C'mon now, it's only $46 a share! Get your Trump Media and Technology Group Corp. stock (NASDAQ ticker symbol "DJT")!
It's down from a high of $79 a little over a week ago, when it was first offered for sale to the investing public. But it's such a great deal that short sellers are having a field day on this stock.
Meanwhile, Trump himself is suing Wes Moss and Andy Litinsky, who co-founded Truth Social with him. Trump claims that Moss and Litinsky mismanaged Truth Social and should therefore be deprived of their shares. (Is there a more Trumpian story than that?!)
Here's an illuminating and amusing report on the unfolding dumpster fire that is the sale of Trump stock:
www.msnbc.com
For those Trump Cultists who are disinclined to click on the above link and read the full story, here are a couple of salient excerpts:
When the stock was first offered a week ago, retail investors rushed to scoop up shares in an intense day of trading. At one point the price of a share exceeded $79; eventually, the stock closed the day at a still-lofty $57.99 (exactly two dollars less than the price of the God Bless the USA Bible Trump is also hawking). The news was full of stories trumpeting the dramatic increase in Trump’s wealth; with the company valued at $8 billion, his shares gave him an extra $4 billion on paper. But on Monday, documents filed with the Securities and Exchange Commission showed that the company lost over $58 million in 2023, with just $4.1 million in revenue. The latter number is about what a single Shake Shack restaurant brings in each year. In a note included with the filing, an independent auditor said “the Company’s operating losses raise substantial doubt about its ability to continue as a going concern.” By the end of the day, the stock had fallen by over 21%.
Trump Media would hardly be the first technology company to attract investment with little apparent path to profitability. And making money with a right-wing version of Twitter was never going to be easy. CNN reported that Truth Social’s mobile user base has shrunk 39% in just the past year; though the company has not released any user data, industry analysts estimate the number of monthly users at around 1 million, a minuscule number compared to sites like Facebook and X. That may be because a social network devoted to trolling the left just isn’t all that fun if there aren’t any liberals on it. If you "own the libs" but the libs don’t know they’ve been owned, have you really owned them at all?
LOL, YCMTSU.
It's down from a high of $79 a little over a week ago, when it was first offered for sale to the investing public. But it's such a great deal that short sellers are having a field day on this stock.
Meanwhile, Trump himself is suing Wes Moss and Andy Litinsky, who co-founded Truth Social with him. Trump claims that Moss and Litinsky mismanaged Truth Social and should therefore be deprived of their shares. (Is there a more Trumpian story than that?!)
Here's an illuminating and amusing report on the unfolding dumpster fire that is the sale of Trump stock:
Opinion | Trump Truth Social investors are happily getting scammed to own the libs
When the price crashes to earth, they’ll thank Trump for the privilege of being shaken down.
www.msnbc.com
For those Trump Cultists who are disinclined to click on the above link and read the full story, here are a couple of salient excerpts:
When the stock was first offered a week ago, retail investors rushed to scoop up shares in an intense day of trading. At one point the price of a share exceeded $79; eventually, the stock closed the day at a still-lofty $57.99 (exactly two dollars less than the price of the God Bless the USA Bible Trump is also hawking). The news was full of stories trumpeting the dramatic increase in Trump’s wealth; with the company valued at $8 billion, his shares gave him an extra $4 billion on paper. But on Monday, documents filed with the Securities and Exchange Commission showed that the company lost over $58 million in 2023, with just $4.1 million in revenue. The latter number is about what a single Shake Shack restaurant brings in each year. In a note included with the filing, an independent auditor said “the Company’s operating losses raise substantial doubt about its ability to continue as a going concern.” By the end of the day, the stock had fallen by over 21%.
Trump Media would hardly be the first technology company to attract investment with little apparent path to profitability. And making money with a right-wing version of Twitter was never going to be easy. CNN reported that Truth Social’s mobile user base has shrunk 39% in just the past year; though the company has not released any user data, industry analysts estimate the number of monthly users at around 1 million, a minuscule number compared to sites like Facebook and X. That may be because a social network devoted to trolling the left just isn’t all that fun if there aren’t any liberals on it. If you "own the libs" but the libs don’t know they’ve been owned, have you really owned them at all?
LOL, YCMTSU.
