How can Donald Trump’s loss-making Truth Social be worth $9bn?
by Alex Hern UK technology editor from on (#6KNBZ)
The rightwing social network's flotation, supported by fans of the ex-president, makes it look like part of the meme stock' phenomenon
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Donald Trump's social network went public on Tuesday and quickly achieved a valuation of almost $8bn (6.3bn), a gain of more than 15% on its initial public offering (IPO) value. Shares rose again in volatile trading on Wednesday, rising 14% and valuing it at $9.6bn. That enormous success has raised questions, and not all of them are easy to answer.
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