'Dude needed a teleprompter': Biden trolled as he tries to mock Trump over tanking Truth Social stock

SCRANTON, PENNSYLVANIA: In a blistering campaign speech in Scranton, Pennsylvania, President Joe Biden took aim at his political adversary, former President Donald Trump, ridiculing the dramatic decline in stock prices for Trump Media & Technology Group's Truth Social platform.

Addressing a crowd on Tuesday, April 16, Biden took the chance to poke fun at Trump's business venture, pointing out its rocky performance since its creation.

Biden mocks Trump’s plummeting Truth Social stock

Addressing the gathering, Biden quipped, "You know, I have to say, if Trump’s stock in Truth Social—his company—drops any lower, he might do better under my tax plan than his. Possibly."

Since its initial public offering in late March, stock in Trump Media & Technology Group (DJT) has experienced a precipitous decline, plummeting by a staggering 68 percent.

Despite the initial enthusiasm among supporters, including MAGA-affiliated day traders, the stock rapidly lost momentum.

It reached a peak of $80 per share on its second day of trading. However, by the close of trading on Tuesday, the share price had dropped to just over $22, significantly reducing the company's valuation compared to its promising debut.

Donald Trump, holding nearly 60 percent ownership of the company and possessing over 78 million shares, is at the forefront of the controversy surrounding Truth Social's financial difficulties.

Following the sharp downturn in Trump Media stock in early April, Trump faced the ignominy of being removed from the Bloomberg Billionaires Index, a stark reversal from his recent inclusion spurred by DJT's explosive debut.

Furthermore, Trump's ability to liquidate his shares, irrespective of their current value, remains contingent upon receiving explicit approval from the Trump Media board, effectively curtailing his financial flexibility until September.

Biden's scathing critique of Trump's business misfortune was part of a broader campaign strategy during his visit to Pennsylvania, a crucial swing state.

Emphasizing themes of economic fairness and social welfare, Biden outlined plans to bolster the middle class through initiatives such as expanding the child tax credit, offering credits for new homebuyers, and permanently extending enhanced Affordable Care Act subsidies.

Throughout his address, Biden juxtaposed his vision for America with what he portrayed as Trump's self-serving agenda, alleging that the former president prioritized the interests of billionaire allies over those of ordinary citizens.

“Donald Trump looks at the world differently than you and me,” Biden said. “He wakes up in the morning at Mar-a-Lago thinking about himself. How he can help his billionaire friends gain power and control, and force their extreme agenda on the rest of us.”

Describing Trump as emblematic of failed trickle-down economics, Biden warned against the perils of entrusting the nation's future to leaders beholden to special interests, the Daily Beast reported.

While Biden rallied support in Scranton, Trump found himself embroiled in legal proceedings in New York, a few hours away from the campaign trail.

Trump, who arrived at court earlier in the day for his trial, retaliated against Biden's remarks, accusing him of incompetence and using the trial as a political tool.

“I should be right now in Pennsylvania, in Florida, in many other states, in North Carolina, Georgia, campaigning. This is all coming from the Biden White House because the guy can’t put two sentences together,” Trump said while entering the courtroom.

"He can’t campaign. They are using this in order to try to win an election. And it’s not working that way. It’s working the opposite way,” he added.

Despite Biden's jabs at Trump's financial woes, the former president remained undeterred, continuing his own campaign efforts in Pennsylvania.

Over the weekend, Trump held a fundraiser and rally in the state, where he addressed supporters and decried his upcoming criminal trial, vowing to endure the legal ordeal on their behalf.

“I will be forced to sit fully gagged. I’m not allowed to talk. They want to take away my constitutional right to talk,” he told the crowd in Lehigh County, per AP, adding that he was “proud” to do it for them.

Social media reactions

That said, Biden's joke about Trump's Truth Social stock tanking drew mockery on social media.

"Dude needed a teleprompter to tell that joke? And then he couldn’t even read that right. lol," one posted on X.

"The entire stock market is dropping right now, Joseph. Probably not a great idea to call attention to one of the few things that had gone well under this disastrous administration," another wrote user.

"Sorry, bud. I think a lot of people put money into it just to donate to Trump and use it as a write-off. I don't think they cared if they got it back. They're just tired of being told they shouldn't exist because they disagree with your puppetmasters," a comment read.

"The guy who handed trillions to Wall Street and corporations through pumping their stocks is pretending he’s for the working class," someone else added.

"The 10% Big Guy should let We the People know how The Biden Crime Family uses shell companies to hide money," another user alleged.

The primary election in Pennsylvania is scheduled for Tuesday, April 23rd.

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