'Not normal' Truth Social shares are in 'extreme turbulence': CNN reporter

The stock price of the parent company of President Donald Trump's Truth Social platform took yet another beating in trading on Monday, and CNN financial reporter Matt Egan said it was shocking to see how much the stock's value had fluctuated over the last two weeks.

"This is amazing," he said when remarking on the share prices of Trump Media. "This stock is moving around so much that it makes bitcoin look boring, right? One day, there's a gravity defying spike the next day, it crashes back to earth."

He then outlined how unprecedented it was to have a major party political candidate have so much of their net worth tied up in what appears to be a meme stock.

"This is not normal," he said of the stock's wild fluctuation. "I mean, if this were a weekly stock move or a monthly stock move, maybe, but not every single day. And remember the higher the stock price goes, the richer Donald Trump is, at least on paper. He's the dominant shareholder. When you look back to March 27, Trump's stake was valued at $5.2 billion, but the stock has gone down, down, down since then. It's now valued at $2.9 billion. So a loss of $2 billion in short timeframe. So we have this bizarre situation where the net worth of the former president of the United States, and potential future president of the United States, is linked to something that's moving around like it's inside of a pinball machine."

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He also explained exactly why the stock had become so volatile.

"It is in extreme turbulence and one of the reasons is because the company is being valued in the billions of dollars even though it generates very little revenue and its main product, Truth Social, is shrinking in terms of the number of users," he said. "So I talked to NYU professor Michael Ohlrogge, and he told me, 'This stock seems to be completely untethered to fundamental value.'"

Watch the video below or at this link.

Truth Social shares in 'extreme turbulence' and 'untethered from fundamental value'www.youtube.com