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

Wasn't Trump given around 60m by his dad in 1975? What's the genius of him being wealthy? If he put that cash into the s&p, it would be close to the 14 billion, substantially more than he currently has.

Hell, if he got out of his own way, he would be seriously wealthy and not have to grift the rubes.

 

Correct me if I'm wrong the point that you were try to make was that Trump's stunt of monetizing a social media platform that has never made a dollar and probably never will is analogous to the income earned by Obama and Biden through speaking fees and book royalties. The difference is that unlike "investors" in DJT who have been conned into investing in shares in a company that has never made money and will likely end up as worthless purchasers of books written by Obama or Biden and the organizations that paid their speaking fees knew exactly what they were buying.

 

And Obama's books' were written by himself and I have found well written with valuable insight into his life and politics. That he became and remains a notable and popular public figure obviously increased interest in them and in his speaking engagements.

 

It wasn't my intent to compare purchasing and selling a speculative stock to purchasing a book or paying to hear a speech. I'll see my way out of this thread. I ended up attempting to defend someone I don't support and is extremely unpopular on this board. That wasn't my internet when I opened the thread either. Hell, if I knew it wasn't an ipo, I wouldn't have posted to begin with. Ha.

 

Another plummet today, By the time his shares come out of lockup they might be worth 5-10$ each, but that doesn't mean his 78M shares will be worth hundreds of millions of dollars: Within a few minutes of the open on that day, all newly unrestricted insiders will be stepping on each others' asking prices and limit orders and the stock will lose most of its remaining value before any of them can make a big dent in their holdings.

Stock will be a penny stock long before the election. It will be delisted from NASDAQ shortly afterwards and will end up on the OTC market at under a dollar before merging again with some scammer looking for a publicly traded shell with no assets.

Another Trump scam will have gone tits up.

 

Was down another 8.5 percent today.
What will be interesting is what happens when you start to get to around $30, that’s where some of the early short sellers might start cashing out. Will things abate, or will more short sellers jump in and create a new round of downward momentum? Because even with the cratering, it’s still insanely overvalued. But at some point Trump supporters could step up and stop the bleeding to protect him, which is a big risk for the short sellers. I think it will start to get interesting over the next week or so.

 

To stay on this off topic, a girl in my kid's day care has a last name "Quackenbush."

I pity that poor child in her middle school years.

 

Heard two shareholders he is suing have won right to go to trial to sell before lockout period expires. Don't have subscription to Barons but something about Trump diluting their value. If so the shorts will be delighted.

more tankage ahead. Bigly. At the end all Trump will have is nice copies of share certificates to frame and hang by his Time POY covers

 

He isn’t even an American. I do find that very interesting.

 

Good post Gordo. You touch on fundamentals (overvalued), technicals ($30 P and short sellers), and intangibles (MAGA might help).

 

Now tell us how dirt poor Dems are becoming multi-millionaires in congress.

 

They need board or court approval to get out of lockup. Don't see either happening. Only thing keeping it up is the lack of shares on the market

 

They aren't.

 

Trump Media's accounting firm has a 100% deficiency rate from audit watchdog

Donald Trump’s social-media company just became the most valuable publicly traded client of an accounting firm that has more experience auditing companies traded over-the-counter and has had a string of regulatory issues, including a 100% deficiency rate on audits reviewed by a US watchdog.

 

This may bring trump down. Pump and dump is something the sec doesn’t play with.

 

Could you have made a statement any less pertinent to mine?

 

Careful what you ask for.

 

Down around 5 percent today. At $32 and change. Might get to that resistance point today at this rate.

 

Finished there too.

Trump Media shares close down more than 5%, latest grim day for Truth Social owner
https://www.cnbc.com/2024/04/11/tru...are|com.apple.UIKit.activity.CopyToPasteboard