Chris Crucial: Truth Social is a *terrible* investment 👎

PLUS: Abortion is on the ballot in Florida

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1. The truth about Truth: Truth Social, Donald Trump’s social media company is, um, not a very good business.

We got our first look under the hood of the company, which recently went public, via a filing with the Securities and Exchange Commission Monday. And, it’s bad. Really bad.

The company, which went public under the name “Trump Media & Technology Group,” made just $4.1 million in 2023. And it lost $58 million! Here are the dirty details:

Which is bad! But even worse when you consider that the market capitalization for Truth Social is around $6 billion. Yes, that’s “billion” with a “b.” (And it had a valuation of $11 billion as recently as a week ago!)