BTC $82,255 
ETH $2,447 
USDT $0.9991 
BNB $732.88 
XRP $1.34 
USDC $0.9996 
SOL $105.77 
TRX $0.3321 
FIGR_HELOC $1.03 
ZEC $1,230 Truth Social traffic plunges as Trump Media stock heads for seventh loss
A 30% decline in daily users has pressured shares lower, though total revenue grew despite losses in the core advertising business.
Key takeaways
- Audience collapse accelerates losses. Truth Social shed more than 30% of its users over the past year, falling from 420,000 daily users at its peak to 260,000.
- Revenue mix masks core weakness. Second-quarter revenue rose 89% to $1.67 million, but Truth Social advertising revenue declined year-over-year.
- Token mirrors stock weakness. DJTB, the blockchain-based token tracking Trump Media, dropped 8% in 24 hours to $7.17.
What happened
Trump Media & Technology Group shares opened Thursday at $7.10, down 1.72%, positioning the stock for a seventh straight session of declines. The latest losses follow Wednesday's 6.84% drop to $7.22, which came as The Washington Post reported that Truth Social's daily audience has contracted by more than 30% over the past year.
Similarweb, a digital intelligence firm, estimated Truth Social reached an average of 260,000 daily users in September 2026. That represents a sharp fall from the platform's peak of approximately 420,000 users in June 2025. The research figures are estimates rather than official user counts disclosed by Trump Media.
The six-day selling spree has knocked the stock down 16.5% from $8.65 on October 6. Wednesday's slide occurred alongside a broader market pullback that sent the Nasdaq Composite down 1.88%, driven by stronger-than-expected U.S. inflation data. By midday Thursday, shares had recovered slightly to $7.34.
The tokenized version of Trump Media shares, DJTB, which trades on Binance with 24-hour market access, fell roughly 8% to $7.17 over the previous day. Binance began offering DJTB in August 2026. Token holders gain price exposure to Trump Media but do not own actual shares or voting rights.
Why it matters
Audience size directly determines how many potential customers advertisers can reach on Truth Social. A platform losing more than a third of its users within 15 months undermines its ability to generate advertising revenue, the primary driver of value for social media companies.
Trump Media's second-quarter earnings reveal the tension in the business model. Total revenue climbed 89% to $1.67 million from $883,300 a year earlier, but Truth Social advertising revenue declined year-over-year. The overall revenue growth came instead from barter ad arrangements, streaming subscriptions, and fund management fees. The company reported a net loss of $238.1 million for the quarter.
Questions readers ask
Why is Trump Media stock falling?
Truth Social's user base has fallen more than 30% to 260,000 daily active users from a peak of 420,000, reducing the platform's appeal to advertisers and raising questions about growth prospects.
Is Trump Media still making money?
The company reported total second-quarter revenue of $1.67 million, up 89% from the prior year, but posted a net loss of $238.1 million and saw advertising revenue decline from the social platform.
What is DJTB and how does it relate to DJT stock?
DJTB is a blockchain-based tokenized security that provides price exposure to Trump Media without granting actual share ownership or voting rights. Binance launched trading in the token in August 2026.
How many daily users does Truth Social have now?
Similarweb estimates Truth Social averaged approximately 260,000 daily users in September 2026, according to third-party research rather than figures released by the company.
