Trump Media shares halted again as DJT falls in volatile trading
Trump Media shares halted again as DJT falls in volatile trading
Donald Trump is the majority owner of Trump Media, which owns the Truth Social platform and trades on the Nasdaq as DJT.
Saw this somewhere else:
For those not familiar with the stock market, this was clearly telegraphed when his media company used a SPAC.
When a company goes public (IPO), they have to file with the Securities and Exchange Commission. The process is pretty rigorous and has standard forms that you need to fill out or hurdles that you need to get over: Company financials and future growth strategy Corporate governance
Risks and issues both internal and external Lots of stuff on tech readiness, vulnerabilities and the like.
The bigger the company the harder this is to do correctly, and the more external companies you'll need to verify and underwrite your findings. But let's say you have a poorly structured company you want to take public. DodgyCo will never get through the IPO gauntlet, so you create a Special Purpose Acquisition Company (SPAC) called CleanCo. They have fantastic technology methodology, a strong board and TONNES of funding. CleanCo sails through all the SEC gates and Monday morning they go live on the stock market.
Monday afternoon CleanCo buys out DodgyCo, effectively making DodgyCo public without the hassle of actually having to operate like a grownup company.
This is what Trump Media Company did.
Just let it fall, stop halting it. Let the market decide!
This is what really pisses me off about the stock market. It's all free market capitalism until it goes bad then suddenly people are concerned with the knock-on effects.
They do this on the way up too. Sometimes a little breather is enough to save some pensions.
No no, too many rich people might lose money then.
.
I could have sworn I just saw an article touting that Trump Media was now worth more than X though? Can someone ELI5?
So still double what it was at the beginning of the month...
You might not feel like that looking at the graph, because:
Graphs that don't start the y axis at 0 are shitty at conveying information
And I'll keep complaining about them as long as people keep doing it.
Every one of these stories about DJT stock in the month of October has been missing the same subheadline. "Stock price dips to what is was at a few days ago, then quickly recovers." Which can probably be read as "Whale cashes out, Quiltists fill in the hole."
There’s no evidence it’s quiltists. That kind of blanket statement has no place in this debate. It could be someone else trying to fleece investors before they cotton on.
Welcome to American journalism...
Where the focus is on clicks/profits unless a billionaire bought the company to convince people billionaires aren't the problem
Yep, no matter what it is, you know the presenter is being dishonest with information.
Rest easy now, friend. The battle is over.
One screenshot was from the other day when it happened (cropped), the other is from today(uncropped). All I can tell is it's a very volatile stock and people are gambling on it for short term gains.
As soon as it's clear Trump will not be returning to the White House, the value of the stock will plummet to near zero. There will be a few dead cat bounces, but it will go away for good once Harris is sworn in
