Looks like that money is intended to pay tax bills and the judgment in the E. Jean Carroll case. Will that actually happen? If so, what about that extra $5 mil? So many questions, so few answers!
Still on for Jan 29, but “The judge has, however, signaled that it’s likely that date will be pushed back”
What’s going on with DWAC tripling?
I really don’t know anything about this stuff, but could Trump be trying to hide his money?
But wouldn’t it all have orange grease on it…?
Maybe he’s trying to pull an Alex Jones here.
That would be a massive turnaround, for him to pretend to be broke. Its the polar opposite of what he’s done his entire life.
This spike coincides with DeSantis dropping out of the Republican primary, so that is probably the explanation.
DWAC is hitting new highs. Trump is expected to make 4 BILLion.
Who the fuck is buying this stock? I mean…
The same people who invest in NFTs, crypto, and who continued to lend him money for the last 10 years. As long as there is a base for idiots willing to finance his politics and no rules/enforcement of rules about what he can do with campaign money, there will be people willing to roll the dice with him. Hell, the Saudi’s gave his kid $2 billion to play with, and he’s more than willing to leverage his political career to ensure more money comes into his coffers, so there is a chance you can get in now, and get out with a nice profit before it all blows up.
“You know you’re buying a quality stock when the prospectus reads like a police blotter.”
Up Next: Trump Tulips
“Grown men have come up to me, with tears in their eyes, saying, ‘I’ve never seen a more beautiful, perfect flower.’”
This is another gem… spit out a perfectly good drink!
“At this juncture in its development, TMTG believes that adhering to traditional key performance indicators, such as signups, average revenue per user, ad impressions and pricing, or active user accounts including monthly and daily active users, could potentially divert its focus from strategic evaluation with respect to the progress and growth of its business.”
So we have Truth Social with 8.9 million users vs Twitter’s claimed ~500 million active users.
TMTG revenue $3.4 million, operating loss $10.6 million. Twitter revenue is around 1000 times that.
I’m not seeing any other source of revenue.
So obviously the valuation (around half the value of Twitter) is complete nonsense, but DWAC is not just going up on air, trading volume is $150 million a day.
The question is, how many marks can Trump really get to buy the stock before it inevitably collapses? The worrying thing is that a lot more ignorant MAGAs might buy something that looks like a real investment than would buy gold sneakers.
Several million people could be stupid enough to buy $1000 of stock in a completely legal multi-billion dollar grift here.
Oh, it not Trump’s, Magic The Gathering…
“Pay no attention to actual performance! Trust us!”
Likely the same people who are buying his $399 “Never Surrender High-Tops.” Predictably, they are gold-colored.
Good news: When this stock tanks (as it will, as it has no business plan to generate revenue), then many, many of the MAGAts will lose a lot of money. Money that they can no longer send to other Republican grifters.
That’s clutching at straws for a silver lining* if most of that has gone into Trump’s pocket.
I guess if the denouement here is that Trump is a decrepit billionaire in prison and a few million MAGAts are out a few billion that’s not so bad.
*don’t nitpick, the straws are attached to the silver lining in this metaphor