Or somebody knows the fix is already in.
This post has some weird units.
The price is around $52/share, up 9% on the day. The all time high was $66/share. Meme stocks fluctuate wildly.
Trump Media is currently worth more than X/Twitter:
Full Title: Trump Media soars to $10 billion market cap, overtaking the value of X, which has hundreds of millions more users
Donald Trump’s fledgling social media company Truth Social is now worth more than X, formerly known as Twitter.
Thanks to a stock price that’s soaring in the final days before the election, the market cap of the Trump Media and Technology Group (TMTG) now exceeds that of X, which owner Elon Musk took private in October 2022. In late September, TMTG’s stock sat at an all-time low of $12.15. Since then, the stock’s price rose 345% as Trump’s political chances improved.
Now, TMTG has a market cap of roughly $10.8 billion compared to X’s estimated value of $9.4 billion. X’s market cap was calculated based on the value of Fidelity’s investment cited in disclosure filed in September.
It was 11% up on the day when I took the screenshot, now it is 14.5% up! It is being traded right now at 54.25$ per share. The share price has climbed from about 12.5$/share four weeks ago to four times that value: if that is not fluctuating wildly in your book, it is in mine. And the all time high was not 66$/share, as you claim, but around 90$/share in 2022. Then it fell sharply to levels similar to the ones in october 2024 in 2022/2023, rose again to around 60$/share at the beginning of 2024, fell again until september, and has quadrupled again in four weeks. I don’t think the units are the weird thing here.
I literally said it is fluctuating wildly.
Sorry, I understood you to mean that having an all time high of 66$ (which is the wrong number) and being at 52$ today it did not fluctuate that much.
Trump media went public in March 2024. The highest price since then was $66, as @hajario said. The 2022 price you see on the chart is for Digital World Acquisition Corp from before its merger with Trump media.
Not the wrong number.
And speaking of fluctuation, down 20% on the day so far.
I was refering to the whole history of the preceding SPAC, Digital World Acquisition Corp, but technically you are right. It is a different company now.
Rising 20% one day, falling 20% the next, that’s not investing, that is gambling. Or psychological manipulation: someone with a lot of money is trying to make us believe that Trump’s victory next week is a sure thing. Wonder who that could be.
Definitely some pump and dumping going on.
Any chance it’s Elmo or someone like him trying to make it look like Trump will win?
Shares worth 4.5 Billion have been traded today on the NASDAQ. That volume, day after day, would be hard to manipulate even for someone as rich as Leon. But who knows? Whoever is manipulating expects a return, I would guess. But it must not be money. Some people would kill to get rid of regulation for rocket launches, spy satellites or self driving cars. Or how much is Ukraine worth to you? Or give a rich petro-state the modern weapons to defeat Iran, even though they could not even defeat a tribe in Yemen so far. I am sure there is a nice conspiracy theory somewhere waiting for sharp minds to uncover the truth™.
Or it is simply a meme stock driven by fools.
Could it be a short squeeze, like what happened with GameStop? If you remember, a bunch of reddit users started buying up GME stock because they realized there was a lot of shorts. When they started buying stock, the rising price caused short sellers to buy back stock to close out their positions. That made the stock price go even higher. It seems like something like that could happen to DJT. Normal exuberance about Trump’s chances may have caused his followers to buy, but then the rising prices could have caught the short sellers exposed and they bought as well to close out their positions.
A short squeeze is conceivable, but I have my doubts. It was never easy to borrow Truth Social shares to sell them short. There weren’t many available.
Since the end of the selling restriction on corporate insiders, haven’t several of them unloaded a bunch of their shares? That would provide more shares to short, no?
When did those restrictions end? The share bottomed end of september, that was a couple of days later, wasn’t it? Maybe there is a connection. Or it was just happenstance amid the perfect shit storm of cross-manipulation.
The same time as Trump’s.
Does Trump have access to who all the shareholders are? This just sounds like another way to buy influence with a second Trump administration.
Shares are in principle anonymously owned up to the thresholds that have to be reported, but the company still knows who the shareholders are, as they are contacted regularly to vote in general assemblies and the dividends are reported to the RSI (I guess, it is the equivalent to the RSI in Germany - not that Truth Drumpf Social is paying any dividends). So he personally should not know, but somebody must. Of course, as with all things trump, legal niceties are just there to be coveniently ignored if the chance presents itself. And if you own shares in his company it is not forbidden to tell him. It probably would be legal to tell him that you own shares in his company even if you did not. Lying is covered by the first amendment and we agreed not to fact check, right?
I think today was the dumping phase.