What I'm Watching With Trump Media To See If They Beat The Market
Key Points
Trump Media’s stock has plummeted since its public debut.
Its core business is withering, yet it trades at meme-stock valuations.
- 10 stocks we like better than Trump Media & Technology Group ›
Trump Media (NASDAQ: DJT), the parent company of the social network Truth Social, went public through a merger with a special purpose acquisition company (SPAC) on March 26, 2024. Its stock opened at $70.90 on its first day, but it now trades at less than $9.
Does this unloved stock have a shot at beating the market this year? Let's review Trump Media's business model, its growth rates, and its valuations to decide.
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Image source: Getty Images.
What does Trump Media do?
Trump Media generates most of its revenue from Truth Social, which promotes itself as an uncensored, conservative-leaning alternative to mainstream social media platforms. But unlike other social media networks, Trump Media doesn't disclose Truth Social's monthly active user (MAU) count, average revenue per user, or other standard key performance metrics. According to SEO.ai, Truth Social only served 6.3 million MAUs in January 2025.
Trump Media also launched its Truth+ streaming video platform last year, but the Android version of its app has been downloaded only about 100,000 times since then. By comparison, Rumble (NASDAQ: RUM), the conservative-oriented streaming video platform, reached 52 million MAUs at the end of 2025.
Trump Media's core business is stagnant, but it's been buying Bitcoin (CRYPTO: BTC) and Cronos (CRYPTO: CRO) tokens over the past year. It also issued its own private "TMTG" tokens, which aren't publicly traded, to its investors earlier this year. That strategy lost momentum in recent months as the broader cryptocurrency market cooled.
Could Trump Media beat the market?
Trump Media is barely generating any revenue while racking up massive losses. It's struggling to stay relevant against bigger social media platforms, and it continues to pay out high stock-based compensation, legal expenses, and soaring interest on its own debt.
|
Metric |
2023 |
2024 |
2025 |
|---|---|---|---|
|
Revenue |
$4.1 million |
$3.6 million |
$3.7 million |
|
Net Loss |
($58.2 million) |
($401 million) |
($712 million) |
Data source: Marketscreener.
With a market cap of $3.7 billion, Trump Media is still valued at more than 1,000 times its trailing sales. Rumble, which is worth $1.8 billion, trades at just four times this year's sales.
Simply put, Trump Media is a meme stock that could plunge 99% and still be considered expensive relative to its sales. So while the near-term headlines about President Trump or the company's crypto plans might fuel a few near-term spikes, I doubt Trump Media's stock will beat the market this year. Investors should stick with better-run social media companies instead.
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Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
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