Donald Trump was furious when he was removed from Twitter. To take revenge, the businessman created a knock-off version of Twitter called Truth Social. The company has not been successful; in fact, it has lost tens of millions of dollars.
Still, Trump was able to take his media company public and have it valued at billions of dollars. While its initial valuation is rapidly plummeting, Trump still stands to make money from the company's sale potentially. And Stephanie Ruhle thinks that is ridiculous.
The MSNBC host appeared on Seth Meyer's show Friday night and told the host:
"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."
Ruhle continued, "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. It’s a short period of time, but it’s public. People are going to realize it."