Wall Street Stands to Lose Billions as Truth Social Surges, Handed Trump $123 Million Per Day Last Month

An expert believes that Vice President Kamala Harris may not be the only potential "biggest loser" in America if former President Donald Trump secures another term in the White House.

In a piece for the New York Post, Charles Gasparino explored this idea in his On the Money column, suggesting that investors betting on a decline in Trump Media & Technology Group’s stock might face an unexpected outcome. Trump Media & Technology Group, the parent company of Truth Social, trades under the ticker DJT.

Through short selling—a strategy where investors profit from a stock’s decrease in value—some investors aim to cash in if the stock drops. However, Gasparino noted that as of his article's publication, DJT's stock had surged by 200% in October, with Trump reportedly gaining over $3.7 billion during the month.

At one point, DJT was valued at more than X, according to the Associated Press.

“People who held the stock have been making money. Not so for sophisticated investors known as short sellers who have bet against the stock,” Gasparino observed, mentioning that while the company has endured operational losses since its IPO, it has still drawn considerable investor interest.

“The short sellers have been getting hammered, and the worst could be yet to come,” he added.

Gasparino suggested that many investors are driven by sentiment rather than strict financial analysis, as Trump’s MAGA followers largely back DJT.

“The emotion surrounding Trump’s improving poll numbers is enough to boost the stock by a lot to crush short sellers,” he commented.

Bob Sloan, founder of the data analytics firm S3 Partners, hinted that a Trump win on Tuesday could potentially push the stock even higher.

“The MAGA holders make some money, and Trump gets even richer,” Gasparino wrote.

On the flip side, Gasparino noted that a Trump loss might yield profits for short sellers, meaning a potential financial setback for Trump.

In a separate New York Post column, Gasparino highlighted speculation around Truth Social’s possible integration into Elon Musk’s X platform, though any developments would likely wait until after the presidential race.

Despite DJT’s recent gains, its value has been notably unpredictable, with CBS reporting a 31% drop in share price on Wednesday and Thursday of the same week—reducing Trump’s paper stake in DJT by $1.9 billion.