Trump skewered as his biographer warns Truth Social investors will be 'wiped out' if they don't sell now

WASHINGTON, DC: Donald Trump's biographer David Cay Johnston said that investors in Truth Social will eventually be "wiped out" if they don't sell now, as per Raw Story.

During his Saturday, May 25, appearance on MSNBC, Johnston, who has long studied Trump's finances and taxes, was questioned about the latest developments surrounding the former president's publicly traded social media firm.

The host specifically inquired about rumors that during the first three months of 2024, while the stock was still climbing, Trump Media posted a net loss of over $330 million.

Trump's biographer warns Truth Social investors will be 'wiped out' if they don't sell

The host questioned, "How big a problem is this? Can you explain for some layman's terms, quickly, how losing millions on thousands of actual revenue, how that even works? Is that the stock that still has a huge market value? Is it really valuable? There's a lot of questions here."

Johnston answered, "It's not at all valuable. And the people who own it at the current price, if they don't sell out, will eventually be wiped out."

He added, "The 300-plus million is not a cash charge, but even so, the company is losing money hand over fist and its revenues are barely in the millions of dollars."

He further stated, "So there's no support here for a company worth four, five, six, at one point $8 billion. This is all fans of Donald Trump and others hoping to exploit the company and in some cases to sell it short so they can collect when the price falls to near zero."

Internet trolls Donald Trump after David Cay Johnston's statement

Many people online trolled Donald Trump as David Cay Johnston said investors in Truth Social will eventually be "wiped out" if they don't sell now.

A user posted on social media platform X, "Truth is everything trump touches dies" while one added, "No doubt, it happened with the last DJT stock. Only this will fail 10x faster. It's all a fraud."

A person also stated, "Anyone “investing” in Truth Social or any other Trump business should have known exactly what they were getting into and deserves to lose every penny" whereas one mentioned, "They deserve it!!!!!"

A user also wrote, "Trump, himself owns 64% of the shares. The rest are obviously idiots" while one stated, "Trump's Truth Social is losing money."

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.