WATCH: CNN Hosts Mock Donald Trump After Ex-Prez's Net Worth Drops by $1 Billion After Truth Social Stock Stumbles
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April 2 2024, Published 2:30 p.m. ET
CNN hosts couldn't hold their laughter as they mocked Donald Trump's Truth Social plummeting in stock value, RadarOnline.com has learned.
Trump's newly merged Trump Media and Technology (DJT) began trading on the NASDAQ last week.
Last week, the newly merged Trump Media and Technology (DJT) began trading on the NASDAQ stock exchange. While the ex-president's Truth Social initially saw major gains, the stock quickly plummeted after financial disclosures revealed major losses for the social platform in 2023.
During Tuesday's CNN This Morning, the hosts got a good laugh at Trump's expense when they opened the discussion on his stock exchange woes with a clip from The Tonight Show starring Jimmy Fallon.
The hosts couldn't hold back their laughter on Tuesday's edition of 'CNN This Morning.'
Co-host Kasie Hunt introduced the clip of Fallon joking Trump "is so broke he..."
"Speaking of Truth Social, the company’s stock is plunging after it was reported that it lost $58 million last year. Truth Social stock tanked so fast, they’re changing the name to Twitter," the Tonight Show host said.
Fallon then took a dig at Trump hawking Bibles to his MAGA base. " As a result of the stock tanking, Trump’s net worth dropped $1 billion. Trump’s so panicked he’s now selling copies of the Torah," he laughed.
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Hunt laughed over Fallon's bit before adding, "Shares of Trump Media and Technology Group, the parent company of Truth Social, plunged yesterday after a new SEC filing revealed the company lost more than $58 million in 2023. That compared to a $50.5 million profit in 2022."
"Donald Trump, who owns a majority of the newly public company, saw his own net worth tumble by more than $1 billion on paper. I don’t think... How many Torahs would you have to sell?"
The CNN hosts burst out in laughter as they continued to mock the ex-president's losses.
"A lot of Torahs!" Sarah Fischer exclaimed, to which Hunt reiterated, "Two– two billion dollars!"
Jonah Goldberg chimed in, "Larger than the Jewish market alone. Let’s just put it that way."
The CNN hosts piled on to Jimmy Fallon's joke of Trump being 'so broke' he would have to start selling Torahs in addition to Bibles.
Hunt wrangled in the conversation as she asked Fischer for clarification on what it means for DJT stock to drastically fall.
"Sara Fischer, can you help us understand? I mean, what the valuation is here and, like, look, the stock market. No, I’m not a business reporter," Hunt said. "You know a lot more about this than I do. I think for average voters, it’s clear that sometimes the market will reward companies that are losing money because there’s a promise of return in the future."
"They’re making a bet that this is going to be successful. Is that what’s going on with Truth Social, or is something else going on with Truth Social? Because I guess I struggle to see how like, this changes."
Laughter rose from the hosts again as Fischer explained, "You’re exactly right. This is what we would call a meme stock, which is where its financials are completely divorced from its market, valuation."
After explaining meme stocks, Fischer noted, "It’s not unusual for social media companies to go public and not make money."
"But what’s unusual is that they’re not revealing user metrics, right? Normally tech companies are screaming to the mountaintops to investors. Look how many people love our product. Nothing was revealed there."
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