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Stephen Colbert Mocks Trump’s Truth Social Stock Failure
Stephen Colbert recently took a jab at Donald Trump’s failed social media platform, Truth Social, which experienced a significant drop in stock value that reportedly cost Trump billions of dollars.
During his show, Colbert sarcastically mentioned the financial woes faced by Trump due to the failure of Truth Social. He highlighted how the platform lost $4 billion in value in just one week, adding to Trump’s recent legal expenses in other cases.
Truth Social’s Financial Downfall
Despite Trump’s initial investment of $175 million in Truth Social, the platform failed to gain traction in the market. This plummet in value followed a $58 million loss the platform reported in 2023, further exacerbating Trump’s financial troubles.
Colbert expressed his surprise at Truth Social holding any value, given its poor performance and lack of user engagement. He humorously linked the platform’s downfall to Trump’s announcement of a $58 million bible endorsed by Kid Rock, poking fun at the overall situation.
Following a 39% drop in stock price from its high of $79.38, Truth Social faced significant scrutiny for its inability to compete in the social media market. Colbert likened the platform’s failure to other unsuccessful ventures associated with Trump, highlighting a pattern of losses.
Trump’s Brand of Failure
Colbert’s commentary on Truth Social’s financial woes echoed sentiments shared by many who viewed the platform as a fraudulent scheme orchestrated by Trump. The validity of investments tied to Trump’s name came into question, with critics warning of potential losses for unsuspecting investors.
In conclusion, Colbert humorously reiterated that failure seems to be synonymous with the Trump brand, cautioning individuals against investing in ventures associated with the former president. The ridicule aimed at Truth Social’s downfall served as a reminder of the risks involved in aligning with Trump’s business endeavors.
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