A slew of Donald Trump-related investments made after his victory in November ended in disaster more than a year later.
“Sometimes irrational exuberance hits a roadblock of logic,” Art Hogan, chief market strategist at investment management platform B. Riley Wealth, told CNN in summarizing the downtrend.
Perhaps the most damaging market shift, according to the network’s analysis, is the value of the president’s own memecoin, $TRUMP.
The digital asset, which was launched shortly before the MAGA leader took office for the second time in January, initially surged to $9 billion before steadily declining to $1.1 billion, a loss of 88%.
Investors in First Lady Melania Trump’s coin MELANIA will suffer even worse losses as the price of the cryptocurrency has become so staggering that the coin is now worth just 11 cents. Its valuation is just under $100 million, down nearly 99% from $1.6 billion in February.
The Trump Media Technology Group, which owns Truth Social, the president’s favorite social media platform, has also apparently lost much of its appeal with traders.
In the weeks before last year’s election, they reportedly piled into the company, which had never turned a profit, more than tripling its value to $11 billion.
But today, its value is less than $8 billion, a drop of 80%.
Even investments unrelated to Trump and his associates have reportedly fared little better.
Investors are clearly eager to buy shares in private prison companies, anticipating a surge in the value of those companies as a result of the president’s promised anti-immigration campaign.
For example, shares of detention facility giant GEO Group surged more than 175% in the days before Trump was sworn in. Since then, however, their shares have lost more than half their value.
“I’ve given up on private prison,” Matthew Tuttle, chief investment officer at wealth management group Tuttle Capital Management, told CNN. “A lot of people, myself included, think ICE is going to round up people and put them in private prisons.”
“I didn’t expect to send people to El Salvador and other places,” he added.
