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Trump Media/Truth Social and DWAC merge under the new ticker DJT...

Discussion in 'Too Hot for Swamp Gas' started by WarDamnGator, Mar 25, 2024.

  1. snatchmagnet

    snatchmagnet Bring On The Bacon Premium Member

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    You could absolutely be right. Hedges are a gutsy bet. Be careful
     
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  2. docspor

    docspor GC Hall of Fame

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    My wife is a finance prof & teaches courses on options trading, etc. We've never shorted a stock in our lives, bought options or hell, I caint 'member the last time we even bought an idv stock. The stock mkt is pretty efficient. Successful traders trade in thin, info poor mkts.* The line on shorting is, "yeah, I can tell when a stock is over-valued, but I caint tell when everyone else thinks it's over-valued."

    * excess plane & ship cargo capacity, pipeline capacity, refinery capacity, etc. 'ats where the money's at & the assholes aint
     
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  3. tampajack1

    tampajack1 Premium Member

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    I don’t think so.
     
  4. tampajack1

    tampajack1 Premium Member

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  5. tampajack1

    tampajack1 Premium Member

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    Speaking engagements and books.
     
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  6. tampajack1

    tampajack1 Premium Member

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    Call your stockbroker.
     
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  7. snatchmagnet

    snatchmagnet Bring On The Bacon Premium Member

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    He’s funny and all, but that’s a lot a cash to accumulate for his type humor.
     
  8. ingor7

    ingor7 Premium Member

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    I heard that currently you can’t borrow shares of DJT and therefore can’t short the stock. Might be part of the reason it’s done so well so far.

    “Betting against former president Donald Trump’s social media startup is one of the most difficult and expensive short trades in the market, according to financial analytics firm S3 Partners.

    Investors tempted to bet against Trump Media & Technology Group Corp. are facing annual financing costs to borrow the shares of more than 150%, and risks that the stock’s meme-like volatility and loyal fanbase could burn them even more. The newly-public company is the most expensive US stock to bet against, with over $100 million of short interest, S3 data show.”

    Huuuge Short Losses in DJT- DWAC Rally
     
    Last edited: Mar 26, 2024
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  9. WestCoastGator

    WestCoastGator GC Hall of Fame

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    Do you have a brokerage account? If not, you might consider setting one up at TD Ameritrade, for example. Super low fees, no minimum account requirements. Shorting is easy from the options you'll have available to you through the brokerage service. Or you can work with a broker at pretty much any of the big banks, but you'll pay significantly more in fees to do so than if you handle it yourself.
     
  10. WarDamnGator

    WarDamnGator GC Hall of Fame

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    after getting a nice bump after the merger hopium …. Down 22% today after reporting earnings, because like all Trump companies, Truth Social lost 10s of millions of dollars last quarter….

    I hope Big Cypress got his shorts in….
     
  11. G8trGr8t

    G8trGr8t Premium Member

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    lost $58M with $4M in revenue, down 25% today, headed to zero. can't find shares to short,

    can djt lend his shares to short the stock and capture revenue that way without board approval?
     
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  12. WarDamnGator

    WarDamnGator GC Hall of Fame

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    This company has a market Cap of $6.2 Billion on $4 Million in revenue ... seems like it has a long way to fall ... but I'm not sure I'd short it even if I could. Meme stocks defy logic and fundementals.
     
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  13. BLING

    BLING GC Hall of Fame

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    It’s actually crazy a company with only $4 million in *revenue* can be listed on NYSE. It’s a joke.

    Yeah during the tech bubble back in the 90’s they more commonly listed pre-revenue companies (many of which were stillborn). Maybe some biotech or drug stocks are pre-revenue and trade almost as a binary option (depending if they can actually bring the drug to market), but it’s very much the exception not the norm nowadays.
     
  14. VAg8r1

    VAg8r1 GC Hall of Fame

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    It's listed on the NASDAQ not the NYSE. I guess the rules for listing on that exchange are different than the rules for NYSE.
     
  15. GatorJMDZ

    GatorJMDZ gatorjack VIP Member

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    “As of December 31, 2023 … [Trump Media] management had substantial doubt that [th company] will have sufficient funds to meet its liabilities as they fall due,” the company said in its filing. The company also wrote that it has serious doubts that, at this rate, it will continue to stay in business."

    MSNMSN
     
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  16. PacificBlueGator

    PacificBlueGator All American

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    I see a pattern here
     
  17. PITBOSS

    PITBOSS GC Hall of Fame

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    you called it. Were you able to get a short in?
     
  18. WarDamnGator

    WarDamnGator GC Hall of Fame

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    I just know that Trump wants to sell so badly here, get every dime he can out of it, send the stock price to pennies, and leave his supporters and investors as the "bad holders". It's actually funny that he's reportedly locked in for 6 months and that gives time for his investors and true believers to come to their senses.
     
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  19. BigCypressGator1981

    BigCypressGator1981 GC Hall of Fame

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    I did. Just in time. $$$
     
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  20. philnotfil

    philnotfil GC Hall of Fame

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    Trump Sues Co-Founders of Truth Social Media Company Over Shares

    Donald Trump has sued two co-founders of his newly public Trump Media & Technology Group Corp., claiming they set the company up improperly and shouldn’t get any stock in it.

    In the latest legal skirmish over who gets how much of the hot but flailing meme stock, Trump alleges that Andy Litinsky and Wes Moss violated an agreement about the setup and don’t deserve their 8.6% stake, currently valued at $606 million.

    The lawsuit, which was filed on March 24 in Florida state court and hasn’t previously been reported, comes after the pair brought their own suit against the former president in Delaware Chancery Court over their promised stake in the social media company.

    The legal fight is playing out amid wild swings in shares of Trump Media, which began trading last week after it merged with a special purpose acquisition company, known as a SPAC. The stock dropped 21% Monday after Trump Media disclosed in a securities filing a $58 million loss and a relative trickle of revenue for 2023, and reiterated a warning that it needed the money from the SPAC deal to keep operating.
     
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