politics @lemmy.world Rapidcreek @lemmy.world 6 mo. ago

Trump’s Social Media Company Posts Q1 Revenue of $770,500 and Net Loss of $327.6 Million

variety.com 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.

53 comments

This stock went down faster than Boebert at a musical.
- And yet it's still valued at nearly $50 per share
  
  It’s not so much a stock investment as it is a gofundme with extra steps.
  
  It almost like there's a very public way to funnel money into a company via the stock market in order to gain favor with it's operating board...
  
  And that's because it's up over 200% from its low at $22. With these financials the "free market" decided it was a heavy buy. It's some combination of meme stock and corruption vessel. Trump gonna get elected and we'll all be fools for not taking our cut as the bribes really flow in. Unlikely Trump even "steps away" from his businesses next time. He'll be (openly) taking private investor meetings in the Oval Office before deciding their government petition.
  
  Its a bet a lot of people are making. If Trump wins the shares of this stock are probably going to the moon to borrow a phrase. Truth social will be where the President of the US is. Users/advertisers will move there initially I think, until they realize it is somehow worse than Twitter. It will also be, and probably already is, a way to subvert campaign finance laws and donate "directly" to Trump.
  
  The price is artificially high becuase of people making this bet. If Trump loses this goes the way of Trump steaks, Trump vodka, Trump University, etc. If he wins, these people may literally make money hand over fist.
  
  Which is exactly what I would pay for a Bobert bj at a musical.
  
  Only the best shareholders. Very great. More and more.
  
  That's more than Intel.
- (or a bowling alley)
  
  Or trailer park cookout
- Talk trash all you want but skiing, casa bonita, and handies from bobo the clown are what make colorado great. Its how we spend our weekends.
  
  Don't mind me, I'm still pisssed the Nuggets blew a 20 point lead. In fact, that was the first comparison I was going to make.
- No it didn't
Nothing suspicious about this stock at all, no sir!

You see that dip, where the stock starts to go back up? You know what Truth Social did that reversed that trend?

Not one god damned thing.

But you know what else was going on then? That was right in the middle of the "if DJT stock stays above $30/share for 20 out of 30 days, Trump gets a shitload more money" window. Almost like someone started manipulating the stock so Trump would get money and maybe owe some favors...
- Look at their 10Q. The majority of their loss was from revaluation of derivative liabilities. If anyone with more Equity Research experience cares to look at p. 14 and care to explain further.
  
  It seems like bullshit to me
  
  I’m no money scientist, but is that the thing where they decide it’s worth more? So they can sell it for more money, the thing Trump has been known to do? That thing?
- Jeff Yass' hedgefund is playing a big role in this
I'm actually a bit shocked that the revenue is that high.
- Has to be money laundering. There's no way their operating costs are over $1B on a shitty Twitter clone with very little traffic
  
  I think you added a couple of 0s to the revenue. Cause nothing is close to $1b here.
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?
- 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.
  
  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.
Who the fuck is giving them loans? They have to know they aren't getting that money back, right?
- People who seek political favors if he gets into office.
  
  It makes a lot more sense when you replace the word loans with bribes.
  
  Those people are delusional.
- Jeff Yass and his corrupt hedge fund, for one.
the stock market is a fucking pathetic joke, just like our legal system
- We knew that before this
  
  That’s what the Gamestop thing was about
A loser produces losses. Who would expect that?
Please tell me this is the stock that is his namesake.

Edit: fuck yes it is
LoL
Loser ? You're Fired ???
- Loser! You're fired!!!
so it's performing better than most Trump businesses?
He's a GREAT BUSINESSMAN!

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