You thought paying $8 for a carton of eggs was bad? Wait till you see Truth Social’s 2024 earnings report. It will truly make you question how anyone could own shares in the stock unless it’s to support the President (as if he needs anymore financial support given the fact he’s a billionaire) or they’re treating it like DOGE (not Elon’s government agency), clinging to the hope that enough hype will bring in the masses and make them rich.

DJT, the company behind Truth Social, posted a net loss of (brace yourself) $400.9 million last year. That’s a sixfold increase from its already ugly $58 million loss in 2023. And what did they make in revenue? $3.6 million. That’s not a typo. Three. Point. Six. Million. Which means they somehow managed to burn through over 100 times their revenue in losses. Even WeWork at its peak would be impressed.

One of the more creative ways Truth Social managed to inflate that loss was by handing out $107 million in stock to employees. That’s 30 times what the company actually made in revenue. Let’s put that in perspective: If your company makes $100,000 a year, that’s like handing out $3 million in bonuses (pretty crazy right?).

Given the sheer absurdity of the financials, it looks like Truth Social is taking the classic tech playbook and going all-in on crypto and fintech. The company recently announced it plans to become a full-fledged financial technology platform, going all in on Bitcoin, digital payments, and blockchain solutions (because why not? When all else fails, let’s become a broker for crypto!).

If that sounds like a last-ditch effort to find a business model that actually makes money, well… that’s because it is.

Even CEO Devin Nunes admitted they’re looking to "acquire other entities" and "evolve into a holding company spanning multiple industries." The way I take that is “what we’re doing right now isn’t making money so we’re open to anything.” (Today it’s Bitcoin, tomorrow it’s a Truth-branded OnlyFans.)

While traditional social media companies like Meta and X (formerly Twitter) actually use normal business metrics like "daily active users" and "ad revenue per user," Truth Social has strategically avoided such pesky indicators. In their words, using traditional KPIs "could potentially divert its focus"... In other words, we don’t want you to see the numbers because they’re bad.

Despite all of this, Trump’s personal stake in DJT is worth $3.5 billion (on paper). Whether that wealth materializes or vanishes in a puff of retail trader hopium remains to be seen.

For now, if you’re looking for the worst deal in America, it’s not overpriced eggs… it’s buying stock in a company that’s losing $111 for every dollar it makes.

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Stock.News has positions in Meta.