I’d nitpick that makes it sketchy, but that’s just me. I agree that as usual with Trump there’s a whole tangle of possible corruption.
On top of that, you can’t really short DJT. To short a stock, you have to be able to borrow it from someone. In volume, that means big funds like Fidelity. Big funds won’t touch DJT with a 10 foot chopstick, so there is virtually no stock available to borrow with which to short.
This guy is not a fan:
“I mean, it’s ridiculous,” Diller said on CNBC’s “Squawk Box” when asked about Trump Media. “The company has no revenue.”
“It’s a scam, just like everything he’s ever been involved in is some sort of con,” he said of Trump.
< snip >
“I think they’re dopes,” Diller said when asked why people are buying the company’s stock.
“I mean, who would buy a company that literally, what does it have, $30 of revenue? Who could put a value on that?” Diller asked.
Another guy says Truth Social had $4 million in revenue. Diller seems unimpressed.
Well, it’s down 13% today.
For our resident financial analysts, is there anything to stop Trump from dumping all his shares the first day eligible? I know it would be disastrous to the price of the stock, but could he just go scorched earth and liquidate?
I LOVE checking in periodically and seeing it slide.
From a high of $66.22 on 3/27, it has been pretty steady downhill slope since then, to a present $40.03. Still plenty lower it can go - fingers crossed!
From $36.94 on 3/22 it went up for 4 consecutive days to a high of $66.22. Since then, down 5 out of 6 days. How low can it go!
Finding buyers could be the only obstacle. Dumping a percentage that large would likely scare them away and crater the price regardless.
After his blackout period he should be able to borrow against his shares. No capital gains and no price drop from dumping. Whoever loans him money might not value the collateral at full price, but it shouldn’t be worse then if he started dumping.
DJT debuted on 3/26 and the financials weren’t released until 4/1. According to this from Ring Of Fire that information should have already been in the hands of the government prior to 3/26 so why wasn’t it made public?
https://www.youtube.com/watch?v=7yA5YdlF_Zs
not if you can surgarvaseline-coat it?
I am selling them ONLY to my truest friends and supporters (no lib’s allowed to buy) … go out tomorrow and what was once mine, can now be yours … WE ARE IN THIS TOGETHER - you and I we will be partners!!!
"…please ignore the fact that I’m selling all my shares. "
If he sells after he wins the election (shudder) and publicly announces an agreement that he will keep TS as his primary social media platform for an extended period (and who knows, even signs a presidential oder that all federal government social media accounts move to TS if that can happen), I bet it wouldn’t burn the stock too badly (unfortunately).
I think it would get possibly delisted if it hits under a dollar for some period of time?
Looking forward to finding out if so!
Seriously, the MAGA supporters already piled in right away. There will be a few who double down as it drops. Some who will hold on to a major loss position. And short sellers covering their positions.
But I suspect it will become thinly traded stock pretty soon, valued as little for collateral, and hard to off load any reasonably sized position.
The guy’s 78 and in horrible shape. If anyone’s investing longer term because Trump’s “magic” will send the platform soaring, he gets what he deserves.
Did Trump cross an SEC line … between pedestrian puffery and “Employment of manipulative and deceptive devices?”
Could you even imagine?
I think within 2 weeks in may be down in the $20s.
By the time the six months are up it may be delisted as a penny stock.
Apparently so many want to short the stock that the fees paid to borrow stock to do so have skyrocketed:
“There is very little stock available to borrow to support new short selling — less than 50,000 shares — and with demand to short this stock extremely high, we are seeing stock-borrow rates at 500% to 600% fee levels,” Dusaniwsky told MarketWatch on Tuesday.
It is currently about $5 down today. I think we are finding it wasn’t worth $6B. Please raise your hand if you are shocked to learn this?
Currently going lower than that $36.94 price (around $36.20 at the moment).
Oh happy day!