I know a bridge in Baltimore going for sale cheap. Just sign here…and here…
I wish I had thought of the name:
Reuters interviews with more than a dozen investors that posted about their positions on social media platforms such as Reddit (RDDT.N), opens new tab and X found that most were looking to score a quick profit.
They bet that Trump supporters’ fascination with the stock was untethering TMTG’s stock price from the company’s business fundamentals.
Regarding the idea that this is a “meme stock”, I saw someone point out that the previous meme stocks like GameStop or AMC were ones being shorted by the pros, and that part of the goal of the r/wallstreetbets crowd was to screw over the pros. But DJT is largely owned by small-time investors, so the ones being screwed over aren’t the pros.
So we have two groups of investors: Trump fans who don’t know any better, and sophisticated investors betting on the fact that Trump fans who don’t know any better will drive up the stock.
Oh, and a third group maybe: People using DJT to,funnel dark money into his campaign. If you see it really being pumped just before his six-month exclusion expires watch for that.
Run away. This will be a bloodbath for investors, IMO.
I don’t understand what happens to Truth Social after the election. It seems to me that if he loses, it’s dead. If he wins, is he really going to post Presidential stuff there? I doubt it. So it’s dead.
Either way, it seems the only ‘value’ it has revolves around the froth of an upcoming election and once that’s over TS is in big trouble. Trump can only be president for one term, so win or lose there’s no reason to keep TS going unless it turns into a generic hangout for the Trumpy right and their next hopeful candidate. And I don’t see Trump getting on board with that unless the next candidate is Jared or Ivanka.
Why would you doubt that? He tweeted all through his last term, so why would this be different? His whole appeal is the “speaking directly to the voter” thing, saying the shit other politicians won’t say, so why stop?
Plus, there’s the ego boost he gets seeing all his posts get thousands of likes. There’s no way he’s dropping that addiction.
Disclaimer: didn’t read the whole thread
This article from the Daily Kos might explain it.
…
Truth Social was, from the very beginning, intended as a conduit for processing foreign emoluments and other bribes.A brief refresher: Truth Social recently merged with Digital World Acquisition Corp., a so-called special purpose acquisition company (SPAC), which was essentially an empty vessel, but one which was already publicly traded on the NASDAQ exchange. This has become a common alternative lately to a traditional IPO (initial public offering) for taking a privately owned company public. Initially, share prices soared as the
rubessmall investors bought shares. Subsequently, the stock tanked as (probably) short-sellers cashed in. Supposedly, the Don’s net wealth soared, and then crashed — to the delight of many. Ignore all that. It’s a sideshow, and all of it was entirely predictable and not the least bit important.DJT (as I’ll now call the company, after it’s ticker symbol), isn’t a real company. It has no real revenue, and never will. It was always going to attract a few suckers who’d purchase shares with some of their IRA money, but that was never going to be a significant investment pool. The investors who matter are Russian oligarchs, oil sheikhs, and their ilk. You know, the sort of people who used to rent dozens of rooms in Trump’s DC hotel and never occupy them.
The key attribute of DJT is that it’s publicly traded. Trump can sell a bunch of shares, and whichever foreign autocrat needs a favor from him can swoop in and buys those shares. No sneaky, backroom dealing required. It will take place out in plain sight. In fact, that’s required. As the major shareholder and officer of DJT, Trump must issue a formal announcement whenever he’s intending to sell some of his shares. Which, in his case, is kind of like taking out an ad proclaiming, Who Wants to Get on My Good Side? Now’s Your Chance!
Sure, DJT’s stock has no actual value…
I am not sure if he will even be allowed to post on his own commercial site as President while he owns a lot of stock in the compamy. But I’m not sure how the conflict of interest rules work around this.
Hold on, let me stop you right there… AAAAAAAA-HAHAHAHAHAHAHAAAAAAAaaaaaaaa!
Okay, that was a good one. Haven’t heard a joke that good in years.
“Allowed” is a concept that simply will not apply if Trump is re-elected.
“Allowed”? Who is going to tell him he can’t do that? He did lots of things as president that shouldn’t have been allowed.
“Some assembly required.”
Who will stop him?
Are Trump’s shares voting shares? With Trump owning 60%+ of the shares in DJT, does he effectively have 100% control of the company? If so, it seems like he can make whatever changes he wants to the board (including putting himself into any position) and make up whatever rules he wants.
The courts?
I’m sure his DOJ would jump right on it.
The courts didn’t have any problems stopping Trump last time. There were controversies over district courts passing national injunctions against him. Courts tried to stop the border wall. He was investigated non-stop throughout his presidency. He seemed fairly hobbled by the courts and the DOJ and the Democrats impeaching him.
If he is elected again, I expect the same thing. He will be fighting lawsuits until the day he leaves office. And Truth Social will likely be in the mix, perhaps from a variety of angles. Foreign interference, bribery, whatever.
I see it as being more akin to the Emoluments Clause challenges and Hatch Act violations in his first (and hopefully only) term. Someone with standing or authority needs to start the ball rolling, and for these matters, nothing ever impeded him and his band of crooks despite obvious violations.
I can’t imagine a scenario in which Trump wins the election, but the GOP loses control of the House, and doesn’t re-take control of the Senate. So he’ll have those guys covering his ass. Even if the Courts do try to step up and apply the law, they’ll just pass new laws.
The T.R.U.M.P. Act: Trump Regales Us! Mighty Posts! An Act to allow any president named “Trump” to post on any platform he wants, with the platforms mandated by law to ensure that every users sees it at the top of their feed, every day.
Plus, a Trump victory will essentially be an endorsement by the electorate of Trump’s “The president is immune!” schtick. Not many courts would be willing to push back on something that is popular with the voters.
Nothing stopped him from owning the Trump International Hotel in Washington DC. And he never put his assets in a blind trust.
You are assuming the Republicans are in lock-step,over Trump. They arwn’t. He had lots of defectors who voted against him last time. Ten Republicans jumped ship and voted for his second impeachment.
Trump doesn’t just need majorities in the House and Senate, he needs majorities big enough to survive a few in his party voting against him, and also by a big enough margin to overcome filibusters where they are still in llace. In a heavily divided America, that seems unlikely.
Fun fact: the last congress where a party had more than 60 seats was in 1977-1979, when the Democrats had 61. The closest the Republicans ever got to 60 seats was 59 in the 1921-1923 congress.
Ten out of 211 House Republicans. I wouldn’t characterize that as “lots.” And only two of those ten are still in the House.
I agree with @Horatius, if Trump gets elected he likely pulls at least a dozen House seats and 4-5 Senate seats with him. As far as the filibuster goes, it only takes a majority of the Senate to eliminate the filibuster using the “nuclear option”. With Mitch out as Majority Leader and Trump unquestioned master of the party, I can’t imagine Senate Republicans refusing to go along with a demand that they dump the filibuster to pass his agenda.