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Trump Media & Technology Group (TMTG), the company behind Truth Social, saw its stock fall sharply in early April 2024. On April 5, shares dropped nearly 9% and were down almost 25% over the preceding five days, trading at about $42 at the time. Those are historical figures from April 2024, not a current quote.
What happened to Truth Social’s stock?
Truth Social itself is not the publicly traded company. TMTG operates the platform, and its shares trade on Nasdaq under the ticker DJT. The company began trading under that ticker after its business combination with Digital World Acquisition Corp. closed on March 25, 2024, according to its SEC filing.
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In an April 5, 2024 report, Futurism said DJT fell nearly 9% that day and had lost almost 25% over the prior five days, reaching about $42 per share. These figures describe the market around the report’s publication, not the stock’s price or performance today.
Why was DJT falling?
The company disclosed a large 2023 loss
TMTG’s 2023 results were a significant part of the immediate news context. The company reported $4.1 million in revenue for the year ended December 31, 2023, up from $1.5 million in 2022, alongside a net loss of $58.2 million. The Associated Press reported that DJT fell more than 21% on April 1, 2024, after the results were disclosed. The company’s SEC annual filing contains the financial figures; the timing and share-price reaction were reported by the Associated Press.
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The filings do not explain every day’s price move
The April 1 decline followed the results disclosure, while the April 5 report described a further slide across the week. That sequence provides context, but it does not establish that the financial results alone caused every change in the share price. Share prices can move for multiple reasons, and the available reporting does not isolate the effect of each one.
What did Trump say as the stock fell?
Trump said he would keep using Truth Social and “double down” on the platform. In a post quoted by Futurism, he wrote: “When I ENDORSE a politician on TRUTH, they almost ALWAYS WIN. If it didn’t work, or properly get the word out, I wouldn’t use it — But it does work, and work really well — And the fun is just getting started!!!” The statement expressed his defense of the platform; it did not address TMTG’s financial results or establish the company’s future performance.
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The same report quoted IAC and Expedia chairman Barry Diller saying, “I mean, it’s ridiculous,” followed by, “The company has no revenue.” That was Diller’s characterization, not a literal accounting figure: TMTG reported $4.1 million in revenue for 2023.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the April 2024 numbers do—and do not—tell investors
The reported price declines and financial results answer different questions. The share-price figures describe how DJT traded during a short period in April 2024; the revenue and loss figures describe TMTG’s results for the full 2023 fiscal year. A stock’s price per share also cannot, by itself, show whether one company is more valuable than another. Comparisons require context such as the time period, share count or valuation, and financial results for comparable periods.
TMTG’s business and public disclosures have changed since that April 2024 episode. Later filings describe Truth Social and Truth+ and other company activities, while its official news page has listed later results and a filing for a proposed merger with TAE Technologies. Those later developments do not change what the April 2024 price reports meant, and a proposed merger filing is not evidence that a merger has closed. No current share price or investor return can be inferred from the 2024 figures.
Sources: Futurism’s April 5, 2024 report; the SEC transaction filing and SEC 2023 annual filing; the Associated Press report of April 1, 2024; TMTG’s investor-relations site and official news page.
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