Former President Donald Trump’s supporters gathered at Mar-a-Lago to celebrate the public listing of his social media firm, Trump Media and Technology Group. Despite the festivity, the company’s stock value continued to decline, prompting concern among investors. At the event, the atmosphere was lively with prominent figures like right-wing radio host Sebastian Gorka, actor Jon Voight, and country singer Lee Greenwood, who performed his hit song “God Bless the USA” alongside Trump.
During his speech, Trump assured investors that the company had over $200 million in cash reserves, emphasizing its liquidity. However, the mood on Truth Social, Trump’s social media platform, was less optimistic, with users expressing disappointment over the stock’s performance. Despite the financial challenges, Trump loyalists have shown unwavering support for the company, keeping its stock afloat amidst speculation and skepticism from investors who believe the shares will continue to plummet.
While Truth Social’s parent company’s stock has dropped significantly since its public listing, Trump’s followers remain hopeful and are encouraging each other to stay faithful. Some users believe that the Mar-a-Lago event indicated a turning point for the company, fueling anticipation for potential developments. Amidst legal battles between Trump and his co-founders over share ownership, retail investors are doubling down on their support for the company, expressing confidence in its growth potential despite the current setbacks.