I stand corrected. Maybe not a Ponzi scheme after all, it could...

I stand corrected. Maybe not a Ponzi scheme after all, it could be a "Meme" stock based on the greater fool theory of investing

From CNN

"Not only that, but Truth Social appears to be shrinking.
The number of Truth Social’s US monthly active users on iOS and Android is down 39% year-over-year, according to Similarweb data shared with CNN earlier this month. Truth Social remains much smaller than X (formerly Twitter), which is also shrinking but at a slower pace.

Jay Ritter, a finance professor at the University of Florida, said the current market price is hard, if not impossible, to justify.

“It is grossly overvalued,” said Ritter. “It qualifies as a meme stock for which the price is divorced from fundamental value…Meme stock investors are usually buying on the basis of the greater fool theory of investing: It is overvalued today, but I hope to make money selling it to an even greater fool tomorrow at an even higher price.”"