DJT shares tumble 13% as Trump Media stock sell-off accelerates
DJT shares tumble 13% as Trump Media stock sell-off accelerates
Trump Media shares are down about 40% since a New York jury found Trump guilty of 34 felony counts of falsifying business records on May 30.
Don't worry a mystery investor will come and put billions in Trump's pockets anytime now.
Again.
Don’t worry a mystery investor will come and put billions in Trump’s pockets anytime now.
Are you suggesting that there was actually no need to spend $8 billion to build a site comparable to lemmy?
Ya, the Ruble is falling against the dollar again, so of course this happens.
Roughly 3 months to go in this game of hot potato before Trump can sell his shares without special permission from the board.
He can probably get that permission by twisting arms.
The stock market is a voting machine not a weighing machine….
I’m amazed that any investor is buying for the long term. People buying are only propping up trump. There are no fundamentals it has only ever lost money.
So yeah some people speculate on it. Or to prop him up
Run Away!!!
Different take:
In other words, Buffett specialized in finding “undervalued” issues on the market. Such opportunities arise occasionally, he says, because in the short run the stock market acts like a “voting machine” (reflecting all kinds of irrational attitudes and expectations), while functioning in the long run more like a “weighing machine” (reflecting a firm’s true value).
https://quoteinvestigator.com/2020/01/09/market/?amp=1
Either way, DJT is a shorting opportunity.
TIL Trump's media is still in business. I'm surprised it lasted this long. I guess there's stupid people in every field.
There is no shortage of stupid people. Explains why a tool like donnie even had that ridiculous game show given to him, and also how he managed to win the Electoral College and slither into office.
There will always be stocks for gullible people. I remember when they IPO'd the national telecommunication company in my country. You were practically bombarded with ads from all sides to buy shares. My stance was that if they have to peddle the stock to the public that way, they probably did not find sufficient interest in professional circles for a reason.
The stock was then IPO'd at about €15 and shot up to over €100 in a few months. My coworker was quite thankful later that I frequently reminded him that the overall evaluation of the company only supported a value of about €10 per share. He sold at €100. It peaked at €102, and then fell down to €12 or €13. Over the last 30 years, it managed to slowly climb to €22 now, with no more significant peaks.
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your share price is wrong, its $31.06 right now down from $34.72 at opening today (about 11.5% down). Hopefully it'll be down to less than a penny before Trump is allowed to sell them, that would be amazing. It was down to $30 earlier (about 13.6% down), but its rebounding slightly on people buying the dip so they can lose it tomorrow as it continues to drop. Less than a month ago (May 30) it was up to $55/share, so in 2.5 weeks its dropped 43.5%. From its High of $66.22 on April 25, its lost 53.1% of its value. So less than 2 months it lost over half its value, lets hope it loses the other half in the next 2 months.
Edit: 2 days later and its currently down 58.82% from April 25 to $27.27 a share, so it lost 4 bucks in 2 days already. Lets-a-go, if it keeps this pace it'll be worthless by next weekend. Though its highly unlikely that will happen that quickly, likely going to see some pumps and dumps and rebounds while steadily keeping the trending direction.
113M shares times $31/share is $3.5B.
That's wild. No way the company is worth that, much less his share.
Didn't they at least raise $500 million or something?
It's not a totally worthless company. Honestly, the point we should celebrate is when it drops below the value of the $$$$ that was pumped into the stock. The IPO and SPAC rised nearly $500Million so the company officially loses value at around $6/share or so.
$31.16 USD each.
I keep checking about once per week. I saw this earlier today and felt pretty great about it. I feel bad for the rubes who lost their savings, but I can’t be responsible for their inability to spot a con.
I don't feel bad for them. They're supporting a rapist convicted felon and traitor.
Blyat!
Gosh, that's so sad.
So sad. Well, anyway. How's the evolution thing working out for ya? Seems pretty popular conceptually.
🤞🍿
It's soooo low! buy buy buy!
/s don't buy people.