Mary Trump Mocks Donald Trump's Truth Social Stock Price

Mary Trump, the outspoken critic and niece of Donald Trump, mocked the stock price of the former president's media company, which owns his social media platform Truth Social, on Thursday.

Last week, Shareholders of Digital World Acquisition Corp. (DWAC), an existing shell company, completed a merger with Trump Media & Technology Group (TMTG), a company founded by the former president. The stock price of TMTG rose 16 percent the day after the merger at about $58 a share and climbed even higher, up to $69.70 last Thursday.

Since then, the company's stock has plummeted by more than $23 and as of Thursday afternoon TMTG's stock price was at $45.87. While it is normal for stock prices to fluctuate, this is a pretty significant drop in a short amount of time.

Mary Trump posted a screenshot of the stock price plummeting on X, formerly Twitter, and took at shot at the former president, writing: "Everybody having a good day?" with a smile face wearing sunglasses emoji.

Newsweek reached out to Trump's spokesperson via email for comment.

Mary Trump has been a staunch critic of her uncle, who is the presumed GOP presidential nominee and on pace for a rematch with President Joe Biden, on social media and in her Substack newsletter. She also wrote the memoir Too Much and Never Enough published in 2020, which was critical of Donald Trump.

Market experts have previously referred to Truth Social as the first ever "election stock" saying that it will be a proxy for the financial implications of the personal brand of Trump. Others have called it a meme stock that is "overvalued."

With 79 million shares, Trump's majority stake in TMTG was worth over $5.5 billion last Thursday, and even with the stock price drop, his stake is still worth more than $3.6 billion.

The merger came as Trump's legal woes have created a financial burden on the former president. Trump had to post a nearly $92 million bond in March to prevent assets from being taken while he appeals a jury order for him to pay writer E. Jean Carroll $83.3 million in a defamation lawsuit.

Meanwhile, on Monday the former president posted a $175 million bond in the civil fraud case that New York Attorney General Letitia James brought against him after a judge ordered him to pay $355 million, plus interest, in damages. Trump has also appealed this case.

Trump has maintained that he has done nothing in these cases against him and says that that they and other criminal matters are politically motivated.

While Trump does have a majority stake in the new company worth billions of dollars, most mergers prohibit major shareholders from selling, lending, donating or encumbering shares within the first six months of a deal to assure investors that these shareholders will not immediately cash out at the same time and tank the stock's price.