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

They have complete faith in him on so many things, what’s one more?

 

It's amazing they financially back him. It's one thing to hate Democrats so much you'll vote for him no matter what. But to just set your money on fire for him is bonkers. They truly believe, and that's so wild to me.

 

^This. What does he have, close to 100 million shares? Over 50% of the float.....


I still say though; IMO this thing will bite some shorts in the a-- a few times before dying like a sick animal. There will be large funds lining up to pay their bribes by "investing". Foreign governments too.

And just think if he wins? That's the value of this - a call option on his ability to grift. How many companies and pillow manufacturers will be lining up to buy ads on TruthSocial once the Grifter-in-Chief announces that all presidential communication will be done there. He might try to or be able to force elements of the govt to only use that platform.

The grift will be fascinating.



Edit : He might be able to convince Elon Musk to buy it. He'd potentially be able to "reimburse" Musk with $5-10 billion worth of govt contracts. Who knows. Essentially, we'd be paying Musk to......pay Trump. Boo. Will be fascinating.

 

Thrilled to see that I'm incorrect on this so far.

 

Woof. Down 16% today.

 

I suppose this is how you take advantage of a massively over-inflated company valuation. Who cares if the new issuance tanks the stock 15%? Even at that level it's still significantly overvalued and at least they can squeeze some money out of it.

 

It's because, in their extremely moronic view, he is one of them.
You have to hand it to Trump, he wouldn't piss on his supporters if they were on fire. But they believe he is one of them.

 

Isnt the SPAC supposed to be flush with cash coming into the merger? Normally an IPO raises cash, but these SPAC mergers are still supposed to bring operating cash to the table. They can’t even go two weeks without needing more ?

Gee, where’d all the money go.

 

What a read.

 

Weird to file a stock issue.

Trump’s Truth Social Holdings Down To $2 Billion As DJT Stock Crashes Again

The Monday selloff came after Trump Media filed to issue as many as 146 million new common shares in the company and another 21 million in warrants (the rights to purchase shares at a certain price), and it would severely dilute existing shareholders’ stakes considering the company currently has only 137 million shares outstanding, about 79 million of which belong to Trump.

 

Just to make my point further on how insanely overpriced this stock still is, its earnings were 4 million dollars. It’s valued at 3.7 billion dollars even with today’s downturn. That’s almost a 1000 to 1 ratio. The average on the Nasdaq is 6. So it 160 times overpriced still. And that’s before talking about whether anyone actually believes it’s a viable long term company.
And yet his rubes are still buying in based on little more than faith in him. It’s comical how many times and ways he has gotten them to lose money for him. And they keep coming back.

 

Makes you wonder if he has a painting or a statue of PT Barnum in his home.

 

Fool me 817 times, shame on me?

 

From the article:
That nest egg has lost about half its value in the past two weeks as Trump Media & Technology Group’s share price dropped from $66 after its public debut last month to $32 on Friday. But McLain, 71, who owns a tree-removal service outside Oklahoma City, said he’s not worried. If anything, he wants to buy more.
“I know good and well it’s in Trump’s hands, and he’s got plans,” he said. “I have no doubt it’s going to explode sometime.”

I am moved to empathy for these folks. Mr McClain, who invested his entire nest egg, may well need to be trimming trees until he’s 90.
Reading the comments of these retail investors reminded me more than a little of comments I have read from Qanon defenders and it’s sad.

 

OMG...At 71 years old this dude puts his modest nest egg in a highly speculative stock? Vegas might have been a better bet.

 

I agree - much better odds in Vegas but he believes- he really believes in trump- despite trump’s previous bankruptcies and his fleecing of his casino company as it went belly up. Paid off bigly for trump, sucked for the investors. Same happening here.

 

I’ve got to husband my empathy these days after I ran out my annual stock of thought and prayers in February. He doesn’t get some…

 

Yeah, I was thinking that some folks somewhere probably dumped their portfolios into this and will end up losing most of it. Quite sad