So, it’s been a while since we checked in with how Trumps social media empire was doing. But circumstances demand that we raise a glass to toast a new milestone (or perhaps millstone) in DJT’s journey.
Today DJT lost 10% of its share price to reach a new record low of $9.91, a loss of 90% (or of 1,000% if you use Trump math) from its all time high of $99.03. More importantly this brings its price below original investment price of $10.00 per share that the original founders put in, and even lower than the $9.95/share that remained in the slush fund when they went public. It is now official that they would have been better off stuffing it under a mattress (for schadenfreudistic purposes I’m ignoring the fact that most of them probably sold a bunch of their shares early and made out like bandits leaving gullible MAGAs as the real losers).
But we do have to be careful since price isn’t the only thing to look at when determining whether an investment in a company paid off. You also have to look a dividends. Now as a modern company of the 21st century new economy DJT doesn’t worry about such old-fashioned things as making a profit. So they don’t actually have any money to post any real dividends, but back in December they did promise that shareholders would receive a “Digital DIvidend” in the form of a digital tokens, handed out as one per share, and managed by a crypto exchange. Sounds great! An opportunity to get on a crypto currenc on the ground floor before the speculative frenzy sets in. Time to buy a few extra shares to get in while the getting’s good.
The thing is that if you read the fine print, the digital tokens can’t be sold or transferred so have zero investment potential, their only use is they may make the owner eligible to some yet unspecified discounts or prizes. Also in order to claim your tokens you need your name and address. So really it’s just a way to bump the stock price (obviously didn’t work) and harvest names of particularly gullible Trump supporters who aren’t good with money for further fleecing.
Oh, and speaking about gullible people who are bad with money, DJT price did get a big spike around December 20th when they announced their merger with TAE Techologies working on Fusion power. Who has promised to build a power plant in 2026 and have it sending power radiation free power to the grid by 2031. The consensus is that Musk probably has a better chance of getting his man on Mars by 2026, then these guys do of providing economically viable power production. Considering the odds stacked against them, they barely have a working prototype, the kind of fusion that they are proposing requires 25 times higher temperatures than the usual methods (which also are decades or more away from viability), and more importantly they are so desperate for funding that they actually thought that getting in bed with Trump is a good idea.