Trump Media Stock Plummets: Billions Lost, Betting on Elections Planned

Trump Media Stock Collapse

• 📉 Trump Media and Technology Group (TMTG) stock has fallen to its lowest price ever, closing at $10.85 per share on November 17th.
• ⚠️ This represents a 32% drop in the last month, with the stock hitting $10.34 as of the recording.
• 💸 The stock is described as having a "digital perceived value of Donald Trump's presidency" rather than being a real business.
• 📉 It has fallen from $16 a share just three weeks prior (October 29th) and is now worth about one-tenth of its all-time high.

New Betting Platform Plans

• 🎯 TMTG plans to partner with crypto.com to offer betting on elections and sports through its True Social platform.
• 💬 This move is framed by True Social CEO Deon Nunees as "democratizing information" and "empowering everyday Americans."

Criticism and Corruption Allegations

• 🚩 The initiative is criticized as a way for "global elites" and billionaires to "steal your money" and take advantage of their base.
• 🎰 Concerns are raised about the potential for gambling issues and manipulation, drawing parallels to scandals in sports betting.
• 💰 The platform is accused of already being "full of" scams intended to fleece users.
• 🤝 There is skepticism that Donald Trump himself cares about the media company, suggesting it's a vehicle for elites to deposit money and receive favors.