A financial analyst told Fox Business on Monday that he found the idea of investing in former President Donald Trump's eponymous media company laughable.
David Bahnsen, the managing partner of the Bahnsen Group, said he could not recommend voting in Trump Media, the parent company of Truth Social that trades under the ticker DJT, despite a recent increase in stock prices from $18 to $42 a share.
"I'm going to laugh if we keep talking about DJT," he said. "There's not even a fundamental connection to Trump winning the election with it."
While financial analysts have argued DJT stock prices rise and fall with Trump's MAGA fanbases' optimism that he'll win the 2024 presidential election, Bahnsen contended a simpler dilemma faced the company.
"It's just a company that sets hundreds of millions of dollars on fire, and there's no path to changing that," Bahnsen said. "If Trump wins, Twitter is still the big social media app for this!"
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Truth Social, which was initially billed as an alternative to X, is still routinely used by the former president to post his announcements to the public, which often take the form of angry rants against various people.
Truth Social has struggled to attract content and has little advertising to speak of except for scams, according to a New York Times report.
In August, Trump Media reported that the company lost $16 million from the same point the previous year, with revenue falling 30 percent.
In April, some reports suggested many investors had effectively used the company as a pump and dump scheme, making a profit on quick trades and cash-outs of the business' shares.
