Donald Trump's media company is dying a painful death, as the stock price for Trump Media & Technology accelerates its death spiral. The stock plunged even further as markets opened on Thursday, and the company has now lost almost half of its value since initially going public. The convictions against Donald Trump are a leading culprit, but the fact that the company can't seem to turn a profit is also weighing heavy on investors' minds. Ring of Fire's Farron Cousins explains what's happening.
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.
You know, if there's one kind of story I love covering the most here at, uh, ring of Fire or even over at my other channel, fair and Balanced, it's, uh, Donald Trump's Trump media and technology company just absolutely going down the tubes. I am never going to pass up the opportunity to point out how horrible this company truly is, and I already talked earlier in this week about, uh, their stock kind of going down the toilet. Well, guess what? In the few days since I did that story, things have gotten so much worse for the company to the point where $2 billion of the company's value has now been erased because the stock is tanking so badly on Thursday in pre-market moves right before the market even officially opens. It had already lost 16% of its value. Just like early Thursday morning in pre-market moves 16% of its value.
On Tuesday, it lost 10% of its value in pre-market moves. Then another, uh, what was the additional loss it had, uh, uh, uh, 17% later in the day. So this company, Trump Media Technology, they're stuck, which of course had rebounded for a brief period there right before the verdict against him. And ever since then, it's been a horrible rollercoaster that just goes straight to the center of the earth. But, um, it's, it's losing double digits in percentages of its value every day, just every day getting worse and worse. And as I mentioned at the start of this month, like right after the Criminal Conviction company was worth a little over $5 billion. Today, it's worth just a little over $3 billion. And we're not even to the end of the month yet, folks, that's how far it has fallen In three weeks, $2 billion erased off the company's value.
Donald Trump himself has had hundreds of millions of dollars, which I discussed earlier in this week, wiped out from his net worth. This company is absolutely garbage. And here's what's even funnier. Most of this is based solely on the fact that Donald Trump got criminal, uh, criminally convicted, but we're also getting those horrible financial reports, right? Like the company company's just hemorrhaging tens of millions of dollars a month while pulling in only a few hundred thousand dollars a month. As those reports continue to come in, and as the company still fails to attract any kind of meaningful advertisers bringing in real money, it's going to continue to hemorrhage itself. It is going to continue watching its stock go down. The only thing at this point that could save
This company is if Donald Trump pulls off a miracle for himself and wins this year's election. At that point, this stock will go bananas through the roof, probably with advertising as well. Like it will absolutely turn everything around. But that's a big if, if Donald Trump loses this year's election, this company is gonna be dead. Like it will ha ha eventually have to cease to exist probably within the next few years. That's how bad the situation is for it right now, and it doesn't look like there's anything on the horizon that's gonna make it any better. If anything, it's gonna get so much worse after July 11th when Donald Trump gets handed his criminal sentence.