The fact trump owns (was gifted) 70% of the total shares and the vast bulk of the insider shares is in fact anomalous versus other real companies shortly post- their IPOs.
But IMO that’s mostly irrelevant to the question of “company value” or of share price in the near (as in weeks) term.
The anomaly that matters for share price for this particular oddball “company” is the institutional / individual mix. And the short mix. And all of those are signalling a bloodbath for the clueless.
A few more specifics on the BoD and their lock-up agreements can be found here.
It’s also worth adding that the DJT volume is very high compared to the rest of the market – the drop has a strong bias. Today’s DJT volume was almost half GOOG (7M vs 15M), but there are 88x more GOOG shares.
Excellent point. Thank yuo.
All of which is consistent with day traders trying to make a killing. Or lining up to be killed by their betters.
IIRC (no cite): While the Reddit WallStreetBets people who meme stocked GameStop caused trouble the professional investors got their money back and then some in the end.
Kinda like a high school football team pulling off a trick play on a pro team. It worked, pro team was embarrassed, and then the pro team kicked their ass.
Looks like it popped 16% today. Not sure why.
Might just be a Dead Cat Bounce. Hard to tell in isolation.
Jimmy Kimmel’s comment:
“If you bought Trump stock two weeks ago ― and shame on you if you did ― you lost half your money,” Kimmel said. “But if you hold on just a little bit longer, you might be able to lose all of it.”
Reminds me of some Vegas comic’s primer on playing craps:
First you put your chips on the areas that represent the bets you want to make. Then a player rolls the dice, then the nice casino worker takes all your chips. See? Easy to play!
DJT was up 15% yesterday and looking like it again today.
I have to say, this really baffles me. What can we know (if anything) about who is buying?
If someone wealthy were buying to curry favor, are the reporting rules that would come into play?
I like the alternate name for a Dead Cat Bounce: “Sucker’s Rally”.
I have no idea whatsoever about what’s going on, but it might be vaguely related to a perceived support level simply because it got so cheap relative to the issue price. Very often when traditional stocks that are sinking hit established support levels, they don’t just sink right through them but instead the stock chart literally traces out a little bounce or two before the plummeting resumes. It could also be a lot of short sellers deciding this was a good time to close out their positions.
We’ll see. All I can say is I wouldn’t touch that stuff with a 20-foot barge pole.
It might be the next lower tier of MAGAts, who couldn’t afford it at $60, but are now getting in on the action.
It’s up about 25% on the day right now, trading at ~$33.19. Down about 0.6% in after-hours trading.
This is going to be fun to watch!
Trump Media is making a point of telling its shareholders how to prevent their stock from being loaned to short sellers.
is there any indication of “buyer’s remorse and/or fuck Trump for screwing me over” on the right-wing boards? anybody know?
From what I’ve seem, the Flav’r Aide is still flowing. Anyone losing their shirt on this will ultimately blame the Democrat short-sellers, not their Truth-telling hee-ro.
Paywalled but if you can access it (Barron’s):
DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation.
Trump Media & Technology Group was rising Friday after a surge the previous day. Despite the gains, the company’s chief executive has claimed the stock could be the target of market manipulation.
Weird their own CEO is saying that.
Weirder and weirder:
Billionaire Ken Griffin’s Citadel Securities has called the former congressman who runs Donald Trump’s media business a “loser” after he named the powerful trading firm in a letter suggesting that an illegal form of short selling was responsible for its plummeting stock price.
Devin Nunes, chief executive of Trump Media & Technology Group, wrote to the head of the Nasdaq exchange this week “to bring your attention to potential market manipulation” of the company’s stock, according to a filing on Friday.
I asked about naked short selling earlier in this thread and dismissed it as illegal in that same post. Maybe MAGAts aren’t so careful about obeying the law (shocker…I know).
More money for Trump? I am not sure if Trump is making money or losing money now.
The blank-check deal that brought Donald Trump’s media startup public is set to give him another $1.2 billion in stock after meeting certain targets to his present windfall from the merger, yet he remains unable to cash any of it in.
With shares of Trump Media & Technology Group Corp. regaining steam last week, the former president and insiders are set to receive 40 million shares to split as soon as Tuesday’s close after fulfilling terms related to a so-called earnout.