Truth Social sinks to near-record low after Trump returns to posting on X

Former President Donald Trump began posting on the platform formally known as Twitter again on Monday, just hours before he was scheduled to do an interview with X CEO Elon Musk.

However, Trump's return to the social media website that propelled his 2016 presidential campaign did not do any favors to the share price of the parent company of his own Truth Social media platform.

Shares of Trump Media and Technology Group sunk by more than five percent in trading on Monday and, as of this writing, they are trading in the $24 range.

This represents a near record low for Trump Media shares, which bottomed out in April trading at under $23 per share before rebounding for a brief time.

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The latest downturn in Trump Media shares came days after the company reported a net loss of $16 million in its fourth-quarter earnings, which also showed a decline in overall revenue for the company.

In total, Trump Media generated only $836,900 in revenue for the quarter, a year-over-year drop of 30 percent from the same period in 2023.

Trump Media surged to $71 per share shortly after it began publicly trading earlier this year, but it quickly sank after the company issued its first-ever earnings report.