Trump's Truth Social loses $4 billion in value in one week, while revealing wider loss : usa

[-] Shdwdrgn@mander.xyz 77 points 9 months ago

People are starting to realize everything he says is a joke? I can't imagine actually trusting an investment to anything he touches.

[-] Eheran@lemmy.world 12 points 9 months ago

No, people do not. Roughly 50 % would still vote him.

[-] negativeyoda@lemmy.world 13 points 9 months ago

Less than 30%. A full third of the USA can't be bothered to vote at all

[-] CileTheSane@lemmy.ca 7 points 8 months ago

Don't forget the gerrymandering and efforts to make it unreasonably difficult for people to vote.

[-] ASeriesOfPoorChoices@lemmy.world 4 points 8 months ago

remember, less than 50% of people who voted voted for him. Over a million more people voted for Hillary than Trump. Largest loss in both % and people in history, I think (for a winning presidential election).

[-] zarkanian@sh.itjust.works 2 points 8 months ago

Roughly 50 % would still vote him.

Evidence?

[-] sexual_tomato@lemmy.dbzer0.com 2 points 8 months ago

The last election and current approval polls?

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[-] mojo_raisin@lemmy.world 3 points 9 months ago

Trump Steaks? No?

[-] DevCat@lemmy.world 57 points 9 months ago

One more overvalued trump property. Are we surprised?

[-] Jesusaurus@lemmy.world 17 points 9 months ago

Benefit with this one is everyone can short it once the option trades become available

[-] Dagwood222@lemm.ee 11 points 9 months ago

I am a bit surprised. I figured it would be an easy way for fat cats to pay off Donnie's massive debts and make him look like a big shot.

I'd love to be the fly on the wall when the top GOPs meet up with the main donors.

[-] HuddaBudda@kbin.social 46 points 9 months ago

It feels like someone is pumping the stock up.

Not your average small business owner either, someone with weight is basically defying every metric of long term/short term investment on a stock that has done nothing but depreciate in value over the past year.

On a product, no one uses.

And said, "That's worth at least as much as Amazon."

[-] ursakhiin@beehaw.org 8 points 9 months ago

Trump has people trying to get his base to buy the stock with the express purpose of pumping it up to give him more assets to work with to fund his legal battles.

I wouldn't be surprised if the SEC is currently investigating it because they haven't been trying to hide it at all.

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[-] Igloojoe@lemm.ee 30 points 9 months ago

Trump selling truth social stock was so that foreign entities could legally give him money so he could pay the bail for the NY case.

[-] jackpot@lemmy.ml 10 points 8 months ago

he cant sell any, hes lokced to it for 6 months

[-] Corkyskog@sh.itjust.works 1 points 8 months ago

Doesn't need to, it's asset that can be used for collateral.

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[-] nutsack@lemmy.world 15 points 9 months ago

Holy shit I didn't realize it was worth that much that's crazy

[-] smeenz@lemmy.nz 30 points 9 months ago

It wasn't.

Like everything trump touches, it was ridiculously overvalued

[-] TIMMAY@lemmy.world 3 points 8 months ago

he's like king midas except instead of gold everything just gets slathered in shitty bronzer

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[-] snausagesinablanket@lemmy.world 13 points 9 months ago

So he has no way of cashing out?

[-] jonne@infosec.pub 36 points 9 months ago

It's just another roundabout way to accept bribes. Don't be surprised if we find out later on that the Saudis or the Chinese bought a bunch of this stock. If he gets elected this stock will skyrocket.

[-] grue@lemmy.world 26 points 9 months ago

Boy, I sure miss the Emoluments Clause.

[-] jonne@infosec.pub 14 points 9 months ago

If only they decided to add a punishment to those presidential crime laws. Pretty naive to count on congressmen to do the honourable thing and impeach.

[-] DancingBear@midwest.social 10 points 9 months ago

Not for six months

[-] EmbeddedEntropy@lemmy.ml 2 points 9 months ago

Unless their board approves an earlier date.

[-] delirious_owl@discuss.online 10 points 9 months ago

How is a mastodon instance assigned a value?

[-] 420blazeit69@hexbear.net 6 points 8 months ago

I believe they did an IPO

[-] delirious_owl@discuss.online 6 points 8 months ago

My reaction when my instance admin "does an IPO" and basically sells my contributions and my data to the highest bidder

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[-] autotldr@lemmings.world 8 points 9 months ago

This is the best summary I could come up with:

Former President Donald Trump's fledgling media business is losing its sheen among investors a week after going public, with a sharp reversal in the company's stock price lopping $4 billion off its value.

The plunge in Trump Media & Technology Group's shares, which debuted on the Nasdaq Composite Index on March 25 under the ticker "DJT" (after the former president's initials), comes as it disclosed mounting losses in a regulatory filing.

Shares of Trump Media & Technology Group, whose primary asset is the Truth Social platform, tumbled $14.50, or 23%, to $47.46 in Monday afternoon trading.

To be sure, Trump Media continues to maintain a heady market capitalization for a business that's in the red and that booked just $4.1 million in revenue last year.

Yet Truth Social has positioned itself as an alternative to more established tech giants such as Meta's Facebook, which also endured losses in its early years.

"GameStop was the meme stock of a lifetime, but Trump Media has put it to shame," Michael Pachter, an analyst at Wedbush Securities, told the Associated Press last week.

The original article contains 401 words, the summary contains 179 words. Saved 55%. I'm a bot and I'm open source!

[-] imnotfromkaliningrad@lemmy.ml 7 points 8 months ago

rip bozo, lmao. looks like you cant sustain a social media network around a personality cult around some wet old dude.

[-] Jax@sh.itjust.works 4 points 8 months ago

Looked like it was enough to get him bail, though

[-] Natanael@slrpnk.net 4 points 8 months ago

Not bail specifically, it's a bond. A bail keeps you out of jail until a court judgement has been made, a bond keeps the court from taking your assets away to pay off a debt (including from a previous judgement). The bond is held by the court until appeal is over, then given to the winning party when the final judgment is in.

[-] atturaya@lemmygrad.ml 5 points 8 months ago

headlines like this are always so silly. it's a shitty meme stock that went up for a single day and has been down ever since. it "gained" 4 billion for like a single day.

[-] Adkml@hexbear.net 5 points 8 months ago* (last edited 8 months ago)

I think they're good because it really highlights that "the rules are made up and the points don't matter" is actually a better description of our economy than anything an econ student could come up with.

[-] Hackerman_uwu@lemmy.world 4 points 8 months ago

What is the antonym of ‘go woke go broke’ pls?

[-] Natanael@slrpnk.net 4 points 8 months ago* (last edited 8 months ago)

Go fash lose cash

Turn altright feel the plight

[-] the_crotch@sh.itjust.works 3 points 8 months ago

Go fash lose your ass?

[-] badbrainstorm@lemmy.today 1 points 8 months ago* (last edited 8 months ago)

MAGA brain, Capitalist pain. Or just Capital pain

[-] itsonlygeorge@reddthat.com 3 points 8 months ago

What a great businessman! Much smart! So WOW! Big brain.

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[-] cricbuzz@hexbear.net 2 points 8 months ago

trump-anguish

[-] therealjcdenton@lemmy.zip 2 points 8 months ago

Do people actually use that?

United States | News & Politics