Just to keep everyone up to date, here's what Donald Trump's scam social media company looks like a few weeks after the election:
There was a big spike for some reason at the end of October, but it only lasted a few days. Aside from that, DJT stock has been hovering around $30 for a month and a half.
Why? That's still a mystery since the company continues to have virtually no revenue and no real prospects of ever getting any. But the faithful keep the faith regardless.
Hey, Bitcoin has a value even though it is worthless. As long as there are rubes, they will hand over their money to hucksters. And as long as there are authoritarian states willing to pay for something worthless to grease the wheels of policy, there will be a market for, oh, lets say, tulips.
Beat me to it. Spot on!
You've got to figure he'll find some way or other to plunder the treasury for the benefit of his social network.
Presumably, once he's in office, every department in the executive branch will begin communicating to the public using Truth Social.
What will his buddy Elon think about this? And will they have to pay for the privilege of posting?
I imagine that's the price informed investors think Musk will pay to merge the company into X. Cheap, really, for the unique position of unelected US co-president.
One thing that keeps me going when I get low is the thought that DJT might end up the way Giuliani has.
It gets better...
https://slate.com/technology/2024/12/justin-sun-banana-art-crypto-billionaire-criminal-comedian-maurizio-cattelan.html
(quick summary of one part of that article)
Apparently Sun bought $30 million in World Liberty Financial tokens, which brought their sales up above the minimum needed for Trump and his adult sons to get a multi-million dollar payout.
see also: https://www.bloomberg.com/news/articles/2024-11-29/trump-s-crypto-project-was-a-bust-until-justin-sun-stepped-in?srnd=phx-industrie
Volume down to a only slightly ridiculous 10-15 million shares per day. I'm still trying to figure out how a stock with only 200 million shares outstanding (of which Trump holds about half and supposedly isn't selling) can trade 176 million shares in one day.
My guess is that there's a lot of wash trading.
Meme stonk
If I had any of that stock, I'd hold onto it too. Imagine how high it can go if MBS or someone else buys US policy at the cheap price of ten billion dollars. The fastest and most legal way to funnel money into Trump's pockets. Quid pro quo? Everyone's tired of that.