‘Bubble will burst’: Seth Meyers skeptical about rising stocks of Truth Social, claims ‘buying spree’ is fueled by Trump supporters
NEW YORK CITY, NEW YORK: The Nasdaq-traded Trump Media & Technology Group, with its DJT ticker symbol, may see its share price soaring at the moment, but Seth Meyers cautioned on the March 28 episode of 'Late Night With Seth Meyers' that this upward trend could be short-lived.
Meyers predicted that there's a likelihood of the company's value facing a significant decline, suggesting that "eventually the bubble will burst".
Meyers mocks Trump's Truth Social stock surge
Meyers highlighted how the company's own SEC filings acknowledge that Trump's legal troubles could negatively impact its value.
Describing the organization as an "abject failure" with declining user numbers, Meyers characterized it as nothing more than "a dumb Twitter ripoff for MAGA trolls".
“Trump’s stock market windfall has nothing to do with the reality of his business and that’s obvious to everyone,” he said, continuing, “It’s just a buying spree fueled by Trump supporters and traders capitalizing on the enthusiasm of Trump supporters."
"I'm willing to bet most of the people investing in this company have never even used Truth Social," he added.
The central product of the Trump Media & Technology Group is the Truth Social platform, where Trump regularly expresses his opinions.
Moving on, the 'Late Night' comedian remarked, "The stock’s value is solely reliant on Trump’s brand", suggesting that Trump supporters are artificially inflating the company's worth.
"And in its own SEC filings, the company admitted Trump could tank the value," he added.
After a couple of news on Trump's bankruptcy, Meyers stated, "The paper value of Trump's stock is wildly divorced from the reality of the underlying business, which is an abject failure. There's a good chance that eventually the bubble will burst."
Trump's Truth Social stock surge sparks skepticism and criticism online
Meyer' statements reverberated across social media channels, triggering a flurry of responses that showcased the diverse perspectives of online communities.
One person wrote, "So...the guy being charged with crimes in NYC for grossly overvaluing his property is now grossly overvaluing his social media site. I guess he learned his lesson."
Another person said, "Truth Social makes zilch. Not worth a trillion dollars."
A viewer expressed, "He got in trouble for lying about the value of his assets, and he gets out of it by using the market to lie about the value of his social media company head explodes."
"All these valuations sound like a scam to me. Just like the stunt with Game Stop. Fool me once, shame on you. Fool me twice, shame on me," another comment read.
"Trump is a master of failing upwards - its truly mind boggling!" said a viewer.
"This is why Seth and his team are the best in the biz. Amazing bit at the end, I love Corrections," praised a viewer.
This article contains remarks made on the internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.
