Trump Media's Stagnant Growth and High Valuation Make It a Dubious Market Beater

Trump Media, parent company of Truth Social, went public through a SPAC merger on March 26, 2024, and its stock now trades at less than $9. Despite its stagnant core business, the company has been buying Bitcoin and Cronos tokens and issuing its own private "TMTG" tokens. With a market cap of $3.7 billion and a valuation of over 1,000 times its trailing sales, Trump Media is considered a meme stock that could plunge 99% and still be considered expensive.