‘Unbelievable!’ MSNBC Host Roasts Trump Over Truth Social Stock Value — ‘It’s Just Him Crazy-Posting!’
MSNBC host Stephanie Ruhle roasted former President Donald Trump over the stock price of his Truth Social company, deriding the company as nothing but Trump “crazy-posting!”
The newly-merged Trump Media and Technology (DJT) company began trading on the NASDAQ stock exchange last week, and immediately shot up in initial trading. But Monday saw the stock sharply fall after some negative financial disclosures — closing off 21.47%.
On Wednesday night’s edition of NBC’s Late Night with Seth Meyers, host Seth Meyers asked Ruhle to explain how the company is still valued at billions of dollars on paper while not being a “good business”:
SETH MEYERS: We talked about, and you have a great opportunity to talk about, our former president. He has some business dealings right now that I think are very, maybe dense for those of us that, don’t understand the stock market.
So he’s got this new company and its current valuation, even though it’s gone down a little bit in the last few days, it’s still billions of dollars. And Truth Social is not a good business.
STEPHANIE RUHLE: Okay. We are talking about Donald J. Trump.
SETH MEYERS: Yeah. Yeah. That one.
STEPHANIE RUHLE: What Donald J. Trump has done at this point is like the Trump best thing Trump could ever do, right? The last time you and I were talking. It’s– it’s unbelievable! He can tell lie after lie and it keeps on working for him.
SETH MEYERS: Yeah.
STEPHANIE RUHLE: So amidst– he has hundreds of millions of dollarsof fines of legal bills. He has charges against him. He’s running for president.
And amidst all that, he has now taken his social media company–. And the only thing this company does, they have no tech innovations, they have no products. It’s just him crazy-posting. (Yeah.) They have now taken this company public. The ticker is DJT. So like he is now a stock. (Yeah.) And this thing is valued in the multi billions right.
Like so it’s valued at what Macy’s is, what Harley Davidson. But the crazy thing is the company loses tens of millions of dollars. They don’t actually do anything. And so we’re just waiting.
Some of the people who are buying the stock are those like hardcore Trump lovers like buying a piece of him.
SETH MEYERS: But isn’t that enough? I guess we can all talk about how it’s a bad business and how it doesn’t make any money, but we know whether he has enough hardcore supporters to win an election. He has enough hardcore supporters, and it seems like maybe, for lack of any effort, he’s going to make billions of dollars.
STEPHANIE RUHLE: He could. Right? So that is like the potential ace in the hole here that you’re like, oh my gosh, he is the luckiest person in the world.
However, when he goes to sell, it’s not going to be like you or me selling. He will have to disclose it publicly. And when he does, they will come running and people will sell ahead of him. Now the scary thing.
SETH MEYERS: So this is again, I’m a layman here. How far before he sells does he have to disclose? He has to sell.
STEPHANIE RUHLE: It’s a short period of time, but it’s public. People are going to realize it.
Watch above via NBC’s Late Night with Seth Meyers.
