Truth Social Stock Is Circling the Drain

Wednesday, August 21, 2024

Michael Hiltzik: Hiding in plain sight in the first annual report issued by the parent company of Donald Trump's Truth Social platform was a statement of inescapable, well, truth.

Posted by reinheitsgebot at 07:33 AM | 13 COMMENTS | permalink

Comments

#ETTD

#1 | Posted by reinheitsgebot at 2024-08-20 04:20 PM

... Donald Trump is a month away from being able to turn his paper social-media fortune into cold, hard cash. The question is, will he?

The former president will be able to start selling bits and pieces of his $2.6 billion ownership in Trump Media & Technology Group Corp., whose share price has fluctuated wildly since going public through a special-purpose acquisition company merger in March. ...

Little else lowers a stock's price more than an abundance of shares for sale. ...

#2 | Posted by LampLighter at 2024-08-20 04:40 PM

It was only a matter of time...

#3 | Posted by earthmuse at 2024-08-21 07:40 AM

Womp Womp

x.com

#4 | Posted by reinheitsgebot at 2024-08-21 07:59 AM

It's hilarious watching these idiots lose all their money after investing in this scam.

#5 | Posted by Sycophant at 2024-08-21 10:23 AM

It's as if everything he touches dies. Except for that ear...curious...

#6 | Posted by LegallyYourDead at 2024-08-21 10:25 AM

This was always a grift.

I wonder how many dummies are out there that put their life savings into this p.o.s?

I've seen a few posts from the rubes who got suckered. When it finally craters I expect the magat tears to flow.

#7 | Posted by Nixon at 2024-08-21 10:56 AM

It's as if everything he touches dies.

I wonder if those bone spurs are still alive.

#8 | Posted by Nixon at 2024-08-21 10:57 AM

Trump owns so much of the company that he might be able to realize $1 billion or more via stock sales before other shareholders have a chance to get out the door without taking a loss.

Good, he will be able to pay NYS and E Jean Carroll out of the proceeds.

#9 | Posted by Nixon at 2024-08-21 11:00 AM

Pretty good grift, no matter how much he gets when he sells the shares. His followers are such suckers.

#10 | Posted by Whatsleft at 2024-08-21 11:54 AM

- he might be able to realize $1 billion or more via stock sales before other shareholders have a chance to get out the door without taking a loss.

This was always the Plan.

#11 | Posted by Corky at 2024-08-21 12:24 PM

Letitia James might already have the paperwork ready to file if Trump sells.

Unfortunately, there are still ways he can move the money out of her grasp.

#12 | Posted by Twinpac at 2024-08-21 02:32 PM

DJT is up more than 10% today, August 21. Significant movement in the stock price, in the absence of company news, is a clear sign of manipulation, typically a pump and dump scheme. The stock has seen similar movements this year, in every case with the price turning down. DJT has an intrinsic value of about $1 per share, which is the cash position on its balance sheet. The intangible assets have no value. Insiders can get out in about five weeks and the issue will quickly move to less than $5 per share. It will be exciting to see sellers trying to get their money out as soon as legally possible. Watch this space ...

#13 | Posted by catdog at 2024-08-21 02:57 PM

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