Last night I did a quick check on how Donald Trump's Truth Social stock was doing. It was down but not worth a post. But it turns out I was just a day too early. DJT plummeted 15% today and has now declined by half since Trump's guilty verdict in the hush money trial:
Volume has been huge for the last two days, but who knows what's going on. Lots of people selling and not so many buying, right?
In any case, it still has a ways to go before it gets to its true underlying value of about $3. When will that happen? Beats me. As Keynes sort of said, people can stay stupid longer than you can imagine.
POSTSCRIPT: Considering how much Trump blathers about everything under the sun, it's a little odd that he almost never mentions his stock. Is it because he's afraid of the SEC? Because he figures that drawing attention to it will produce nothing but more bad reviews? Or that he doesn't want the suckers to catch on to the ruse and thinks it's better not to risk saying something that might alert them?
Anyway, it just goes to show that Trump can keep his mouth shut if he has sufficient motivation.
What I find interesting is how much money you could make by buying some DJT stock and lending it to the short sellers. We're talking about a 500% annual fee for the privilege of borrowing some shares to short, and apparently there aren't enough lenders to meet the market demand for short selling, hence the high price of the lending fee.
Maybe if I understood this better I could make some real cash. But who is the fool - the investor that holds DJT to lend it to short sellers at 500% or the short sellers who are paying 500% to short sell?
As the old saying goes, the market can remain irrational longer than you can remain solvent.
I didn't read it carefully, but there was a report two days ago that the company had issued the millions of additional shares authorised some time ago. Theoretically this should dilute the value of individual shares.
A great VP pick can turn that all around.
And there is one prospect who has already shown us what he can do and it's like he's been auditioning for this moment all his life,
The Brain Worm,
https://assets3.thrillist.com/v1/image/2817681/size/tmg-facebook_social.jpg
He's a disruptor and a thought leader, and yet at the same time he's obviously modest not seeking the limelight for himself but preferring the calcified appointments of his sensory deprivation tank,and yet when called upon he can be great on camera. A great, natural talent. Somebody people are looking for, somebody MAGA can look for right under their own hats.
Shazam!
I read somewhere that he’s not selecting a VP, but rather a co-star/supporting actor. There is a lot of truth in that. It’s all performative anyway for him since his only firm conviction is self-aggrandizement. He’s outsourced his policy to Heritage, Stephen Miller and Bannon.
Could Trump be bailing out already? He's not supposed to be able too...well, unless the board agrees to let him sell some...
I watched the stock as it made its first descent and was surprised (and annoyed) when it went back up. I was like, "What's happening? Is there big money coming in from the usual suspects?"
Relieved to see it head back to earth.
Time to buy, clearly.
Well, Trump owns 70% of DJT, market cap today is $4.5B, so his share is $3B.
If he can prevent it from cratering that is. So, he's probably keeping his head down, hoping to make it to the end of September, when his lockup period is over.
But it still won't be easy to get the cash out -- if he starts dumping those shares, the price will crater.
Larry Kudlow said it: "Buy on the dip."
Compare Nvidia's stock performance over the same period, just for kicks.
Kitties say...Meooooow you CROOK!! REAP WHAT YOU SOW....Kitties know.
I have peeked daily, hoping for it to tank. Maybe it will soon. Fools and their money are soon parted. Let's hope this happens with the voters for t-Rump also. They all run for the exit.
It’s a gamble. Heads or tails. Double or nothing. If you think Trump will be “President” after the next election, now’s the time to buy DJT stock. The price will soar when he is anointed and you can sell for a huge profit. If Biden is re-elected the stock will tank and you will lose everything.
I wonder if that Fox News poll that had Biden up by 2 had an effect?
They'll lose their shirt and still love him. Remember these are guys who injected bleach, got deathly ill, or just deathly , then said- "No hard feelings Donnei"
This must be making Trump nuts,
https://old.reddit.com/r/interestingasfuck/comments/1dkxhcj/vladimir_putin_drove_north_korean_leader_kim_jong/
both his exes on a lunch date.
They are hoping for Trump to be “President” again so they can make it a threesome.
Where the axis of evil becomes a circle of jerks.
The AI criminals are stealing everything! Did you hear about the car dealerships? That’s hilarious. We really are doomed. People laugh about AI taking over… this is the beginning.
https://www.cnn.com/2024/06/21/business/cdk-global-car-dealership-outage/index.html
Doomed!
The Donald Trump Supporters I know don't need the stock advertised to them. They are following it closely.
They see buying into the stock as a way of supporting Donny, which is odd since "He can't be corrupt because he doesn't need the money:"
and if they lose big . . . "No hard feelings Donnie. You must have needed it"
Kim has nothing on T
Trump will pump the equities for Truth Social when the restriction on selling his shares expires.
Sure...and now the stock bounced up a bit on Friday....Thanks Kevin.
😉
"Lots of people selling and not so many buying, right?"
Nope. This is a common misconception. When a sale happens there is always a seller and a buyer, no exceptions. If the price of an item (such as a stock) is going down, then sellers can't find buyers at the price they want and have to lower their asking price again and again.
Remind me: what's the P/E ratio for Truth Social?
Heh.
No P/E ratio because the company is losing money. The price/sales ratio is 884, which is huge. For comparison, Meta (aka Facebook) has a price/sales ratio of 9.
Because if he talks about it, he brands himself a loser.