Laffy
#Trump’s Truth Social is now a public company. Experts warn its multibillion-dollar valuation defies logic
“Despite the late-day slide, Wall Street is still assigning Trump Media an eye-popping valuation of nearly $11 billion — a price tag that experts warn is untethered to reality.”
https://www.cnn.com/2024/03/26/markets/trump-media-stock-truth-social?cid=ios_app
Ralph058 (S/he/it) AF4EZ
@socprof @GottaLaff I believe what we are seeing today is the attraction of the true believers. I know there are at least two short sellers who have a big bundle ($20M and $16M) on it. I've been wondering why.
I think they know it is a pump and dump and their going to use the $36M to aid and abet the fall when it dumps. I'm sure they have shorts on a date somewhat short of Trump's six months ban on selling. It sure would be sweet if they dumped at five months three weeks and four days.
I'm sure they know that the evaluation for the stock is about 5% to 10% of what it was trading for at close. I'm sure they know if they can trigger a panic it would go lower than that.
SocProf
@GottaLaff So much for the rationality of markets.
Stu Duerson, machina exo deus
It's operating like a micro-cap. I would suspect those giving it that evaluation are using current bid price, and pretending there's deep enough demand that the market price will stay there.
My initial contention is that demand at the current price is as deep as the Republican gene pool.
Time will flesh out what's happening here. Once the facts start coming in, I reserve the right to update.
Anvil of Truth
@GottaLaff Sell short! If it’s Trump branded it’s bound to fail, need I mention Trump Shuttle, Trump Casinos (5 bankruptcies for that alone) Trump Vodka, Trump Water, Ivanka Clothing, Trump Steaks, TRUMP UNIVERSITY a $25,000,000 judgment, Trump Signature Clothing! Everything Trump touches turns to debt, financial loss, personal embarrassment and CRIMINAL charges.
George Dinwiddie
@GottaLaff
But what a wonderful vehicle for foreign governments to funnel money to Trump!
Timo
@GottaLaff if Citizen Trump were a real billionaire, he would just latch onto a hedge fund and go loot a business for funding. That he has to stoop to the stock market and beg for stockholders says a lot about him. Like when he had to put up bail in Georgia.
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