Trump Media is "a scam," and people buying its high-flying stock are "dopes," IAC and Expedia Chairman Barry Diller said Thursday in a scathing takedown of the social media company whose majority shareholder is former President Donald Trump.
"I mean, it's ridiculous," Diller said on CNBC's "Squawk Box" when asked about Trump Media.
When Trump Media began trading last week with the ticker DJT, its share price rocketed up about 50% to close to $80 before settling down.
As of Thursday morning, Trump Media shares were selling for nearly $47.
Trump Media on Monday reported it had net losses of $58 million in 2023.
Persons:
Barry Diller, Donald Trump, Diller, Trump
Organizations:
Trump Media, IAC, CNBC