Trump's Truth Social could be worth 'almost zero in six months': financial reporter
In six months time Donald Trump's shares in Truth Social could be worth billions or possibly "zero".
New York Times Pulitzer Prize-winning reporter Suzanne Craig appeared on MSNBC's "The Last Word" to discuss the potential windfall Trump received when his social media company went public this week.
"It's a very volatile and high-risk stock, so it could be anywhere from worth a lot more in six months to almost zero in six months, we don't know," she said.
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The social media platform traded under the ticker "DJT" on Tuesday; and by the second day shares rose from $8.23, or 14.2% on Tuesday, to $66.22 on Wednesday.
The gains boost Trump's Media & Technology Group, of which he owns 58%, up to a market value of $9.4 billion.
On paper that comes out to $5.2 billion.
The potential cash bonanza lands at a critical time for Trump while he's been scrambling to find liquid assets to pay off what was originally a $464 million bond in his civil fraud judgment against him and his eponymous company The Trump Organization.
That amount was reduced to $175 million by a five-member judge panel, giving Trump a cushion to pay up in 10 days.
As far as how he'll be able to meet the sum in time, Craig remains dubious.
"We don't know where he's going to get the money from," she said. "He said that he's going to put up cash, but you can get cash from a lot of places."
She discussed the possibility that he could try to leverage his newfound stock riches into some loan, but that it's more speculation at this point.
"Who knows what [the shares] are going to be worth in six months," she said. "There is speculation he'll get a loan off those shares, I don't know who would lend him money on those, because you don't know what it's going to be worth down the road."