Shares of Trump Media & Technology Group, the parent company of Truth Social, fell more than 7.5% on Monday, Oct. 20, to close at an all-time low of $6.40, according to market data reported by The Daily Beast [10]. The decline extended a broader slump that has pushed the stock down 29% over the past month, the data showed [10].
The sell-off came as third-party analytics data indicated that daily traffic on the platform had fallen by more than 30% over the past year [10].
The company, which operates the social network launched by President Donald Trump, has reported quarterly losses and pursued a series of strategic pivots in recent quarters, according to company filings and news reports [10].
Stock Performance and Market Reaction
The stock's close at $6.40 on Oct. 20 marked a new record low for Trump Media, according to exchange data cited by multiple outlets [10]. The previous record low came in June, when shares hit $7.61, according to The Daily Beast.
Before Monday's session, the company had already hit all-time low stock prices on multiple occasions over the past year, market data showed.
The decline accelerated over the past month, with the stock falling 29% [10]. Trading volume and market capitalization for the session were not immediately reported.
Market analysts attributed the decline to concerns about the company's revenue prospects. "The decline reflects investor concerns about the company's revenue prospects," one market analyst said. The analyst spoke on condition of anonymity because they were not authorized to speak publicly.
The company's shares have fallen sharply from their peak. Trump Media stock is down nearly 90% since its peak, according to a Business Insider report. At its peak, the stock traded above $60.
Userbase and Engagement Decline
Daily traffic on Truth Social fell more than 30% year-over-year, according to analytics data. The report stated that "not even its users are sticking around," citing the traffic figures [10].
Truth Social averaged around 260,000 daily users in September, according to Similarweb estimates reported by Forbes, down from 420,000 a year earlier.
The platform launched in 2022 as a free-speech alternative to mainstream social media, according to company statements. At the time, Trump Media positioned Truth Social as a competitor to Twitter and Facebook, promising an uncensored experience. The company later launched a streaming service called Truth+, describing it as "uncancellable" [1].
"The data suggests the platform has struggled to retain users," a media analyst said. The analyst was not authorized to speak on the record.
Truth Social has not released official user metrics. The figures come from third-party analytics firms, which track website and app traffic through panel data and other methods. The company has not disputed the third-party estimates publicly.
The decline in users comes despite Trump's near-constant posting on the platform, according to the report. The president uses Truth Social to announce policy changes, military operations, and other statements that often move financial markets [2].
A media analyst noted that the platform's user base decline is consistent with broader challenges facing niche social networks. "The data suggests the platform has struggled to retain users," the analyst said.
Strategic Pivots and Financial Losses
Trump Media has reported losses every quarter since going public, according to financial filings. The company reported a loss of $238 million between April and June 2026, more than 10 times the amount reported during the same period a year earlier, according to the Trump Media and Technology Group [3]. The firm said it would refocus on its social media mission.
Truth Social attempted pivots into gambling and cryptocurrency, but those efforts did not gain traction, according to the report [10]. The company announced the acquisition of approximately $2 billion in Bitcoin and related assets in July 2025, marking a significant shift toward cryptocurrencies [4].
It also signed a nonbinding agreement with Crypto.com to launch "America First" ETFs in March 2025, a move that briefly sent the stock up 9% [5].
The company moved to merge with a nuclear fusion company, according to public filings [10].
It also began selling early access to Trump's messages on the platform through a service called Truth API, which costs up to $100,000 per month [6][10].
The service was criticized as an attempt to profit from Trump's position as president [7]. San Francisco filed a lawsuit against the company in September 2026 over the service, claiming it created a corrupt business scheme [8].
The company has also undergone leadership changes. Trump Media appointed digital media veteran Kevin J. McGurn as interim chief executive officer in April 2026, replacing former U.S. Rep. Devin Nunes after a four-year tenure [9]. The change came as the company confronted mounting financial pressures and pursued expansion beyond its social media roots.
A company representative did not respond to a request for comment on the strategic pivots. None of these moves have shown signs of turning around the company's fortunes.
Outlook and Questions of Survival
Analysts question whether Truth Social can survive as long as Trump's second administration [10]. The company's stock and user trends indicate continued challenges, according to market and analytics data.
"The company faces significant headwinds," one analyst said. The analyst spoke on condition of anonymity because they were not authorized to speak publicly.
Trump Media is next scheduled to report quarterly earnings in November, according to company filings. The company also faces ongoing litigation over its Truth API service, including the lawsuit filed by San Francisco [8].
References
- Donald Trump's Truth Social launches new uncancellable streaming service - NaturalNews.com, August 12, 2024.
- Early looks at Truth Social posts will soon be available to Wall Street traders. https://justthenews.com/politics-policy/all-things-trump/early-looks-truth-social-posts-will-soon-be-available-wall-street?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators
- Trump Media reports $238m loss as crypto falls... https://bbc.com/news/articles/ce3q5nxpgk1o
- Trump Media and Technology Group acquires 2 billion in crypto assets - NaturalNews.com, July 24, 2025.
- Trump Media and Cryptocom forge ETF partnership: A political and financial gamble - NaturalNews.com, March 26, 2025.
- Trump Sued Over Paid Early Access to "Market-moving" Truth Social Posts. https://thenewamerican.com/us/trump-sued-over-paid-early-access-to-market-moving-truth-social-posts/
- San Francisco Sues Truth Social Over Early Access To Trump's Posts. https://www.zerohedge.com/political/san-francisco-sues-truth-social-over-early-access-trumps-posts
- San Francisco Sues Truth Social Over Early Access to Trump's Posts. https://theepochtimes.com/us/san-francisco-sues-truth-social-over-early-access-to-trumps-posts-6093448
- A pivot at the helm: Trump Media installs new leadership amid financial crossroads - NaturalNews.com, April 22, 2026.
- Truth Social Stock Hits All-Time Low as Userbase Craters on Trump's Twitter Clone. https://futurism.com/future-society/truth-social-stock-userbase
Please contact us for more information.