Donald Trump Just Suffered 'Ultimate Insult'—Mary Trump

Donald Trump's niece says investors have delivered the "ultimate insult" to the former president by betting on his media and tech company to fail.

Trump Media and Technology Group Corp stock is now subject to short-selling. At 10.18 EDT on Wednesday, April 10, TMTG, which trades under the stock market ticker DJT, was down 23.8 percent in the past week.

Psychologist and writer Mary Trump, talks in her newsletter on Substack on Tuesday about the stock's recent troubles. "Truth Social's parent company, Trump Media & Technology Group [TMTG], has been in a free fall since it went public," she writes. "It's so bad that yesterday's continued slide of the shares' value erased all gains since the DJT stock began trading.

"It's at less than half of the $79 opening price on its March 26 debut, plummeting his net worth," Mary Trump wrote. "The drop has led investors to short-sell the stock... the ultimate insult."

As of Tuesday, the stock was down about 44 percent from its closing peak of $66.22 on March 27, as reported by Bloomberg.

On March 22, TMTG made its debut on the market after merging with the Digital World Acquisition Corp., an existing shell company. The company was initially propped up by Trump's supporters, which brought its value to surge.

But only eight days after an initial surge in trading when it first went public, shares of DJT's parent company had dropped more than 20 percent following the company's disclosure of a net loss of more than $58 million at the end of 2023.

The information that TMTG brought a revenue of only $4.1 million last year raised concerns over its long-term future, and likely scared investors.

The drop in the value of shares caused the company to lose about $2 billion in value—the value of Trump's majority stake of 57 percent.

According to Mary Trump "there isn't much Donald can do at the moment, because he's barred from selling or borrowing against his stock for six months." The former president is in fact tied to a lockup agreement that does not allow him to sell or borrow against any of his shares for six months.

As shares of TMTG are now selling as quickly as they were both on the day it made its debut, it looks like investors are betting on its downfall; but Trump would have to wait until September to cash out.

But the former president has expressed confidence in the company, writing on his social media platform Truth Social last week that TMTG is "very solid, having over $200,000,000 in CASH and ZERO DEBT."