Stock Tied To Trump’s Truth Social Plummeted After It Was Reported Elon Musk Was Officially Buying Twitter

Truth Social, the social media platform soft-launched in February by Donald Trump, has not, to it lightly, been a hit. Despite his staff’s attempts to spin it as somehow a win, it’s not. No one uses, not even the former president that owns it. That’s fine, because if people were using it, they’d probably be annoyed it was crashing regularly. It couldn’t even score a win the day Twitter, the world’s social media king, was bought by the guy trying to make questionable brain implants.

As per CNBC, Digital World Acquisition Group, the blank-check company set to take Truth Social public, saw its stocks fall on Monday, shortly after it was announced Elon Musk was officially purchasing Twitter. The stocks fell about 13% in a single day. Indeed, it’s not been a great year for the company, with stocks falling precipitously for the last two months.

Will the continuing bad news make Trump decamp for Twitter, which could reinstate his account under Musk? At least now it won’t.

“No, I won’t be going back on Twitter,” Trump told CNBC, saying he was”disappointed by the way I was treated by Twitter.” Instead, he’ll be “on Truth Social within the week,” having all but neglected it thus far. Twitter permanently suspended back in early January 2021, shortly after the Jan. 6 Capitol riot carried out by his whipped-up supporters.

(Via CNBC)