Trump Media & Technology Group, the owner of struggling social media platform Truth Social, is began its long-delayed journey as a public company at Tuesday’s opening bell under the ticker symbol “DJT.”
The stock surged about 56% at the open, to $78, and trading was briefly halted for volatility. Trump Media shares have since stabilized at around $70, marking a 40% increase from Monday’s close.
Wall Street is assigning Trump Media an eye-popping valuation of around $13 billion — a price tag that experts warn is untethered to reality.
The skyrocketing share price comes despite the fact that Trump Media is burning through cash; piling up losses; and its main product, Truth Social, is losing users.
“This is a very unusual situation. The stock is pretty much divorced from fundamentals,” said Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business, who has been studying initial public offerings (IPOs) for over 40 years.
smh, it’s going to flop like his hotels.
That’s the plan. He just needs to cash out first.
WELCOME TO FINANCE! There are no rules, and if we break them, we remake them!
This is a case where I literally both hate the player and the game.
I just have to say, the folks at Reddit must be eating their own hearts out right now.
If only they hadn’t shut down The_Donald, this could have been them.
They will always have GME.
Trump is now a stock.
A meme stock
He’s already been NFTs. Has there been a “DrumpfKoin” yet? Only a matter of time.
Never has a short selling opportunity been so good…
Short term options are currently valuing almost 400% volatility. Your gonna pay out the ass for put options or for the margin required for a short sale. I wouldn’t go anywhere near this.
As they say… that’s priced in.
This guy trades. Can confirm. Puts are outrageously overpriced. U gotta hate trump a whole lot to buy weekly puts
Attempting tiny 💎 🙌 it seems. 🚀
At this point Trump is going for like an EGOT combination of federal agencies putting cases together against him. “Don’t have the SEC yet, gotta add that one.”
Hey, I miss WSB style action on Lemmy. There are no subs or instances for this, because we are deathcore communists who would never touch filthy wallets with our soil stained hands.
I wish we would.
The stock market is not about company fundamentals, which they may influence people. However at the end of day, the stock market is all about the feels.
This is so damn true it hurts.
Bearish on FEELS.
Money laundering. Just like buying those bibles.
You know… In my life I’ve had to talk a few people out of scams.
I know they were scammed, it’s blatantly a scam, the evidence is overwhelming, my experience is solid, everyone I know of’s experience says the same.
Yet they will argue with you back and forth and never really be satisfied because they want to believe it so much, and I imagine it stings a good bit being told you’re being ripped the fuck off and you’re too stupid or inexperienced to understand that.
I’m never confrontational about it, I just make it very perfectly clear that proceeding would be extremely ill advised, and that even their own worries brought them to me asking for my opinion because they trust my judgment.
It scares me how long it takes to convince them, and how often in the end they come to me a month later and I ask them how it went, and they went and bought it anyway, for whatever far fetched rationalization they managed to construct for themselves.
Psychology is real, psychology is simple, all it takes to control humans is to have no care for anything but yourself.
“Yes, I know it’s scammy, but I’m getting in on the ground floor so I’m not the one who will be holding the bag” is a sentiment I’ve seen (and occasionally held) entirely too often.
NGL I’ve been there myself more than once. That is how I know. Winners never quit, quitters never win, but if you never quit and never win, you’re a moron.
Winners never quit
Knowing when to cut your losses is kinda important if you want to win long term.
So trump social is going higher then reddit? Idk if i want to cry or laugh.
You can bet that WSB will have rocket emoji galore. One will drive up the other.
Aren’t they like the same?
It’s not higher then reddit, take a look at market cap vs last trade price, the current stock price is only part of the puzzle when it comes to valuing a company.
Reddit is mostly bots. Trump social is gullible idiots. Selling gold and prepper shit on Trump social is going to be profitable. Reddit ads are garbage and have been hated by the user base since their inception.
Yeah but if, suppose, Trump died or even just loses the election, 2 very likely circumstances… the gullible idiots will disappear.
the gullible idiots will disappear.
They’ll just jump on the next grifter that tells 'em what they want to hear.
Sure ok but they won’t be hanging around on truth social clicking ads for gold or supplements.
ehh… disappear ?
Well ok, they would flock to whatever other social platform.
Do not try to apply logic to what the 🦆 is happening
A single Cheesecake Factory has better net sales and profits than Truth Social.
May as well just light your money on fire, Wall Street.
Wall Street earns commissions selling junk to rubes.
Wall St is a shadow of its former post-WW2 self, when regulation was MUCH stronger.
Is he trying to get an other fraud suit?
Doesn’t matter if he can outrun the consequences. Pretty sad that an out of shape piece of shit like Don Poorleon can outpace the American justice system.
Sigh… I buy index funds that own the whole market…
Could Trump’s Truth Social stock value be powered by massive fraud? Experts say things like “slammed,” “mystified,” and “dazzled!” This and more for the next 24 hour news cycle until he does another damn fool thing that we can exploit.
The sheer level of cynicism is unhinged.
I’m sure he’ll divest before the election, right?
Considering this is a pump and dump scheme to fund his lawsuits and campaign…
As much as I’d just love to suffer through another press conference with roughly 10 reams of unprinted paper on the table to represent all the stocks he’ll be divesting, Trump has reduced the level of discourse and political expectations so much he’ll just claim democrats are the ones pushing for him to divest, refuse, and mainstream media won’t even cover it.
Unless it’s just the latest way eastern european oligarchs can launder money to him.
Woah, now! That’s a very specific allegation! You know perfectly well that oligarchs all over the world are laundering money to him.
The logic is it’s a megaphone plugged directly into the earholes of a shitload of very dumb, very angry people with plenty of disposable income. They might not give their money directly to Truth Social but Truth Social can give them lots of great ideas for who to give their money to.
The best and most expensive megaphone. It’s so great. You can write all these beautiful letters on it and you know folks, I can see those letters. Millions and millions of letters, in fact we have the best letters in the entire alphabet, it’s true. Nobody on the internet has such a beautiful letters as I have. I practically invented them. And you can own some of those letters by buying the best stock on the market. It comes with a special orange colored email when you buy them. Just that email will be worth a gazillion because of contains my letters.
Make the internet GREAT AGAIN, folks !!!
I mean I was looking at it this afternoon market cap of 2.7 billion for a bunch of dumb angry people, who are listening to their obesed, dementing orange wannabe Jesus. It shows as someone else mentioned in this thread, (some) tech companies are just inflated air castles. If Trumps platform 2.7b worth the the real Jesus Must be a multi trillionaire
with plenty of disposable income.
I would even wager a lot of those people don’t have the disposable income but dispose it anyway.
I dunno, I see a lot of 50K+ pickup trucks with Trump stuff all over them.
I know more than a few not-rich people with 50k+ pickups
I don’t think you drive a >50K pickup and don’t have some disposable income though.
Servicing the debt on a $50k pickup on an 84 month note at 12.35% is different than owning a $50k pickup outright.
Fair
That’s what they spent all their savings on.
True, yeah I guess the money they should be paying in child support or just feeding their kids isn’t technically ‘disposable’, but if Truth Social can get to it before the kids do… I guess they owned the libs…
Oh absolutely. They buy into his bullshit products because they think it will make them money, but in the end they’re worse off than when they started.
