The share price of Donald Trump’s newly Nasdaq-traded Trump Media & Technology Group may currently be soaring.
But Seth Meyers predicted on Thursday that “there’s a good chance the bubble may burst” on the value of the company which has presumptive GOP nominee Trump’s DJT initials as its ticker symbol.
“The stock’s value is based entirely on one thing, which is Trump’s brand,” said the “Late Night” comedian, who argued Trump supporters are artificially propping up the value of the company, of which the Truth Social platform on which Trump regularly rants is the central product.
Meyers then noted how in its “own SEC filings, the company admitted Trump could tank the value” of the company if he is found guilty amid his myriad legal woes.
The loss-making organization is an “abject failure” with dwindling users, noted Meyers. It’s just “a dumb Twitter ripoff for MAGA trolls,” he added.
“Trump’s stock market windfall has nothing to do with the reality of his business and that’s obvious to everyone,” he said. “It’s just a buying spree fueled by Trump supporters and traders capitalizing on the enthusiasm of Trump supporters.”
Watch the video here:
And watch Meyers’ monologue, in which he mocked former Trump White House counselor Kellyanne Conway’s possible return to Trump’s orbit, here:
