Is Trump panicking and throwing the truth under the bus since agreeing to do an X interview with Musk?

After launching his social media platform, Truth Social, in 2022 in response to the ban on Twitter (now X), Trump appeared determined to build his digital empire. However, his recent return to X for an interview with Elon Musk raises serious questions about the future of Truth Social and whether Trump is abandoning his platform for a bigger megaphone.

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After nearly a year of being inactive on the platform, Trump returned in full force on Monday, flooding the site with a flurry of new posts. He followed up with a two-hour talk with the troubled Musk. The conversation became unfocused and repetitive, leaving the audience puzzled and asking, “What did I just listen to?”

This move should come as no surprise to those invested in Trump Media & Technology Group, the company behind Truth Social. The company’s financial reports have for some time warned of possible risks, especially since a rule allows Trump to share his political messages on any social media platform he wants. This means Trump can freely use a larger platform like X without worrying about how it affects his own company or his investors.

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The consequences were harsh. After Trump returned to X and had a disappointing interview with Musk, shares of Truth Social, Trump Media & Technology (NASDAQ:DJT) took a big hit, falling to near four-month lows. Trump Media has lost billions in value since it was first launched. Its share price has fallen from an all-time high of $97.54 to just $23.97 at the time of writing. The company’s financials look bleak, with losses of nearly $16 million reported for 2023 and high interest expenses.

Despite these troubling numbers, Devin Nunes, CEO of Trump Media and a former member of the US House, insists that the company is still “well positioned” because it has no debt and a platform that millions of people use. “Why are we well positioned? Because we have no debt,” Nunes said on Fox News. “We’re coming out of this with no debt, a platform that’s working really, really well, communicating with millions of people, and then we’ve got $200 million in the bank.”

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However, Nunes did not provide any timeline for when the company could become profitable, leaving investors feeling uncertain and uneasy.

Trump’s recent moves show he is under pressure and may be ready to drop Truth Social to stay in the spotlight for the 2024 presidential race against Kamala Harris.

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