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The firm partnering with former President Donald Trump’s fledgling (and floundering) social media company saw its stock plummet Monday due to Team Trump’s inability to launch the app on schedule, CNBC reported.
If you were waiting with bated breath for the horrendously named Truth Social, it looks like you’ll have to find somewhere else to complain about women discussing sports or the number of Black people in lead film roles.
Like so many of Trump's previous business endeavors, Truth Social is turning out to be a dud.
The site, billed as a conservative-friendly alternative to Twitter, was scheduled to launch on Feb. 21. But last week, Devin Nunes — the former congressman and current CEO of Trump Media and Technology Group — said the app won't be ready until the end of March.
It’s the second major, costly delay for Trump's social media platform. The company missed its self-imposed November deadline for launching an invitation-only version of the platform. That beta launch was seen as an opportunity to demonstrate the company’s ability to deliver returns to investors, and much like Trump himself, the platform hasn’t lived up to its lofty promises.
Twitter and Facebook suspended Trump's accounts last year for his posts praising the Jan. 6 insurrectionists who attacked the U.S. Capitol in an attempt to overturn the election. Truthfully, he tempted fate on social media throughout his presidency, using his social media accounts to target adversaries, spread misinformation and share racist content, seemingly in defiance of the social media platforms’ terms of use.
Facebook's oversight board upheld its Trump ban in May, prompting predictable outrage from the former president.
“Free Speech has been taken away from the President of the United States because the Radical Left Lunatics are afraid of the truth, but the truth will come out anyway, bigger and stronger than ever before,” Trump claimed in a statement at the time.
If by “truth,” he was hinting at his yet-to-be-seen social media platform, that statement may have been Trump’s most flagrantly false piece of misinformation yet.
Just last week, Trump claimed the platform was “highly sophisticated” and much-anticipated. But like so many of his previous business endeavors, Truth Social is turning out to be a dud.
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