Trump Media & Technology Group Corp. (TMTG), the parent company of Truth Social, presents itself as a politically aligned media disruptor but operates without a revenue model, product pipeline, or infrastructure typically expected from a public tech firm. Despite holding $777 million in cash from a 2024 SPAC merger, the company faces numerous red flags: massive insider compensation and stock selling, minimal operational updates, and opaque governance bolstered by a move to Florida incorporation. With conceptual-only products like Truth+ and Truth.Fi, and full reliance on Donald Trump's brand visibility, TMTG exemplifies high-risk speculative investing driven more by ideology than fundamentals.