Former President Donald Trump fired back at criticism of his fledgling media venture on Thursday as the newly public company faces mounting pressure from Wall Street.

In a post on Truth Social, the GOP front-runner said his social media platform is the subject of a disinformation campaign from rival companies aiming to dismiss its prospects. The company, he wrote, has more than $200 million in cash, no debt and is “growing fast.”

“TRUTH IS AMAZING!” wrote Trump, who is the largest shareholder in Truth Social’s parent company with a stake currently worth more than $3.5 billion. “More importantly, it is the primary way I get the word out and, for better or worse, people want to hear what I have to say, perhaps, according to experts, more than anyone else in the World.”

Trump Media & Technology Group — the company behind Truth Social — has captured the financial world’s attention over the last two weeks as it went public.

An army of individual investors quickly flocked into the stock last week after the company began trading on Nasdaq under the ticker “DJT.” In the first few days of trading, the stock surged by almost 25 percent while Trump’s net worth skyrocketed — at least on paper. The former president, like others involved in the deal, is prohibited from selling any shares under a six-month lockup agreement, though he can ask the board of directors for a waiver.

For many investors, Trump Media has become a proxy for wagering on Trump and his chances in November, market experts say. But Wall Street veterans have questioned the stock’s multibillion-dollar valuation, given the money-bleeding business that is at the heart of Trump Media. The company just reported a net loss of $58 million for 2023 on revenue of just over $4 million.

Many Wall Street traders, meanwhile, have bet against the stock.

“It’s not a company, it’s a movement,” said Gene Munster, a managing partner at Minneapolis-based Deepwater Asset Management. “If it was valued like a normal company, it would be a fraction of its current valuation. Investors tend to look at the growth prospects and, separately, the profitability — not in the near term, but the long term. And on both of those metrics, it just doesn’t stack up.”

Shares have tumbled since the company reported the 2023 financial results on Monday. The stock was down more than 6 percent Thursday, as of mid-afternoon. But the valuation was still north of $5 billion.

Launched almost two and a half years ago, Trump Media was founded as part of a wave of “free speech”-oriented media organizations that popped up during and after Trump’s time in the White House. In regulatory filings, the company outlines a goal to become “a media and technology powerhouse” that would rival Big Tech giants that it believes prescribe to a “woke ideology.”

At the center of the company today, however, is Truth Social. The platform was created after Trump was kicked off Twitter, now known as X, after the Jan. 6 Capitol riot. It has become the former president’s favored online bullhorn, where he regularly posts criticism of President Joe Biden, other political foes and the media.

But Truth Social has yet to gather much of a following. In March, the platform’s average daily active users on its app in the U.S. was less than 1 percent of Elon Musk’s X, according to research firm Similarweb.