Trump’s parent company of Truth Social, a social media platform, goes public through a shell company, experiencing a staggering 58% surge in trading.

According to CNN, Trump Media generated only $3.4 million in revenue in the first nine months of last year. The company’s main asset, Truth Social, has less than 500,000 monthly active users, which is significantly lower than platforms such as Facebook, X (formerly Twitter), or TikTok. Moreover, Truth Social experiences more user attrition than larger platforms and at a faster rate.