Former President Donald Trump has sued the co-founders of Truth Social, alleging they mismanaged the social media platform early on and should therefore lose their stock in the company, which recently went public.
If mismanagement is enough to prevent someone from owning stock, Trump should not own a single share of anything.
there are always the people in every horror movie who think that if they deliver their friends into the open drooling maw of the monster stalking them, they'll get a reward.
the "reward" is usually at least as bad as their friends' fate. it's just narcissism really. they think they're more like the enemy than they are like their friends, so it would be natural to spare them. but they're all just meat to the monster.
trump is just a shitty xenomorph. small hands instead of small mouth, and substantially less physically threatening. I think they both probably have the acid blood though.
I don't feel bad in the slightest. Everyone knows Donald is a sociopathic grifter. These guys wanted to run a con with him and got burned. I hope their lives are full of misery.
He's been defrauding contractors, backstabbing, and throwing people under the bus for decades. Even a grifter would have to be high as fuck on pure greed to have any business interaction with Donald.
It's hilarious that these scammers also received an inevitable betrayal. I hope they lose all their money and the stock crashes before Donald can get anything significant out. What a delight to see any of these lying con men lose it all.
Yes, truth social is completely impossible without trump. Nobody could possibly spin up a mastodon instance without a former president backing you. Just absolutely unheard of.
So Trump Media is operating on a revenue stream of 4 million a year, and is reporting a yearly loss of 58 million. How the fuck is that company's stock rated at $60/share?
He overvalued it like he does everything he owns. The same thing he already got in trouble for in new York. This time it's with a fake tech company instead of real estate.
Share price has never really been a representation of company health. Shares are traded at what people will buy them for. There also may be a lot of short selling going on waiting for the plummet.
I wouldn't be surprised if it's just like essentially "Trump Bitcoin." Effectively worthless but he's got a gigantic pool of people who will throw money at him.
Wait until all the rubes who bought stocks find out that they're next. The fine print actually says that your stock purchase is actually just a non-refundable donation to the Donald J. Trump legal defence fund.