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Quote of the day: Trump’s plans for his scam stock

From Donald Trump, asked if he plans to sell Truth Social stock when his lockup period ends a week from now:

No, I’m not selling. I’m not leaving. I love it. I think it’s great.

Well, that's that. He's selling.

20 thoughts on “Quote of the day: Trump’s plans for his scam stock

  1. Joseph Harbin

    Does anyone know the rules on stock sales? Does he need to pre-announce if he’s selling shares, or can he just do it after the fact? Are disclosures public or at first just to the SEC?

    In part, value of DJT is tied to his odds in the election. Hasn’t been a good couple of months for him, though about 2 pm ET today the stock zoomed 28% for a short time.

    1. KenSchulz

      That was buying by the suckers who had just heard his announcement that he wouldn’t be cashing out, and believed the lying sack of shit. Fool me once, fool me twice — must be a loyal member of the cult …

      1. Joseph Harbin

        That may be. It was a crazy spike though, so I think perhaps some big money trying do him (or buy) a favor.

        Since posting above, I read elsewhere that his "I'm not selling" declaration is binding and if he sells now he's got a big SEC violation to deal with. (No idea if that's true but maybe it is.)

        1. Josef

          Binding by what? Unless he told some authority what he says publicly is almost surely a lie. He couldn't care less about his cult losing their life's savings when DJT stock crashes. He only cares about keeping the price up till he can sell.

  2. Bobby

    I don't think he's gonna sell. I think he's been talking to Elon Musk and he's gonna do the same thing Elon did with Tesla and Twitter -- he's gonna borrow a shitton of money off the equity of the Trump Social stock then buy something of value with the borrowed money, then default on the loans and let them take the crappy stock after it collapses following his loss in November.

  3. kenalovell

    He's also threatening to leave NASDAQ because it paused trading twice today, no doubt to try to intimidate it into not suspending trading when he starts dumping his stock.

  4. megarajusticemachine

    If he's smart, he knows he needs to sell before the election; losing the election will make it worthless. He may be silly enough to believe in himself 100% and stake it on the election though too.

    But it's also never going to be a Twitter rival, so any real money in and out of it is going to be some sort of (legal-enough) stock trick, meme-stock chicanery or something. Watch for it to generate money somehow for him, maybe a few others, but still never really go anywhere but down.

  5. Josef

    "No, I’m not selling. I’m not leaving. I love it. I think it’s great." There's nothing great about Truth Social besides its debt to profit ratio.

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