Trump's Truth Social loses $4 billion in value in one week, while revealing wider loss
Trump's Truth Social loses $4 billion in value in one week, while revealing wider loss
Trump's media company is now trading below its opening stock price. The company on Monday disclosed mounting losses.
People are starting to realize everything he says is a joke? I can't imagine actually trusting an investment to anything he touches.
No, people do not. Roughly 50 % would still vote him.
remember, less than 50% of people who voted voted for him. Over a million more people voted for Hillary than Trump. Largest loss in both % and people in history, I think (for a winning presidential election).
Trump Steaks? No?
One more overvalued trump property. Are we surprised?
Benefit with this one is everyone can short it once the option trades become available
I am a bit surprised. I figured it would be an easy way for fat cats to pay off Donnie's massive debts and make him look like a big shot.
I'd love to be the fly on the wall when the top GOPs meet up with the main donors.
It feels like someone is pumping the stock up.
Not your average small business owner either, someone with weight is basically defying every metric of long term/short term investment on a stock that has done nothing but depreciate in value over the past year.
On a product, no one uses.
And said, "That's worth at least as much as Amazon."
Trump selling truth social stock was so that foreign entities could legally give him money so he could pay the bail for the NY case.
he cant sell any, hes lokced to it for 6 months
Doesn't need to, it's asset that can be used for collateral.
Holy shit I didn't realize it was worth that much that's crazy
It wasn't.
Like everything trump touches, it was ridiculously overvalued
he's like king midas except instead of gold everything just gets slathered in shitty bronzer
So he has no way of cashing out?
Not for six months
Unless their board approves an earlier date.
6 months is the standard.
But the whole thing is a shit show. John Olivers show last night was on it.
Edit:
I actually put that episode on, saw this article, and like 10 minutes in this article is basically a summary without all the jokes...
This is the best summary I could come up with:
Former President Donald Trump's fledgling media business is losing its sheen among investors a week after going public, with a sharp reversal in the company's stock price lopping $4 billion off its value.
The plunge in Trump Media & Technology Group's shares, which debuted on the Nasdaq Composite Index on March 25 under the ticker "DJT" (after the former president's initials), comes as it disclosed mounting losses in a regulatory filing.
Shares of Trump Media & Technology Group, whose primary asset is the Truth Social platform, tumbled $14.50, or 23%, to $47.46 in Monday afternoon trading.
To be sure, Trump Media continues to maintain a heady market capitalization for a business that's in the red and that booked just $4.1 million in revenue last year.
Yet Truth Social has positioned itself as an alternative to more established tech giants such as Meta's Facebook, which also endured losses in its early years.
"GameStop was the meme stock of a lifetime, but Trump Media has put it to shame," Michael Pachter, an analyst at Wedbush Securities, told the Associated Press last week.
The original article contains 401 words, the summary contains 179 words. Saved 55%. I'm a bot and I'm open source!
How is a mastodon instance assigned a value?
rip bozo, lmao. looks like you cant sustain a social media network around a personality cult around some wet old dude.
Looked like it was enough to get him bail, though
Not bail specifically, it's a bond. A bail keeps you out of jail until a court judgement has been made, a bond keeps the court from taking your assets away to pay off a debt (including from a previous judgement). The bond is held by the court until appeal is over, then given to the winning party when the final judgment is in.
What is the antonym of ‘go woke go broke’ pls?
MAGA brain, Capitalist pain. Or just Capital pain
Go fash lose cash
Turn altright feel the plight
Do people actually use that?