And closed today at $18.08, down 7.28% on the day.
Not sure if it was reported in this thread, but on Aug 23, over 5 million shares can now be sold by a couple of the original insiders, WorldConnect IPTV Solutions and JedTec.
I note that Trump’s 115 MILLION shares can be sold as of Sept 20.
The notice from the company states that “The sale of the Shares being offered pursuant to this prospectus, or the perception that these sales could occur, could result in a decline in the public trading price of our Common Stock.”
So once again DJT has outperformed the market by losing 7.28 / 2.12 = 3.43 times as much value. Such winning. Such yuge winning. The kind of winning nobody else can achieve. He’s a total winner at losing.
I subscribed to Investors Business Daily 30 years ago and remembered the “cup with handle” pattern. It looks like the buy point for DJT could be around $40.
The value of the Digital World Acquisition stock before the merger is irrelevant. The merger closure was announced on a Friday and that stock took off the following Monday, March 25 with DJT as the new ticker name appearing on NADSAQ on Tuesday.
The True Believers aren’t worried. They’re in the same boat with the Orange Genius, so all must be well.
Just wait for the standard time period designated for all miracles – two weeks. The fake news is saying that the stock price may have dropped a bit, but you won’t believe how much the stock will soar in … two weeks. It will be the biggest stock price rise in history – no one has ever seen a stock take off like this. People will come to me with tears in their eyes, and they’ll say “sir, thank you sir, I have never seen a stock take off like this”.
I just did a quick back of the envelope calculation:
At a loss of 3% per trading day, at today’s price of $17.50, the stock will be worth about $10.00/share on Friday, Sept 27. Assuming there are not any big sales/stock drops after some of the major players are allowed to start selling.
Who knows though? There may be something that bumps the price before then.
As someone who’s primary knowledge of how trading works comes from Trading Places, what happens exactly if Trump tries to cash out all or some significant portion of his stock? I see the average daily volume of trading is sitting at 7.56 million shares, which is a small fraction of Trump’s 115 million. Trump can’t just sell 115 million shares at the current price without there being buyers for 115 million shares at the current price, and there are clearly already more sellers than buyers at 7m shares traded per day, given the direction of the price.
So if 115 million, or even “just” 20 million additional shares go up for sale, what exactly happens, mechanically speaking? Each individual sell order seeks out a matching buy order, at progressively lower prices? What happens if there aren’t actually that many buy orders? Does the price just go all the way to zero? Trading on that stock halted after a specified % loss?
I see news stories about Trump cashing out, but I don’t see how he can do so in any significant way without utterly cratering the share price, which would lead to headlines he really doesn’t want in October.
These recent prices make me think of years. We are now below the revolutionary war, possibly a few days away from the discovery of the Americas. Will we reach the signing of the Magna Carta?
This is very true. Normally, the scammers in a pump n dump scheme will plan their exit strategy carefully, interspersing small tranches of stock sales with amazing “news” and puffery to try to maintain the illusion, and get more buyers into the scam. As I said upthread, Trump is to busy to do this part of the dump, and Nunes is too stupid.
I also know very little about the workings of stock exchanges, but I more or less addressed this question up here in this post. Unlike something like the real estate market, where there may indeed be significantly more buyers than sellers or vice versa, in this case the number of buyers and sellers is exactly the same. One of the major purposes of a stock exchange is to provide immediate liquidity, and any imbalance is managed by adjusting the price until the bid and ask differential disappears.
A falling stock price means that sellers have to keep lowering their “ask” price. The process is further assisted by brokers called market makers whose job is to buy or sell out of their own holdings to maintain market liquidity. Of course if a seller insists on placing a sell limit order, meaning their “ask” price is fixed, their sell order may sit there for months and may never be executed.
Interesting things start to happen when even steep price adjustments and market makers can’t match sell orders. Generally what happens is that trading is halted for some set period. Any attempt by Trump to dump a significant block of his shares will not only tank the price, but might halt trading altogether. Eventually, under NASDAQ rules this pathetic piece of shit might be delisted, fulfilling the usual prophecy about what happens to everything that Trump touches.
I usually have a tab open on it to check throughout the day. It is a cheap form of entertainment. (Nothing significant enough to mention happened in 1698.)
To address the question in the thread title – “How Can Truth Social be worth $6 Billion?” –
Closing today at $16.98, market capitalization of DJT is currently $3.399 billion. So it ain’t worth $6 billion now.
