"Trump's Truth Social Stock Surges Amid Meme-Stock Mania"
TL;DR Summary
Meme-stock mania has propelled Trump Media & Technology Group's value beyond that of several S&P 500 companies, with its market cap reaching over $13 billion. Donald Trump's net worth has surged by an estimated $4.7 billion this year to about $7.8 billion, largely due to his 58% stake in TMTG. Retail investors, reminiscent of the GameStop and AMC Entertainment frenzy, have flocked to TMTG, driving its stock price up nearly 80%. Despite the company's minimal revenue and significant losses, speculation and FOMO are likely driving the surge, as buyers of meme stocks tend to prioritize emotion and hype over fundamentals.
- Meme-stock mania makes Donald Trump's TMTG bigger than Etsy, Hasbro Business Insider
- Trump's social media company rises 16% in first day trading gains, but the stock could fall 95%, says an IPO expert Fortune
- Trump Media Options Are So Costly Bill Gross Wants to Sell Them Bloomberg
- Trump's Unbearable Temptation to Dump His Truth Social Stock The New Republic
- Truth Social's stock price is up. Who's investing in Trump's platform? USA TODAY
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