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Donald Trump’s social media platform Truth Social landed last week on the stock market as a publicly traded company with a whole lot of hype—share prices rocketed as high as $79, instantly adding as much $6.2 billion to the former president’s wealth, at least on paper. But then reality hit. On Monday, Truth Social, which trades under the ticker symbol DJT, posted its financials from last year. They are grim. The stock went spiraling down immediately. By the end of trading on Monday, the stock had closed at $48.66, and Trump had lost an estimated $2.4 billion of wealth since the stock’s high-point last week.

According to the company’s new filings SEC filings, it earned just $4 million in revenue last year. And in the fourth quarter, it........

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