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The Guardian - UK
The Guardian - UK
Business
Alex Hern UK technology editor

How can Donald Trump’s loss-making Truth Social be worth $9bn?

A woman looks at her phone, flanked on either side by trading data screens showing Truth Social shares are up by 43%
Truth Social trading data on screens outside the Nasdaq building in New York on Tuesday. Photograph: Brendan McDermid/Reuters

Donald Trump’s social network went public on Tuesday and quickly achieved a valuation of almost $8bn (£6.3bn), a gain of more than 15% on its initial public offering (IPO) value. Shares rose again in volatile trading on Wednesday, rising 14% and valuing it at $9.6bn. That enormous success has raised questions, and not all of them are easy to answer.

How can it possibly be worth $9bn?

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