Stephen Colbert Isn’t Shocked by Trump’s Stock Drop: ‘I’m Actually Surprised That Truth Social Had Value’ | Video SuperNayr

The serious financial setback Donald Trump experienced this week in the form of a massive drop in value of his media company didn’t come as a shock to Stephen Colbert.

What did come as a shock to “The Late Show” host was that the drop happened at all. “I’m actually surprised that Truth Social had value,” Colbert joked during his monologue Tuesday night.

Of course, what Stephen Colbert was talking about is the massive losses incurred by Trump Media & Technology Group, the company created essentially to manage Trump’s unsuccessful Twitter clone, Truth Social. The parent company (which trades on Wall Street as DJT) went public last week and ended up witj ludicrous valuation of $11 billion by Friday.

However, on Monday the true, extremely dire state of the company’s finances was disclosed, and since then the company’s stock has lost nearly $4 billion. As it has a small user base and makes almost no money, this tumble is likely to continue.

Colbert got into the topic on Tuesday by first discussing how Trump posted a $175 million bond on his $454 million New York fraud judgment, thanks to a bank loan underwritten by an… unusual insurance company that specializes in sub prime car loans.

Donald Trump

“Moving on to a civil fraud case yesterday, Trump put up a $175 million bond so he could appeal his $454 million judgment. He’s been searching for weeks for someone to put up the cash and he finally found a company to agree to it,” Colbert explained. “Knight Specialty Insurance, which is run by its chairman, and four year old who Freaky Fridayed with the CEO, Don Hanky. Hanky is kind of famous for taking on risky bets in the insurance world. He’s known as the king of subprime car loans. Yes, he’s the king now but one day the throne will return to its rightful heir Lord sloppy noodle.”

“He explained why he put up the money, saying ‘I heard that he needed a loan and this is what we do.’ Yes. This is what they did. You know their slogan: Turned down by the bankey? Don’t get so cranky. Call me, Don Hanky. You’ll say Why thank you, Don,” Colbert joked.

But, Colbert continued, “turned out, between the $175 million Trump put up in this case and the $91 million in the E Jean Carroll case, Trump still somehow posted way less money this week than he lost on Wall Street. Because reportedly Truth Social just lost $4 billion in value in one day.”

“I am actually surprised the truth social had value,” Colbert quipped. “The downturn happened after Truth Social posted the loss of $58 million in 2023. Coincidentally, Trump has just announced the release of the $58 million Kid Rock ball wi da ba wi ba Bible.”

“It’s got the Old Testament, the New Testament, the Declaration of Independence and Kid Rock’s family recipe for crystal meth,” Colbert added, referring to Trump’s shady branded bible.

But then Colbert put the situation in context with the rest of Trump’s Career.

“It’s not getting much better anytime soon. This morning, the stock opened at 48 bucks, which is a 39% plunge from the stock’s high of $79.38 on March 26. Truly an historic failure. No one has seen a loss this big since the Trump Taj Mahal, Trump Plaza Hotel, Trump Steaks, Trump Airlines, Trump University and Trump comma Eric,” Colbert joked.

Watch the whole monologue above.

Source link

Leave a Comment