Truth Social, former President Donald Trump’s social media platform, debuted on the NASDAQ stock exchange on March 26, 2024. Trump’s roller-coaster ride raises eyebrows and divides opinions.

Trump Media & Technology Group began publicly trading under the DJT ticker and raised close to $8 billion. Who expected that?

In this story, I will explore TMTG, DJT, and whether Truth Social is here to stay or a meme stock saga.

We have seen Nayib Armando Bukele Ortez, politician, businessman, and the 43rd president of El Salvador since 2019, going all-in on Bitcoin (BTC). 

Have we ever seen a former president launch his social network, aka media firm, and go public with it?

It’s remarkable enough to investigate. I am not a US citizen and have no voting rights.

Trump: From Twitter Ban to Truth Social  to Twitter Comeback


The launch of Truth Social comes on the heels of Trump’s high-profile bans from mainstream platforms like Twitter and Facebook following the January 6, 2021, Capitol riots.

Seeking to construct his own digital megaphone, Trump unveiled Truth Social in early 2022 as a self-proclaimed free speech alternative to the Big Tech goliaths, which have censored and deplatformed so many individuals already.

After a rocky start plagued by technical glitches, Truth Social has managed to amass an estimated 9 million active users as of February 2024.

However, this number pales in comparison to the 2+ billion active users on established platforms like TikTok, Instagram, and  Facebook (close to 3 billion).

Donald Trump is back on X (formerly known as Twitter) after nearly 2.5 years and has 83+ million followers on X. Around 10 times more followers than on his own Truth Social.

Elon Musk, with 180 million followers on X, knows Truth Social will never threaten X, the growing news platform for free speech. But that’s long-term strategic planning.

Short-term? With the 2024 US elections on the way, Trump will draw attention and traffic to X —a clever move by Musk.

This windfall couldn’t have come at a better time for Donald Trump, who is currently embroiled in several high-profile legal battles and judgments.

A New York appeals court has agreed to hold off collecting Donald Trump’s more than $454 million civil fraud judgment if he deposited $175 million within 10 days. Trump did.

Do you understand why I call it a roller coaster ride….?

Truth Social – The Meme Stock Phenomenon?


The enthusiasm surrounding Truth Social’s public debut has drawn comparisons to the “meme stock” craze that gripped the markets during the COVID-19 pandemic.

Much like the meteoric rise of GameStop and AMC, Truth Social’s stock price appears to be driven more by the enthusiasm of retail investors than by the company’s underlying financial performance.

The enterprise has become a meme stock, and its performance seems tied more to Trump’s political prospects than the company’s actual financial performance.

The stock price could change dramatically before Trump can cash out.

Indeed, Truth Social’s financial outlook is far from rosy.

The company reported a loss of $49 million in the first nine months of 2023, with just $3.4 million in revenue and $37.7 million in interest expenses.

Experts have warned that the stock could plummet by as much as 95% from its current levels.

Take a look at the below valuation of Truth Social made by Thomson/Reuters:

Since we are unsure if the ‘experts‘ are blue and biased or just biased, some arguments might make sense to marketers and business leaders.

Recent polls show that Donald Trump will be President again by the end of 2024. His loyal following will support him for obvious other reasons.

If that happens, emotions might also push today’s DJT value up again.

Stocks, Bitcoin, and crypto are too often sentiments and wishful thinking.

Truth Social – Grand Slam Home Run or Meme Stock Saga?


Truth Social and its number of active users? Truly Shit. It’s a bit more than the dying Clubhouse.

Clubhouse usage peaked in March 2021 when it announced it had 10 million active users.

For the audio, voice tech, and podcasting freaks? I predicted a bright future for podcasting but a failure for Clubhouse in this blog post.

Truth Social will never be able to compete with X (formerly known as Twitter). But don’t be shocked if Trump makes a bid on Valuetainment, for example.

As Truth Social navigates the turbulent waters of the public markets, global business leaders in marketing and technology will be watching closely.

As a serial entrepreneur with 5 marketing exits, an angel in 24 startups, and a crypto and private equity enthusiast, I advise you not to buy DJT stocks.

If you are a Trump fan? Buy his sneakers!

The platform lacks advanced tech, scale, and income. It’s a meme stock saga.

Truth Social’s normalized actual worth is around $1.5-$2 billion.

But for now? His IPO of $8 billion is one for the books. Who expected that?

The platform’s success or failure could have far-reaching implications for the future of social media and the role of political figures in the digital landscape.

It will also be a unique case and occasion for introspection for the marketing and media community, including the press and journalism.

Flip Your Funnel: Move Beyond Big Tech and Fans On Lease


Do you connect the dots? Censoring, bribed fact-checkers, and selling your private data. Toxic big tech is squeezing artists like lemons, getting even filthy richer.

Their billionaire CEOs need more money to build $200 million and up secret bunkers. Who told them what? Nuclear War?

Social platforms like Google and Meta, as well as players like Apple, are spying on you, secretly selling your data, and using sneaky shadow-banning tactics.

Zuckerberg forgot to tell us that he donated $400 million to the Biden 2020 campaign. That’s beyond conflict of interest. It’s influencing elections. Zuckerberg Cambridge Analytica, anyone?

I dubbed toxic social media platforms Fans on Lease. Why? Don’t get high on your own supply.

Don’t build or buy your house on leased land! Flip your Funnel: Own your IP, media channels, and fan relationships.

I won’t even speak about the Deep State Mainstream Media (MSM). This was THE ERA for journalism!! Wow, did they lie to us? Luckily, we still have the rising independent media and apps like Telegram.

That’s precisely why they will cut off the power grid, our access to the Internet, and our money. Decentralized, and power to the people, all connected via the Internet. Think again!

The New World Order wants complete control over all information and to decide when something is labeled as misinformation.

These are the same scary people who closed your gyms but kept McDonald’s open. The same group that wants to destroy our farmers to be able to feed you their bugs and GMOs.

The exact same global elite who locked us up with their Covid lies.

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About the Author

In the spotlights, Igor Beuker is a top marketing innovation keynote speaker and futurist known for his foresight on trends and technologies that impact business, economy, and society. Behind the scenes, a serial entrepreneur with 5 exits and an angel investor in 24 social startups. Board member at next-level media firms, changemaker at Rolling Stone Culture Council, Hollywood sci-fi think tank pioneer, award-winning marketing strategist for Amazon, L’Oréal, Nike, and a seer for Fortune 500s, cities, and countries.



In the spotlights, Igor Beuker is a professional public speaker and futurist known for his foresight on trends and technologies that impact business, economy, and society. Behind the scenes, a social entrepreneur with 5 exits and angel investments in 24 social startups, an award-winning marketing strategist for brands like Amazon, L’Oréal, Nike, and Unilever, and a seer for Fortune 500s, organizations, foundations, and governments.