Trump Net Worth Passes $400M After TMTG Stock Rises
The Facts
Former US Pres. Donald Trump's net worth increased to more than $400M Thursday after Truth Social parent company Trump Media & Technology Group Corp. (TMTG) stock rose 8% to just shy of $49 a share.
The stock rise comes after TMTG Chief Executive Officer Devin Nunes in a securities filing requested multiple GOP chairs of House committees investigate several financial firms that are short selling the company's shares.
The Spin
Pro-Trump narrative
TMTG is doing all it can through Securities and Exchange Commission filings and potential Congressional action to make sure retail investors who believe in the company don't get exploited by short sellers. By standing up for its investors, TMTG is maintaining the value worthy of anything related to a billionaire businessman who could be the next US president.
Anti-Trump narrative
TMTG is a meme stock and, as is the case with all meme stocks, there's never a rhyme or reason for their success or failure in the early going. In this case, Trump's notoriety could be affecting the stock price. But eventually, all meme stocks settle at a realistic price, and TMTG might not be able to overcome its poor business performance.
