A fool and his money are easily parted. Trump's truth social stock crashes. classic pump and dump

No Ma’am

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desjardins

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yea this was expected
luckily I don't think Trump can come up off this, it's usually a waiting period before you can sell after an IPO
 

WIA20XX

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the cac mamba

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so he can sell it in october

he would never sell it before the election. and then, the moment he loses, it's gonna become completely worthless :mjlol:
 

Charlie Hustle

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Truth social is a wildly overpriced penny stock :pachaha:

Horstmeyer expects Truth Social’s stock price to swing 10% or more on a daily basis in the coming months. However, because the stock’s price is based on sentiment, not hard metrics like revenue and cash flow, the pattern is difficult to anticipate.

“It could either go down to $10 or up to $150,” he said. “The only thing I can predict is volatility.”

  • The share price of Trump Media closed 21.47% lower Monday, hours after the social media app company tied to former President Donald Trump reported a net loss of $58.2 million on revenue of just $4.1 million in 2023.
  • The newly publicly traded social media company of former President Donald Trump had total revenue of just $4.1 million last year, according to a Securities and Exchange Commission filing.
  • Trump Media & Technology Group ""expects to incur operating losses for the foreseeable future," says the filing.
  • Trump Media, which trades under the ticker DJT on the Nasdaq, owns the Truth Social app.

Trump Media, which makes money exclusively through advertising on Truth Social, has struggled to gain a broad audience. Truth Social’s website peaked this month at 277,000 U.S. visitors Tuesday, the first day of its public trading, according to estimates from the online analytics firm SimilarWeb. On the same day, Reddit saw more than 32 million U.S. visitors.

Trump invested no money in the company and owns about 60 percent of it — a stake worth about $4.6 billion. SEC filings last week said Trump was given 78 million shares of the company and stood to earn millions more over the next three years if the stock stayed above $12 to $17.

 

bnew

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1/3
Here we go….DJT shares registered for sale….

And if you are wondering WHY big donors would just dump big cash into this?
Unlike a political donation - you can use that loss to offset capital gains.

2/3
Also absolutely infuriating

3/3
It is LEGAL


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1/5
Trump Media & Technology Group/TMTG announced:
- share repurchase for some execs
- remittance of $2,908,708 plus penalties & interest to IRS & state tax authorities
- board director Don Jr appointed dir/honorary co-chair of Trump Vance 2025 transition team
https://www.sec.gov/Archives/edgar/data/1849635/000114036124038420/ny20032766x5_8k.htm

2/5
TMTG announcement also included:
- director Linda McMahon was also appointed as a director and co-chair of Trump Vance 2025 Transition
https://www.sec.gov/Archives/edgar/data/1849635/000114036124038420/ny20032766x5_8k.htm

3/5
Linda McMahon will head Trump Vance 2025 Transition with Howard Lutnick, Chairman and CEO of Cantor Fitzgerald
https://www.politico.com/news/2024/08/16/trump-transition-chair-00174367

Howard Lutnick helped take Rumble public - I reported here on close ties between TMTG and Rumble
Trump Media & Technology Group, Rumble, Cosmic Development

4/5
The Trump Media & Technology Group filing also included an update on various legal proceedings

https://www.sec.gov/Archives/edgar/data/1849635/000114036124038420/ny20032766x5_8k.htm

This article includes a summary of all of the updates

Trump Media announces share repurchase and IRS payment By Investing.com

5/5
Trump's TMTG filed registration statement for offer of up to 5,102,002 shares for:

WorldConnect IPTV Solutions - 2,550,000
JedTec LLC - 2,550,000
MZHCI, LLC DBA MZ Group - 2,002

First 2 relate to acquisition of content delivery network, 3rd is IR co
https://www.sec.gov/Archives/edgar/data/1849635/000114036124038409/ny20032766x1_s1.htm#tSSH


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