…with both hands.
Closed today at $19.84, breaking the double sawbuck floor. I actually searched for a slang term for a $20 bill but Google had nothing fun.
I guess yuppie food stamp is not really appropriate for this context.
I’ll bet you a Jackson there ain’t one.
Price is still dribbling slowly downwards this morning.
And now dipping below $19.50
Soon we will have a new junk stock to watch.
At least we can understand potential ulterior motives for both followers and foreign governments to “invest” in Truth Social. But who the hell would want to prop up Lindell’s platform?
UTFW United Tooth Fairy Workers. aka Big Tooth.
Big Packet.
Big Pillow.
This morning it dipped below $19 for the first time.
Not so much a “dip” as a “plummet”, but it could bounce.
Meanwhile the march to the “Great Unlocking” on September 20 continues…
And now, a few hours later, it has dipped below $18. It was briefly $1.65 down from opening.
17.95 -1.55 (-7.94%)
As of 01:36PM EDT. Market open.
About to dip below the value it had a year ago today.
Today’s performance is reminding me of that Tom Petty song: American Girl.
Hah!
But correct me if I’m wrong: given the company’s fundamentals, it’s still massively overvalued, right?
That is the nice thing about it. It’s like falling in slow motion, but with full force when hitting the ground. And just now it falls over 8% intraday:
The challenge with a transparently obvious pump n dump scam like this one, is that the insiders who got lots of stock for cheap/free for “starting the company” must have a coherent plan for when to time the dump and how to structure it. Often it is done in tranches. There needs to be trust among the insiders to stick with the plan. Otherwise it becomes a type of prisoner’s dilemma.
In the case of the Truth Social pump n dump, I’m not convinced there is anyone with a plan, nor is there going to be much trust among the insiders. Trump himself is to busy to plan anything (if he ever could) and I don’t think Nunes has the brain power to even understand what is actually going on. Other insiders may just race to dump their individual positions as fast as possible.