sex, according to the lawyer who represented them before the Ethics Committee. Even Fox News doesn’t think the former Florida congressman has a shot. But Greene and her MAGA allies on Capitol Hill will keep pushing as long it is what their dear leader Trump wants.  

The Senate is scheduled to vote on joint resolutions of disapproval to block weapons sales to Israel on Wednesday, and protesters have filled the Hart Senate Office Building in Washington calling on senators to support the resolutions. 

Several protesters donned red T-shirts reading “Stop Arming Israel” and “Fund Housing, Not Genocide” as police confiscated banners colored black, red, and green for Palestine, displaying slogans such as “Fund Education, Not Genocide.” 

Protests also took place outside of the building, as participants chanted “1. We are the people. 2. We won’t stop fighting. 3. For Gaza’s freedom. Now, now, now!” even as other protesters were arrested.  

Senator Bernie Sanders introduced the resolutions in September, saying that “we must end complicity in Israel’s illegal and indiscriminate bombing campaign, which has caused mass civilian death” in a letter to his fellow senators. As of Tuesday, seven senators, including Sanders, have expressed support for the effort.  

Israel’s brutal war in Gaza has killed more than 44,700 Palestinians, including at least 17,492 children, and injured more than 104,008. These are all likely undercounts, as the actual death toll could exceed 186,000, according to a July study from the medical journal The Lancet. Thousands of bodies are trapped under rubble in Gaza, and official figures don’t take indirect deaths into account, such as those due to the destruction of infrastructure, including hospitals and food distribution systems.  

Last month, 99 health workers who worked in Gaza sent President Biden a letter saying that they had “witnessed crimes beyond comprehension,” urging a U.S. arms embargo on Israel. The U.S. provided 69 percent of Israel’s conventional weapons imports between 2019 and 2023, and gives Israel $3.8 billion in military aid every year as part of a 10-year agreement. 

The Biden administration has refused to entertain even the possibility of halting weapons aid or using it as leverage for a cease-fire, even as Israel’s bombing has created a humanitarian catastrophe. The Senate resolutions are unlikely to succeed in stopping weapons shipments to Israel, but they are another reminder of America’s ability to halt the killing even as politicians refuse.  

Rudy Giuliani is trying to get the date of his defamation trial pushed back so he can attend the inauguration of his former client Donald Trump.

A trial to enforce Giuliani’s payment to Ruby Freeman and Shaye Moss, two poll workers in Georgia’s 2020 election whom Giuliani was found guilty of defaming, is set to begin on January 16, just a few days before Trump’s inauguration on January 20.

In a letter filed Monday, Moss and Freeman’s attorney Aaron Nathan urged the judge to deny Giuliani’s request, and hit back at Giuliani’s attorney Joseph Cammarata’s implication that there would be “no harm to the Plaintiffs by a delay of a few days.”

Cammarata, who stepped into the role less than a week ago after Giuliani’s previous lawyers quit, had said that Giuliani had “plans” to be “present” at the presidential inauguration. “In Defendant counsel’s words, ‘there are inauguration events planned for, I believe, January 16, 17, 18, 19, and 20, 2025,’” Nathan wrote.

Nathan also argued that Giuliani’s former lawyers’ requests to withdraw from the case should be denied. The legal duo, Kenneth Caruso and David Labkowski, had argued that they were entitled to walk away from the case, citing a New York rule that grants attorneys the ability to withdraw when a client “insists upon taking action with which the lawyer has a fundamental disagreement.”

Giuliani owes Moss and Freeman close to $150 million for defamation and has delayed turning over any of his assets by attempting to file for bankruptcy and claiming he didn’t know where his assets were. Last week, Giuliani turned over the first of his assets to Freeman and Moss: his luxury watches, a diamond ring, and a 1980 Mercedes-Benz.

But it seems that Giuliani is still hoping Trump will swoop in and save him from the expensive consequences of his own actions.