And closed under $17 for the day.
$16.98, down 6% It seems to be on a steady downward trajectory. One would expect a bit of a bounce upward at some point. (with a normal stock, which this is not)
As I understand it what generally happens is that Trump doesn’t doesn’t just tell his broker to sell 20 million shares, he would say that he wants to sell as much as possible and that the lowest amount he is willing to take is $X per share. Now $X could be very low but I doubt that Trumps ego would allow him to divest of his whole holdings for a mere 1 million dollars so X is probably more than a penny. On the other side you have investors who say they are willing to buy N number of shares so long as the price is greater than $Y. So long as X is less than the current price and there are people with N>0 and Y greater than the current price Don can get in line with the other sellers to make the trade. When the buyers run out then the price goes down until again there are new buyers.
Since Trump will be continually selling way more than anyone wants to buy, this will continue until either the price goes down to $X or the NASDAQ AI hits the panic button and stops the trading. In the latter case there is a pause so that everyone can catch their breath, and revise their orders and then it will start back up again, with many fewer buyers and a whole lot more sellers, and here is where we really could get in the the realm of pennies per share as the meme on which the stock is based evaporates and it finds its true value.
Fall of the Western Roman Empire!
I dunno. Might be another dead cat bounce or two before all is said and done. There are always some opportunists looking for potential bargains.
There have been a few attempts at bounces, between 10:00 and 10:30 this morning the price went up 5%, and on August 20th it went up 15% for the day, but every one of those bounces is a chance for the large investors to unload some more of their stock. The consistency of the drop, basically a straight line since July 15th, makes me think that what we are seeing here is an attempt at an orderly exit where the these investors try to get as much as they can for their holdings without spooking the market.
So there is this lawsuit, and of course countersuit, with the founders wanting to be able to dump before Trump does.
Not sure if this means these two are selling their shares now or not. Or if that shoe is yet to drop.
It would probably be pretty easy to write a script that updated the thread title daily to “How Can Truth Social be worth $[ x ]?” based on market cap 
The unfortunate way I worded this makes is just a silly truism. What I was trying to say is that a falling stock price means that there aren’t enough Trump-adoring fools buyers at the current price, so the “ask” price falls to match the falling bid prices and attract more buyers.
It occurs to me that this would be a good talking point for Harris/Walz: “Trump will run the country the way he’s always run all his businesses – with deceit, self-serving dishonesty and fraud, and gross incompetence”.
Of course market cap says nothing about a company’s fundamental value – it’s simply the total of all its outstanding shares at current prices. The fundamental value of DJT is about the same as Trump’s stupid virtual trading cards, which is essentially zero, and is where the stock is heading… Even the Trump Bible is worth more, because they can probably be used as fireplace kindling.
I don’t think they can, as Trump is suing them in a Florida court. Even though they had an agreement in a Delaware court saying they could sell. Now they can’t because of the Florida lawsuit.
I just hope that the back and forth lawsuits mean that none of them, Trump, Litinsky or Moss will be able to sell their shares, and will be forced to watch the price drop to 5 cents/share before their shares can be traded. Which will quickly drop the price to 1 tenth of one cent.
The stock will likely be delisted from NASDAQ before then, so the Orange Genius will have to invent one of his scams in order to sell the shares privately. And will undoubtedly break half a dozen security laws in the process.
In spite of what I said earlier, after investigating the stock further, and assuming that they aren’t blatantly lying on their financial reports (a big assumption admittedly), there is probably a pretty hard floor of around $1.70/share. According to Nunes they have about $340 million in cash, and no debts so with 200 million outstanding shares they could just dissolve and divide this among their share holders.
Of course the way they got this cash is the same way a gambler can make small fortune in Vegas. They started with a large fortune.
Do they still have stock certificates? He could cut them up and sell them like his suit.
I suspect that as September 20th draws near, the Trump campaign will be buzzing with their secret plan to crush Kamala. If Trump mentions DJT, the SEC could yank his winnings from him. But if Trump does ordinary campaigning and that turns Trumpists bullish on DJT, well you can’t argue with the market can you?
So I guess early October with be Crush Kamala week, sort of like Infrastructure Week but less repetitive.
What happens if Harris baits Trump into something like “when I become president, I will only post on Truth Social”-
Would he be allowed to sell?
Is this legal?
Are there any consequences?
Actually, it takes over half a year for the delisting process to run its course. That may be enough time for him to dump his holdings.
For delisting, first the stock has to be below $1.00 for 30 days, then there’s a 180 day grace period where the company has to try to get the price up for at least ten consecutive trading days. If they fail, then they get the delisting letter. That can be appealed, but they have to submit a plan to get the price back up. I’ve left out many details, but if anyone’s interested, here’s the full procedure:
Yahoo finance has some numbers that support your conclusion even if Nunes’s statements are not currently accurate.
I am not understanding how book value per share is more than cash value per share though. Of course they are bleeding money at a loss of $0.40 per share over the trailing twelve months net earnings (loss) per share, so they could burn through that cash pretty quickly.
One would think that their alleged infrastructure buildout for streaming and content for streaming would come with more debt, except of course if they were not actually you know building anything?
Of course, all of this analysis ignores the possibility of shenanigans.
I’ve always assumed the biggest reason this thing exists is as an excuse to give Trump more money, outside the restrictions of campaign finance or money laundering systems.
Right now, the price is dropping because everyone knows Trump isn’t allowed to sell yet. Why put your money in when you know Trump won’t benefit?
But once Trump starts to sell, some nefarious actors may ostentatiously start buying. Even if you can’t show they’re buying Trump’s personal stocks, they’ll be part of a movement that props up the price, so Trump makes bank no matter who buys his stock. Thus, they pump billions into his coffers, and he feels some attenuated form of gratitude.
The test for this will be what the price does once Trump starts selling. I suspect we’ll see a huge increase in the buying at the same time, which tells you the fix is in.
Not saying this couldn’t happen, but its a pretty inefficient way to get your rubles to Trump, since you would also be supporting other possible sellers. I think that they will probably go other routes like say buying Trump NFTs where there is a clear seller and you can be sure that your bribe is going where it can do the most bad.
But that arms-length transaction also gives you plausible deniability. “Oh, I didn’t sell to Russians and Iranians, they were just buying and selling on the open market! I’m sure all my shares went to Troo Americans™, who were just enthusiastic to get involved in a once in a lifetime opportunity!”
Plus, I expect the big buyers will also try to recoup some of their losses once Trump has sold most of his shares, by re-selling to the suckers before the price really tanks.
Stock price having quite a bouncy day today but currently at 16.95. Seems to be a bit more volatility in the market, so someone must be buying.