Some dumps take longer than others.
Down to $28.32 at the moment. I’m suprised, I expected it to go way up if Trump won.
My guess is that he doesn’t want to alienate Musk. Plus he probably made some money and doesn’t want the modicum of actual work unTruthing every so often would entail. And I call it work because no one would actually read it so he wouldn’t get the engagement he craves.
Huh ?
Before the election, it was a bet that he’d win. But now that he’s won, where’s the value? There was never any intrinsic value in him winning, it was just taking advantage of the anticipated rise leading up to that. Now it’s happened, so it’s time to take your profit.
The only reason there’s any value at all is as a collector’s item for fans, or if you think that he will steer government communications through it. I’d like to think that wouldn’t fly, but the limiting factor would be that the technology couldn’t support the traffic, not any ethical concerns.
That’s what I was referring to. Any actual value would be in anticipation of using it as a communications platform. It’s possible that there is no such anticipation, thus no rise in share price. It could be because other mediums are better for engagement, the other possibility is that he’d like to remain on the Xitter because it’s just as easy. Don’t get me wrong, he’d push Truth Social if it could get him more money.
Xitter is becoming Truth Social anyway. Plus news outlets might start covering it again if he Xits as President. Whereas they might actually ignore unTruths since they don’t have the mystical post-twitter glamour to them.
He could convince his billionaire friends, fellow dictators and kleptocrats to pay for subscriptions, buy ads, etc. They would get many multiples of that back in lower taxes and trade deals.
The Votemaster discussed this today. Apparently TS has first dibs on any Trump post unless it is political. But now everything he wants to post is arguably political and he would have hundreds of times as many readers on Xitter. So they expect him to go for the biggest megaphone (their metaphor) because his ego is bigger than his purse. At that point TS would become a useless shell. That was their explanation for the drop in value after the election.
I don’t buy that. As president, he already has the biggest megaphone on earth. Why not leverage that privilege for really big bux on TS? He’s only going to be president for four years; locking in big money is forever.
I’m more inclined to go with what I think @TroutMan was implying – that the market had already factored a Trump win into the price, and now that it’s happened, it’s time for profit-taking. It’s the same reason that a company’s stock prices may not appear to react to good news, or may even fall after the good-news announcement. It’s because the smart money already knew it was coming and the stock had already reacted, and the stock price might actually fall if the news was not as great as some had expected.
But Trump has ample opportunity to manipulate DJT, so its future is anyone’s bet. In the long term I’m sure it’s going to just disappear like all of Trump’s other ventures, but the short term is very uncertain. At this point I wouldn’t want to be on either the long or the short side of it.
The market has a phrase for that: buy the rumor, sell the news.
ETA: DJT stock has risen 15% today. Still crazy after all these years…
And why the fuck is bitcoin surging? Trumps blabbling about crypto?
https://www.cnbc.com/2024/11/11/crypto-market-action-today.html
Trump is likely to be a crypto scammers wet dream - likely because he’s going to be one himself. His administration will be setting the regulations for cryptocurrency companies, and he will almost certainly make them as loose as possible in order to get a cut of that action. And fire the guy who’s currently holding those scammers to task.
Yep.
The part you forgot is to mention is they’ll go back to what they did during the last administration to both crypto and to the stock market in general. But massively more boldly than last time.
Which was / will be to make large investments that will profit on a market movement one way or the other, then create news that triggers exactly that movement. Then sell. Lather rinse repeat.
Of course that’s all illegal. But once there’s no effective regulatory agency, the concept of “illegal” becomes a mere fantasy, something for the little people to worry about.
I fully agree, and wonder how long it will take before experts, insiders and web-pages turn up offering advice on how to ride tanTrump’s coat tails and when the more sophisticated ones will start offering advice about when to exit the scams. If well done, it could be lucrative for outsiders without infringing any insider trading rules.
What the fuck happened at about 3:15 today? $27 something to $33 in 45 minutes.
Interesting… DJT jumped yesterday and then dropped today.
https://www.marketwatch.com/story/djt-stock-drops-as-crypto-deal-talk-cools-2c77583a
BKKT went from 10 to 30 yesterday and didn’t drop today.
So it looks like the price is staying right around 30 now.
Trump Jr. just joined the “advisory board” of a company called Unusual Machines, and its stock (UMAC) immediately almost doubled. Let the kleptocrat games begin!
Unusual Machines, huh? Wonder what they are up to. On the first of this month the stock was trading under 2$, today it trades at 13.40$. Ah, to be an insider with impunity!