Investors holding stock in Trump Media & Technology Group Corp. can't say they weren't warned that this would happen.
Donald Trump, the former one-term president evicted from the White House after losing the 2020 election, used that company to launch his social media website Truth Social in 2022 after another website formerly known as Twitter banned him in 2021 for his failed effort to overturn a free and fair election.
Elon Musk, the only person on the planet more thirsty for attention than Trump, overturned that ban after he bought Twitter and reshaped it into the disinformation carnival now known as X.
Trump, who had not posted on the website for nearly a year, returned with a vengeance Monday in a flurry of new posts and then a two-hour, glitch-marred ramble fest with Musk that broke no new ground and left the audience with a collective feeling of "what did we just listen to?"
If Truth Social's stock price was a metric for reviewing all that, then Trump seemingly tanked his own company with his return to X. Truth Social's stock, which has been a comical rollercoaster, hit its lowest point in four months during trading Tuesday.
The folks who run Truth Social for Trump always knew this day would come.
The warning has been broadcasted over and over in annual reports, quarterly reports and prospectuses that Truth Social files with the Securities and Exchange Commission (SEC), which regulates the........