Former President Donald Trump made his long-awaited return to Twitter/X on Monday night in a glitchy, three-hour livestreamed conversation with that platform’s new owner, Elon Musk.
The same day, shares in Truth Social, the rival social platform partly owned by Trump himself, dropped 5%. The stock is down nearly 60% so far this year, mainly over questions of its scant revenue. Last week, the company’s quarterly earnings report revealed that revenues had dropped 30% percent to $836,900 from a year earlier, with a total loss of $16.4 million during the quarter.
But part of the stock’s recent skid may also reflect investor concerns that, if the former president returns to regularly posting on the site now known as X, it may spell trouble for Truth Social, where Trump remains the main event.