Trump’s Social Media Company Posts Q1 Revenue of $770,500 and Net Loss of $327.6 Million
Trump’s Social Media Company Posts Q1 Revenue of $770,500 and Net Loss of $327.6 Million
Trump Media and Technology Group reported $770,500 in revenue for the first quarter of 2024 and a net loss of $327.6 million.
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How is it still a thing when the losses are that high?
More than one conservative person has gone on TV and explicitly said, this Truth Social thing is great because you can funnel money to Trump just by buying some of the stock, and it's perfectly legal and more or less completely secret.
How does the money go to him when you buy the stock?
The value of the stock finds its own natural balance based on supply and demand -- he has like $5 billion worth of shares, but he can't sell it and get anywhere near that much money, because the value will plummet if he starts selling in any big amount. But, if people are buying the stock, then the value goes up, and he can sell some, and the value will level off back down, and so on.
Basically the dollars that get spent on this stock that has no real inherent value will get routed into a big inflatable balloon of money to blow it up a little more, and then Trump can take some out, and the balloon will deflate a little but still maintain enough pressure that the balloon survives. The dollars that went in don't need to be the same dollars that came out for the system to still work that way.
- People using this stock to buy off a political candidate
- Conservative cultists who are continuing to invest, despite clear the clear evidence that they’re being fleeced. But this extends beyond DJT stock.
What I want to know is how you figure out the value of a company with those numbers.
You mean actually or performatively?
Performatively, the market fluctuates, etc etc.
Actually? Oh yeah no one’s getting a dime outta that meth lab explosion. If you wanna try fleecing suckers briefly, good luck.
Thing is that you can use math to find actual value. But, if I warmed up a financial calculator and follow the steps, I'm pretty sure this company has negative actual value, and that's saying something since even companies with no assets and revenue have small value.
It’s nothing more than tulip bulbs. Value is only going up because people are expecting that MAGAts are willing to buy at a higher price.
It is also a way to funnel money to Trump.