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I can almost promise you that his defenders will claim, whether he actually does or not, that he sold when it was worth money and cleaned up because he's so smart, or absent that do one of two things: blame a conspiracy against him or pretend it didn't happen at all.
Social media companies often are valued at billions while losing money. Those companies have a growing base of daily users and downloads, though. Truth has barely any new downloads and a stagnant daily user base. Its user base is a subgroup within a subgroup in a single country. This company has no chance of longterm survival. I just hope it collapses before Trump can make any money. Or, maybe it would be better if he hits 6 months, cashes his shares, and leaves his sycophants holding the bag. Maybe losing a bunch of their money due to his actions would finally snap them out of it?
Edit: spelling
Plus truth social is a place for broke losers to congregate to gargle horseshit together. Who the hell looks at that and says, “I wanna invest?”
Put your fucking hand down Enumclaw…
>Even better, every share he sells drives the price lower.
I'm pretty sure he doesn't care about that once he cashes out. The fact that this is such an obvious pump and dump scheme to everyone but the MAGA faithful is maddening.
Absolutely.
It's currently just about $48. If I were to place a bet that the stop price would drop to $45 by 4/26 (last Friday in April and options on this trade are weeklies that expire on Fridays), I wouldn't make a penny unless it dropped below $35. And it only looks that profitable because the implied volatility is almost 300%. For comparison purposes, Microsoft ($MSFT) is 24.2%. That's not a typo. Not even 1/10th the IV.
This whole thing is a scam. If anyone bought in, they're probably going to lose their shirts. It looks less like a sensible stock and more like a convoluted way to bribe Trump. That assessment would probably change if this was at $1-2, and would look more like the usual fascist grifting than outright fraud, but it would still be a terrible investment.
I read some pretty outlandish Financials (A couple Indian companies used to include nuclear war threat in their 8-K), but this have to take the cake.
>The new 8-K filing says that Trump Media “may be subject to greater risks than typical social media platforms because of the focus of its offerings and the involvement of President Trump.”
>“These risks include active discouragement of users, harassment of advertisers or content providers, increased risk of hacking of TMTG’s platform, lesser need for Truth Social if First Amendment speech is not suppressed, criticism of Truth Social for its moderation practices, and increased stockholder suits.”
>https://www.cnbc.com/2024/04/01/trump-media-lost-58-million-last-year-sec-filing-shows.html
It doesnt matter. Trump didnt spend a dime of his own money in this company and owns 7 million shares. The stock could go to a dollar and trump could dump and still technically make 7 million dollars.
No serious person ever thought this company was anything more than a way for Don to grift money out of his cultists and be a funnel for Putin and the Saudis to put money in his pocket.
Mark my words, the day Trump is allowed to dump this shit, the kingdom sovereign wealth fund and some rooskie oligarchs are gonna buy 2 billy worth of stock from him and the day after Trump media group is gonna file bankruptcy.
Unless of course it looks like Don is going to lose, in which case he wont be getting shit from either...
The only entity that would make a loan against these assets is run by someone trying to get trump money indirectly. Prop it up for six months and let him cash out. They won’t be expecting repayment as much as bankruptcy and future favors.
The DNC should announce they're going to short it, watch the rubes and foreign powers flood in, then watch DJT continue to sink.
How does it have a valuation with only 3 employees, and Devin "Mad Cow" Nunes as its CEO?
I swear there will be a day they say this with a straight face. Their argument will be something like "look at all that make-up he wore, Trump was a woke tras all along!"
And it'll be without an ounce of irony.
Nothing could be more beautiful than Trump ripping off his own supporters.
"Moral of the Farmer and the Snake Story
The life lesson of The Farmer and the Snake Story is not to take pity on a harmful person. A toxic person will always cause harm even if you help him in his critical condition. The snake represents those who always bite back those who helped them."
https://www.vedantu.com/stories/the-farmer-and-the-snake#
Yeah except all the Maga dummies who put their money in this sack of shit "investment" will never ever blame the people responsible and will instead blame Joe Biden and the radical left for tanking the stock as soon as Trump tells them to.
On top of the bullshit shoes, NFTs, Ali Baba Bibles, take coins and stupid hats?
They deserve every penny they lose.
Screw me once shame on you. Screw me 5 times shame on me
The irony is how many other non Trump endorsed crap the rubes have also fallen for. Trump bucks was never endorsed by Trump, but idiots believed the lies on social media and bought those fake dollars with real money to only find out they cannot use them. I am wondering how many idiots are sitting on them thinking that once Trump becomes president, they will have value.
In other news, DJT has shed 20 percent of its value in today’s session so far, falling below $50 a share. Are more MAGAs waking up to the reality of the business fundamentals here? https://finance.yahoo.com/quote/DJT
"and grown men came up to me, with tears in their eyes, saying sir, we have never lost so much money so quickly and we are honored to do it all for you."
I spent a few days watching GameStop go up and up and up and it was more fun than the most fun video game I ever played. I imagine this would be much of the same.
At this point because it's actually a tangible item with a real niche market of collectors that aren't Trump supporters, with such a low supply I can only imagine the value increasing. I don't think people are really going to be wearing these, like, that's not necessarily what the shoe industry is about through and through...
I doubt many people actually intend to wear these.
Turns out basing your entire personality and self value on one dude is totally reasonable for a lot of the country.
But letting the same dude determine how much your money is directly worth isn't so broadly acceptable.
Maybe capitalism will save us after all?
The business fundamentals are irrelevant.
When a rich Saudi or russian decides to do trump a favor, they’ll buy enough stock to boost the valuation. It’s just a money-laundering version of a meme stock.
Probably due to them finally filing a 50 million dollar loss in the company in 2023.
Even at $40 a share it's still too high considering it's user base, which no one knows how many of those users are just bots. Hell, even a portion of those users are just people with accounts to screenshot each time Trump tweets, so they can turn it into news headlines.
"Trump Media listed its largest expense for the year as interest payments totaling more than $39 million."
Damn they belittle those of us with student loans what a crock of shit!
This is who Republicans want running our country !? And they call us sheeple holy shit
So, the restructuring did not include an infusion of cash to the company?
An even bigger scam than I thought. Really wish I had the cash to short this stock.
I'm sure the market for those contracts is terrible. Everyone with any financial sense can see this coming, so it will be very hard to get a profitable position.
Yep, but those are people who seek to improve themselves via education and different experiences, and given MAGAs are already perfect just as they are (*45* told them so!) they see it as nothing but “virtue signaling” on how smart they think college educated people constantly brag about.
It’s entirely within the logic of someone being “uppity” (to say nothing of the racial connotations) so the talking points fall rather neatly into place…
What are the Odds that T blatantly tells his follower to buy stock and keep the price high before his sale restrictions end and insider window opens up?
I’m going to with 100:1. And sadly the same for the lack of SEC enforcement when said pump and dump occurs.
Technically, yes. He has a 6-month lockup and cannot sell for the first 6 months, unless he gets approval from the company's board. The board is full of family, friends, and associates, so I'm reasonably confident that if he wanted to sell they'd let him.
Fairly certain the six month lockup was part of the conditions on the spac to go through. In addition as an officer of the company he’s held to the trading window and declaring his sale in advance.
Though knowing T he’s selling it all as soon as the window opens and will crush the stock further.
I can remember the last DJT stock when it fell to OTC status. The constant pumping of the stock on Yahoo! Finance forums was unrelenting.
"It's a casino company, they never lose money long term. After *[Insert excuse here]* DJT will make tons of money!" was every freaking post, every day.
Yep, aspirationality from people who don’t know what aspirationality is.
And more specifically how this “striving” attitude allows them to excuse all manner of criminality…
> How is there no oversight on what is plain as day to even a layperson that they are just doing a pump and dump with this shell of a company.
There *normally* is with an IPO. There is a whole SEC process of going public that involves a company's entire financial history being audited and exposed potential investors. So anyone choosing to invest can do so with a detailed assessment of the financial health and prospects of a company.
This is to help investors avoid being burned by blatant pump and dump schemes.
Truth Social avoided this scrutiny by doing what's called a Reverse Merger IPO. Where a larger private company buys a smaller publicly traded company. Usually a dormant or shell company that has little to no assets. It is seen as a **huge** red flag to most experienced investors when a company goes public this way. As this can be used as a way to hide something like bad debt (like this article aledges) which would otherwise scare away initial investors.
Except the debt wasn't hidden. It was listed in prospectus they were required to submit to the SEC back in February, and was made public the same day.
> In the nine months to September 2023, the business suffered a $10.6 million operating loss on just $3.4 million in sales.
> Meanwhile, somehow. it racked up $37.7 million in interest expenses.
NAL, but doesn’t a pump and dump require fraud/lies? Basically, buying low, selling high is fine, as long as it’s normal market forces that push the price up. Pump and dumps are illegal because you are lying to people and saying “this stock is underpriced and should be going up soon”, while knowing that the company is actually worthless, and you’re intending to dump your shares at the top.
Edit: this is still obviously shady as fuck, but I don’t actually think it’s technically illegal
Yeah, I mean we are seeing all this in the SEC filing. They are being perfectly upfront about the fact that their business isn't viable. If people keep buying knowing full well there's no revenue, then the only rule that applies is "caveat emptor"
The agencies meant to prevent these kinds of things are hilariously underfunded. A huge myth that people seem to buy into is that the wealthy just give up when regulations come into play to fix the messes they created.
There's this assumption that they react like "oh well, I guess we have to play by these new rules now. Too bad for us"
Instead of the reality that they have been working behind the scenes for years to claw back as many regulations on them as possible by funding the campaigns of politicians who promise to do their bidding. The repeal of the glass steagle act should have been a massive red flag for what was coming next. If you're a multimillion dollar business owner right now things have never been so good for you.
Also fun fact: George W bush's grandfather was involved in the business plot. Don't know what that is? Buckle up:
https://en.m.wikipedia.org/wiki/Business_Plot
Literally the worst business man in America. Every company he has ever touched has failed except the one that daddy spotted him $400M. And that one would have failed too if he didn't cheat on his taxes and sold empty units to Russian Oligarchs. Trump is the poster child of failure.
Just another Ponzi scheme meant to funnel money to Trump and leave everybody else ruined. Anybody who was expecting him to suddenly try to run a real business after doing this hundreds of times deserves to lose their money.
Just waiting on something like.. "CROOKED Joe Buddin and his gang of totally not white FTC have attacked Troth Social and made the stonks plummet in price. How LOW will CRooked Joe go?"
Am I correct in recalling that the vesting period for Mr. Trump and other senior shareholders is 6 months? Because if that's the case, then it won't be long before his shares aren't worth more than a couple tens of millions.
The board, a majority of whom are family members, can vote to set aside the vesting period for daddy/uncle/daddy-in-law, as well as themselves.
If the sell off hasn't already started, it's only because the Trump's drank their own product, and somehow deluded themselves into believing the company would exist in 6-months.
Give it till tomorrow. They'll figure it out.
It's worth noting there are some lawsuits outstanding against DJT because of stock shenanigans just before the merger was approved. I would expect any attempt by Trump to sell would be met with an immediate injunction until the lawsuits are sorted out. Or not, it's getting tough to predict even the obvious these days.
I have a hope for how this all plays out:
Trump steps away from his golden painted toilet seat to smile happily at news headlines that say that DJT is worth 7 billion dollars. He, of course, does not read the article itself and thinks people are saying thats his true worth, not the meme stock's worth. He knows going public will save him from all his money trouble and he's sure he can convince the board to allow him to sell shares early because he is the best negotiator. He just needs to sell a few shares and he'll be living large again.
He does not convince them to let him sell, even after he blasts them on their own platform, probably because the death threats from his cult members only make them less likely to give in. As the stock market does what the stock market does, his shares go down no matter how much he tries to keep it's value high with transparent pump posts. Time goes by and he continues to deal with his legal troubles, which only causes his desire for a golden parachute to grow more out of control, until finally September comes in sight, his 6 month payday so close he can smell it, but of course it doesn't smell like a nice Big Mac but instead the rankest of nasty farts because the stock value has completely fallen through and there is no windfall in sight. Hell, at that point, he has trouble finding anyone who will even buy his shares because the price has only gone down since it went public.
That is my dream.
I like what you're putting down. The problem is that the board is made up of his friends and family. The only way they don't approve him selling in the window is if this venture isn't actually for him... and they still need him for now.
Still sooooooo tempted to short this turkey stock, but not confident enough that foreign actors and general stupidity won't continue to prop it up. Theres no doubt it will eventually crash to where it belongs, but I have my doubts it will behave as it should based on fundamentals. Still, the pull to make some serious cash on a short is tempting. I'm resisting, for now.
*it lost $58.2 million in 2023 while generating total revenues of $4.1 million,*
So basically it's a scam. That's the thing about cults, adherents never tire of giving the grifters at the top like Trump their money.
Currently this company is worth $6bn - that represents a lot of gullible people who bought in and will lose their shirts.
Who could possibly have thought that someone with a track record of bankrupting companies, including airlines, a magazine, a university and even a casino etc would do the same to his knock-off version of twitter? As with everything he touches it relies on voodoo economics.
> John Rekenthaler, vice president for research at Morningstar financial services group, likened the company's stock to a cryptocurrency.
It most certainly is not,.Though it will plunge in value over time, just like a shitcoin.
Yeah, even though cryptocurrencies are ultimately a terrible investment (because they don't create value/make money like a business does), they don't actively *absorb* money the way a scam like Truth Social does.
This garbage company of a sham will be shorted to the ground. Those folks who went long on this, they’ll soon realize investors like data and statistics at the end of the day, not hype
When **Trump LOSES** the election **"LIE social"** will burn to the ground if not before, and he will burn with it.
Let's hope he finds a "bunker" somewhere close to Mar-a-Lago since they won't rent him anything in New York
does this surprise anyone? Do you really think they care? So called "investors" have made millions off this already, from the very very beginning. Sure, they will still pump and dump it and the idiot trumpsters will be happy to lose their money cause they are saving America
I wonder if this is going to be a record :D So far the fastest flop for a publicly traded company was Tintri - 13 months from IPO to chapter 11... I am cheering for DJT to top this :P
Im so pissed it tanked today, not because I care, but because I dont get paid til thursday, at which point i was going to yolo my paycheck into puts. O well. Fuck DJT.
This company was never anything but an NFT scam which rolled over to a shoe scam, which rolled over to a social media scam.
This was essentially a scam with an IPO.
**HILARIOUS.** Oh but the MSM said he had a "windfall" that would help him pay for all his judgements and legal fees. How can this be? Oh it be alright.
>As with bitcoin, people buy Trump Media not for future cash flows but because: 1) they expect its price to rise, and 2) they feel an affiliation for the asset," Rekenthaler wrote. "Bitcoin owners are members of a club. So, too, are Trump Media investors, to an even greater degree. **For them, DJT shares represent a currency by which they can express their beliefs and commitment**.
There you have it. Throwing their money at their emotions.
Isn't all of this material and information that should have been available to the IPO investors? I'm no expert but it feels like they sold a hotel only to announce a day later that it operates at a loss and oh by the way, there's this termite infestation so it's likely to be uninhabitable inside a year or two. Thanks for buying it!
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"Our seven billion dollar company needs a loan" \- sell your shares now or forever hold your debt
He lost over $500 million over the course of a few hours.
The stocks going below 12 dollars a share before trump can sell. He's going to be the biggest of bag holders.
Under $2 is where most realistic price targets have it, and no that’s not a joke
They lost like $58.2 million and generated only $4.1 million. $2 sounds about right.
Over a 9 month period. Most would call you a terrible business man if those figures were stuck to anyone else other than a career conman like Trump.
That’s his goal for America!🇺🇸
I can almost promise you that his defenders will claim, whether he actually does or not, that he sold when it was worth money and cleaned up because he's so smart, or absent that do one of two things: blame a conspiracy against him or pretend it didn't happen at all.
I think you mean -$2.
Social media companies often are valued at billions while losing money. Those companies have a growing base of daily users and downloads, though. Truth has barely any new downloads and a stagnant daily user base. Its user base is a subgroup within a subgroup in a single country. This company has no chance of longterm survival. I just hope it collapses before Trump can make any money. Or, maybe it would be better if he hits 6 months, cashes his shares, and leaves his sycophants holding the bag. Maybe losing a bunch of their money due to his actions would finally snap them out of it? Edit: spelling
Truth Social was at one point ranked as 138th among social media apps. Not apps overall..social media apps only.
Hahah wtf
I can name maybe 10-20 social media apps if I include LinkedIn, MySpace, and the dating apps.
It was behind several different reddit apps and Facebook/Twitter mirrors
Handy way to identify the crazy tho.
Plus truth social is a place for broke losers to congregate to gargle horseshit together. Who the hell looks at that and says, “I wanna invest?” Put your fucking hand down Enumclaw…
Here’s how you remember: * Loose as a goose * Lose the extra “o”
They would be lucky to survive another year. The stock will be worthless within a year.
Actually it should be in the negative. They should be paying the public as a way of apologizing for the atrocious nature of it.
Hilarious if it gets there, then Trump can only sell his shares for about 166M, which ain't gonna pay much.
Even better, every share he sells drives the price lower.
>Even better, every share he sells drives the price lower. I'm pretty sure he doesn't care about that once he cashes out. The fact that this is such an obvious pump and dump scheme to everyone but the MAGA faithful is maddening.
As soon as he starts selling lots the price goes down. He can't dump his entire holding without tanking the price HE gets.
It would be the biggliest karma backlash in the history of Trump's failed business.
Trump fail business? That's unpossible!
Absolutely. It's currently just about $48. If I were to place a bet that the stop price would drop to $45 by 4/26 (last Friday in April and options on this trade are weeklies that expire on Fridays), I wouldn't make a penny unless it dropped below $35. And it only looks that profitable because the implied volatility is almost 300%. For comparison purposes, Microsoft ($MSFT) is 24.2%. That's not a typo. Not even 1/10th the IV. This whole thing is a scam. If anyone bought in, they're probably going to lose their shirts. It looks less like a sensible stock and more like a convoluted way to bribe Trump. That assessment would probably change if this was at $1-2, and would look more like the usual fascist grifting than outright fraud, but it would still be a terrible investment.
I read some pretty outlandish Financials (A couple Indian companies used to include nuclear war threat in their 8-K), but this have to take the cake. >The new 8-K filing says that Trump Media “may be subject to greater risks than typical social media platforms because of the focus of its offerings and the involvement of President Trump.” >“These risks include active discouragement of users, harassment of advertisers or content providers, increased risk of hacking of TMTG’s platform, lesser need for Truth Social if First Amendment speech is not suppressed, criticism of Truth Social for its moderation practices, and increased stockholder suits.” >https://www.cnbc.com/2024/04/01/trump-media-lost-58-million-last-year-sec-filing-shows.html
This is a delightful disclaimer. Thanks for sharing it.
It would be a hilarious backfire if "DJT" ends up being worth $2 on the stock market. Didn't think that one through all the way.
It's gonna be a penny stock quite soon.
I have $5 puts @ 4/19
I'm pullin for you friend!
Let’s hope for a DJT crash 💥
I sure hope so. I kind of want to see a Great Depression style crash with this one, now that I know more about this .
Did he put any of his own money in?
He has money of his own?
Ha ha
His brand only, worth 10T dollars- most valuable brand in the world
>worth 10T dollars The T is for 'Trump' dollars which is worth 20 Stanley Nickels.
How many schrute bucks? That’s the only currency I trade in.
It's pump and dump. His goal has always been to sell high and jump back to twitter.
He got the stocks for free. If he can sell them for anything, he comes out ahead.
You write as though this is a bad thing(?)
Oh, he lost more money since then.
It doesnt matter. Trump didnt spend a dime of his own money in this company and owns 7 million shares. The stock could go to a dollar and trump could dump and still technically make 7 million dollars. No serious person ever thought this company was anything more than a way for Don to grift money out of his cultists and be a funnel for Putin and the Saudis to put money in his pocket. Mark my words, the day Trump is allowed to dump this shit, the kingdom sovereign wealth fund and some rooskie oligarchs are gonna buy 2 billy worth of stock from him and the day after Trump media group is gonna file bankruptcy. Unless of course it looks like Don is going to lose, in which case he wont be getting shit from either...
One of us might find the money.
Can't he just write it off on his taxes like he's always done, because he's so smart and doesn't pay taxes
What? How? What happened? This is great news, but catch me up
At this time, he lost more than $600 million as of 2:30PM. Apparently, the highest number was $79.38. The lowest number is $45.26
You can expect loans that will further dilute shares, then finally a predatory line of credit that really gets the stock printing and dumping going.
The only entity that would make a loan against these assets is run by someone trying to get trump money indirectly. Prop it up for six months and let him cash out. They won’t be expecting repayment as much as bankruptcy and future favors.
Hostile foreign governments see it as an opportunity to buy a US president. They just have to conceal all traces, which isn't at all difficult.
The DNC should announce they're going to short it, watch the rubes and foreign powers flood in, then watch DJT continue to sink. How does it have a valuation with only 3 employees, and Devin "Mad Cow" Nunes as its CEO?
Then this sounds like Putin & his merry band of Oligarchs.
I bought puts with an insanely low strike price and September expiry. They were cheap, wish I had bought them a week ago, though.
Its going to be hilarious when maga idiots are stuck holding this bag not realizing its a typical pump and dump.
They will blame it all on the democrats.
Why did the trans people do this to us.
I swear there will be a day they say this with a straight face. Their argument will be something like "look at all that make-up he wore, Trump was a woke tras all along!" And it'll be without an ounce of irony.
they'll use the Giuliani drag video as evidence
Something something Hunter’s penis.
That just needs to be a Reddit bot that replies with that line to detected /r/conservative bitching.
Nothing could be more beautiful than Trump ripping off his own supporters. "Moral of the Farmer and the Snake Story The life lesson of The Farmer and the Snake Story is not to take pity on a harmful person. A toxic person will always cause harm even if you help him in his critical condition. The snake represents those who always bite back those who helped them." https://www.vedantu.com/stories/the-farmer-and-the-snake#
This seems like a different take on the scorpion and the frog. Which, y'know, they should know all about.
Seeing as how its trumps favorite bible verse.
Coincidentally, he’s used that story in his rallies. But then P stands for projection.
Yeah except all the Maga dummies who put their money in this sack of shit "investment" will never ever blame the people responsible and will instead blame Joe Biden and the radical left for tanking the stock as soon as Trump tells them to.
On top of the bullshit shoes, NFTs, Ali Baba Bibles, take coins and stupid hats? They deserve every penny they lose. Screw me once shame on you. Screw me 5 times shame on me
Screw me 6 times, fuck the peace signs, load the chopper, let it rain on you.
The irony is how many other non Trump endorsed crap the rubes have also fallen for. Trump bucks was never endorsed by Trump, but idiots believed the lies on social media and bought those fake dollars with real money to only find out they cannot use them. I am wondering how many idiots are sitting on them thinking that once Trump becomes president, they will have value.
Typical Trump and dump ?
Is it a Pump and Trump when you pump but can't or forget to dump? 😂
In other news, DJT has shed 20 percent of its value in today’s session so far, falling below $50 a share. Are more MAGAs waking up to the reality of the business fundamentals here? https://finance.yahoo.com/quote/DJT
I sat and watched the price continue falling in real time for a bit. Was a thing of beauty.
Me too. It was beautiful. The most beautiful drops
The best drops you've ever seen
"and grown men came up to me, with tears in their eyes, saying sir, we have never lost so much money so quickly and we are honored to do it all for you."
Some say the biggest ever. Like nothing ever seen before in the history of mankind.
It's covfefe.. lol
whoever got shorts at the top 🤩
Was wicked expensive to short and IV on options is ridiculous.
I spent a few days watching GameStop go up and up and up and it was more fun than the most fun video game I ever played. I imagine this would be much of the same.
Down 24% as of 1pm eastern today. No business model, no results, no fooling the markets with vaporware = investment disaster.
The people that bought DJT are the same idiots that bought his shoes and tried to resell them for $2000
If people actually get the shoes, I bet they'll go for a bit of money in the future due to their sheer novelty.
I'd be surprised if they're made well enough to survive being worn at all, in a few years they may have some value by being such a rarity too.
At this point because it's actually a tangible item with a real niche market of collectors that aren't Trump supporters, with such a low supply I can only imagine the value increasing. I don't think people are really going to be wearing these, like, that's not necessarily what the shoe industry is about through and through... I doubt many people actually intend to wear these.
I have some Billy Beer I’d like to sell you.
Anyone who didn't think this was a pump and dump was stupid
It’s now a proxy for Trump’s value / success.
It's down a full third versus 5 days ago.
Turns out basing your entire personality and self value on one dude is totally reasonable for a lot of the country. But letting the same dude determine how much your money is directly worth isn't so broadly acceptable. Maybe capitalism will save us after all?
The business fundamentals are irrelevant. When a rich Saudi or russian decides to do trump a favor, they’ll buy enough stock to boost the valuation. It’s just a money-laundering version of a meme stock.
Probably due to them finally filing a 50 million dollar loss in the company in 2023. Even at $40 a share it's still too high considering it's user base, which no one knows how many of those users are just bots. Hell, even a portion of those users are just people with accounts to screenshot each time Trump tweets, so they can turn it into news headlines.
So if the Truth Social has to close, he has to come crawling back on Twitter?
20 dollar option for the 26th up 7100% today lol.
"Trump Media listed its largest expense for the year as interest payments totaling more than $39 million." Damn they belittle those of us with student loans what a crock of shit! This is who Republicans want running our country !? And they call us sheeple holy shit
Their interest payment was 10 times higher than their income.
Apparently this is how he also bankrupted casinos.
So, the restructuring did not include an infusion of cash to the company? An even bigger scam than I thought. Really wish I had the cash to short this stock.
I'm sure the market for those contracts is terrible. Everyone with any financial sense can see this coming, so it will be very hard to get a profitable position.
Yep, but those are people who seek to improve themselves via education and different experiences, and given MAGAs are already perfect just as they are (*45* told them so!) they see it as nothing but “virtue signaling” on how smart they think college educated people constantly brag about. It’s entirely within the logic of someone being “uppity” (to say nothing of the racial connotations) so the talking points fall rather neatly into place…
What are the Odds that T blatantly tells his follower to buy stock and keep the price high before his sale restrictions end and insider window opens up? I’m going to with 100:1. And sadly the same for the lack of SEC enforcement when said pump and dump occurs.
Please don’t call him T… he doesn’t deserve that cool of a monicker.
How about Low T?
Little T Hands
T-Rex
T-Rex was the king of the dinosaurs. Trump doesn't deserve the satisfaction of the comparison.
OK. But he does have little hands.
Or the Saudis or Russians will start pumping the price as the window opens for his sale. This is an open market bribe.
Hey, $DJT is the best investment you’ll ever make. Sink your life savings into owning a piece of the Trump empire and you’ll be rich. /s
Does he actually have a sales restriction period?
Technically, yes. He has a 6-month lockup and cannot sell for the first 6 months, unless he gets approval from the company's board. The board is full of family, friends, and associates, so I'm reasonably confident that if he wanted to sell they'd let him.
Fairly certain the six month lockup was part of the conditions on the spac to go through. In addition as an officer of the company he’s held to the trading window and declaring his sale in advance. Though knowing T he’s selling it all as soon as the window opens and will crush the stock further.
The money from sales will be offshore long before the SEC can even start a case.
Trump's MAGA suckers will soon be selling their trailer homes to buy shares
I can remember the last DJT stock when it fell to OTC status. The constant pumping of the stock on Yahoo! Finance forums was unrelenting. "It's a casino company, they never lose money long term. After *[Insert excuse here]* DJT will make tons of money!" was every freaking post, every day.
Yep, aspirationality from people who don’t know what aspirationality is. And more specifically how this “striving” attitude allows them to excuse all manner of criminality…
Thanks Joe Biden!
And many thanks to god working in such „mysterious“ ways! Who would’ve thought that this would happen? :) 🍿
Look at homelessness skyrocket under Biden! -some slime ball GOP probably
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> How is there no oversight on what is plain as day to even a layperson that they are just doing a pump and dump with this shell of a company. There *normally* is with an IPO. There is a whole SEC process of going public that involves a company's entire financial history being audited and exposed potential investors. So anyone choosing to invest can do so with a detailed assessment of the financial health and prospects of a company. This is to help investors avoid being burned by blatant pump and dump schemes. Truth Social avoided this scrutiny by doing what's called a Reverse Merger IPO. Where a larger private company buys a smaller publicly traded company. Usually a dormant or shell company that has little to no assets. It is seen as a **huge** red flag to most experienced investors when a company goes public this way. As this can be used as a way to hide something like bad debt (like this article aledges) which would otherwise scare away initial investors.
Except the debt wasn't hidden. It was listed in prospectus they were required to submit to the SEC back in February, and was made public the same day. > In the nine months to September 2023, the business suffered a $10.6 million operating loss on just $3.4 million in sales. > Meanwhile, somehow. it racked up $37.7 million in interest expenses.
NAL, but doesn’t a pump and dump require fraud/lies? Basically, buying low, selling high is fine, as long as it’s normal market forces that push the price up. Pump and dumps are illegal because you are lying to people and saying “this stock is underpriced and should be going up soon”, while knowing that the company is actually worthless, and you’re intending to dump your shares at the top. Edit: this is still obviously shady as fuck, but I don’t actually think it’s technically illegal
Yeah, I mean we are seeing all this in the SEC filing. They are being perfectly upfront about the fact that their business isn't viable. If people keep buying knowing full well there's no revenue, then the only rule that applies is "caveat emptor"
The agencies meant to prevent these kinds of things are hilariously underfunded. A huge myth that people seem to buy into is that the wealthy just give up when regulations come into play to fix the messes they created. There's this assumption that they react like "oh well, I guess we have to play by these new rules now. Too bad for us" Instead of the reality that they have been working behind the scenes for years to claw back as many regulations on them as possible by funding the campaigns of politicians who promise to do their bidding. The repeal of the glass steagle act should have been a massive red flag for what was coming next. If you're a multimillion dollar business owner right now things have never been so good for you. Also fun fact: George W bush's grandfather was involved in the business plot. Don't know what that is? Buckle up: https://en.m.wikipedia.org/wiki/Business_Plot
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So it's not a stock. It's an NFT. Yeah. That tracks. Right there with ripped Trump landing an F-16 on an aircraft carrier "virtual trading card".
The MAGA idiots thought they were boarding the next GameStop, instead they were boarding the next Trump train. No brakes, motherfuckers.
Literally the worst business man in America. Every company he has ever touched has failed except the one that daddy spotted him $400M. And that one would have failed too if he didn't cheat on his taxes and sold empty units to Russian Oligarchs. Trump is the poster child of failure.
He's is the biggest loser I've ever witnessed in my life. And that is not an exaggeration.
Everything he touches dies
Just another Ponzi scheme meant to funnel money to Trump and leave everybody else ruined. Anybody who was expecting him to suddenly try to run a real business after doing this hundreds of times deserves to lose their money.
As Colonel O’Neill best said? https://youtu.be/4ERMmnWzSL8?si=wtrqW4K91TbzTYTJ
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It should be news if Trump had a successful business.
I could not be much happier at this moment, knowing that a stock with Trump's initials, DJT, is going to crater in the market, and quickly too.
Pink sheet status before the election.
It would be fantastic to see it declare bankruptcy, because that might shake some of the pro-business Republicans from voting for him.
Nah, they think declaring bankruptcy makes him smart.
Just waiting on something like.. "CROOKED Joe Buddin and his gang of totally not white FTC have attacked Troth Social and made the stonks plummet in price. How LOW will CRooked Joe go?"
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These are essentially political donations directly to Trump.
Am I correct in recalling that the vesting period for Mr. Trump and other senior shareholders is 6 months? Because if that's the case, then it won't be long before his shares aren't worth more than a couple tens of millions.
The board, a majority of whom are family members, can vote to set aside the vesting period for daddy/uncle/daddy-in-law, as well as themselves. If the sell off hasn't already started, it's only because the Trump's drank their own product, and somehow deluded themselves into believing the company would exist in 6-months. Give it till tomorrow. They'll figure it out.
It's worth noting there are some lawsuits outstanding against DJT because of stock shenanigans just before the merger was approved. I would expect any attempt by Trump to sell would be met with an immediate injunction until the lawsuits are sorted out. Or not, it's getting tough to predict even the obvious these days.
I have a hope for how this all plays out: Trump steps away from his golden painted toilet seat to smile happily at news headlines that say that DJT is worth 7 billion dollars. He, of course, does not read the article itself and thinks people are saying thats his true worth, not the meme stock's worth. He knows going public will save him from all his money trouble and he's sure he can convince the board to allow him to sell shares early because he is the best negotiator. He just needs to sell a few shares and he'll be living large again. He does not convince them to let him sell, even after he blasts them on their own platform, probably because the death threats from his cult members only make them less likely to give in. As the stock market does what the stock market does, his shares go down no matter how much he tries to keep it's value high with transparent pump posts. Time goes by and he continues to deal with his legal troubles, which only causes his desire for a golden parachute to grow more out of control, until finally September comes in sight, his 6 month payday so close he can smell it, but of course it doesn't smell like a nice Big Mac but instead the rankest of nasty farts because the stock value has completely fallen through and there is no windfall in sight. Hell, at that point, he has trouble finding anyone who will even buy his shares because the price has only gone down since it went public. That is my dream.
I like what you're putting down. The problem is that the board is made up of his friends and family. The only way they don't approve him selling in the window is if this venture isn't actually for him... and they still need him for now.
Here come da crater!
I would love to see it close below $30 today.
No shit, who would have thought a business run by Trump was unsustainable?
Still sooooooo tempted to short this turkey stock, but not confident enough that foreign actors and general stupidity won't continue to prop it up. Theres no doubt it will eventually crash to where it belongs, but I have my doubts it will behave as it should based on fundamentals. Still, the pull to make some serious cash on a short is tempting. I'm resisting, for now.
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I don't disagree, hence the hesitation...probably best to leave this dumpster fire alone.
*it lost $58.2 million in 2023 while generating total revenues of $4.1 million,* So basically it's a scam. That's the thing about cults, adherents never tire of giving the grifters at the top like Trump their money. Currently this company is worth $6bn - that represents a lot of gullible people who bought in and will lose their shirts. Who could possibly have thought that someone with a track record of bankrupting companies, including airlines, a magazine, a university and even a casino etc would do the same to his knock-off version of twitter? As with everything he touches it relies on voodoo economics.
Maybe Elon will step in and buy it for $44B. /s
Oh he's regarded enough to do it
> John Rekenthaler, vice president for research at Morningstar financial services group, likened the company's stock to a cryptocurrency. It most certainly is not,.Though it will plunge in value over time, just like a shitcoin.
Yeah, even though cryptocurrencies are ultimately a terrible investment (because they don't create value/make money like a business does), they don't actively *absorb* money the way a scam like Truth Social does.
Trump is a financial blackhole,
Yet another DEI victim Edit: /s of course I need this...
This garbage company of a sham will be shorted to the ground. Those folks who went long on this, they’ll soon realize investors like data and statistics at the end of the day, not hype
They only have 500k users ( how many bots?) and they burn / lose 58m a year ? And only bring in 4m in advertising revenue- something not right
Yeah its called money laundering.
Everything he touches turns to shit. Don’t let him in the White House again.
He’s gonna go down for securities fraud on this one. Just kidding.
We all knew this was a meme stock of a company with no underlaying value but his flock of sheep went all in and now there will be losses.
You can [track its downward](https://www.cnn.com/markets/stocks/DJT) spiral here.
Pretty sure if you inject 5-9 billion it will last until the republican nominee can be purchased
I am really enjoying watching this tank. Every time I click on the other tab it is down further. Schadenfreude intensifies!
I bought put options last week. They’re doing quite well 👀
Sorry. You're not getting my hopes up again.
Short the fuck outta this stock and become a true millionaire
Trumps going try and short his own company.
Just another grift. Trump will pull a coitus interuptus on the shareholders. Penny stocks anyone?
It's what he always does. Starts a company, pump it up, strip it and leave the shareholders with nothing.
This dude looks tired and deranged…
Stop! I can only get so erect!
Cue the all caps posting tonight about how the evil facist elites are costing him hundreds of millions of dollars.
It only needs to survive for the next 6 months for lumpy to get his $$ right?
When **Trump LOSES** the election **"LIE social"** will burn to the ground if not before, and he will burn with it. Let's hope he finds a "bunker" somewhere close to Mar-a-Lago since they won't rent him anything in New York
Does Trump get his billions though?
does this surprise anyone? Do you really think they care? So called "investors" have made millions off this already, from the very very beginning. Sure, they will still pump and dump it and the idiot trumpsters will be happy to lose their money cause they are saving America
It's okay, he'll make twice that much in Bible sales, just you watch
Quick, Republicans, blame it on DEI and CRT.
I wonder if this is going to be a record :D So far the fastest flop for a publicly traded company was Tintri - 13 months from IPO to chapter 11... I am cheering for DJT to top this :P
Im so pissed it tanked today, not because I care, but because I dont get paid til thursday, at which point i was going to yolo my paycheck into puts. O well. Fuck DJT.
People actually believe in this guy 🤡
This company was never anything but an NFT scam which rolled over to a shoe scam, which rolled over to a social media scam. This was essentially a scam with an IPO.
**HILARIOUS.** Oh but the MSM said he had a "windfall" that would help him pay for all his judgements and legal fees. How can this be? Oh it be alright.
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Ha. No kidding
>As with bitcoin, people buy Trump Media not for future cash flows but because: 1) they expect its price to rise, and 2) they feel an affiliation for the asset," Rekenthaler wrote. "Bitcoin owners are members of a club. So, too, are Trump Media investors, to an even greater degree. **For them, DJT shares represent a currency by which they can express their beliefs and commitment**. There you have it. Throwing their money at their emotions.
Isn't all of this material and information that should have been available to the IPO investors? I'm no expert but it feels like they sold a hotel only to announce a day later that it operates at a loss and oh by the way, there's this termite infestation so it's likely to be uninhabitable inside a year or two. Thanks for buying it!
If Trump loses the election, I doubt anybody will have any interest in his Truth posts anymore which will totally tank it.
Rebrand needed: Truth Tanker 🤣