Despite Trump's optimistic portrayals of Truth Social's finances, the platform's stocks have plummeted.
Donald Trump's recent comments on Truth Social's financial robustness—he asserts there is over $200 million in cash and no debt—come as the platform's stock plummets and financial disclosures reveal a number of possible fiscal troubles.While one expert says that Trump's comments on the finances are 'probably correct,' they have ignited scrutiny over potential securities fraud, raising the stakes for the former president and his early-stage media business venture.
The professor of law noted that the term 'growing fast' used by Trump could be ambiguous and misleading unless it is supported by genuine growth metrics, which contrasts with the company's documented financial challenges.'If it is growing slowly and Trump calls it 'fast' there is some room for the SEC or a court to decide,' Klausner said. 'It would be a judgment call.'The SEC did not respond to Newsweek's request for comment sent last week.
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