Still grossly overvalued.
Remember, this motherfucker bankrupted THREE casinos!
There is no limit to how badly he can fuck up a business.
Its true value is negative.
Sounds over-priced.
People are treating the “dump” part of a “Pump and Dump” like it’s some kind of a vindication, when suckers were already fully fleeced back at its $7B market cap peak.
It’s a Mastodon instance with a few thousand users trading at $16/share. Absolutely insane that anyone was buying this garbage at any price.
Absolutely insane that anyone was buying this garbage at any price.
That bribery money wasn’t going to launder itself.
Correct answer.
It matters because Trump becomes free to sell his shares on September 19 (a week from today). I, for one, am hoping that the price goes to $0 and it gets delisted by then!
He’s been able to borrow against them for some time. Someone is already holding the bag.
If he floods the market with shares, I wouldn’t be surprised if the price craters so hard it gets delisted.
Putting aside any feeling you may have for or against Trump, WTF does TMTG do? From what I can tell, it runs Truth Social and is planning to launch a streaming service.
I did some quick googling and Truth Social appears to be a mastodon instance with a non-default backend that is free to use with 600k active monthly users.
Facebook alone (not including other META products) has 2.9 billion active monthly users.
What’s so valuable about it? Sure, they are probably running ads. But why would someone advertise on Truth Social over Facebook? Is the conversion rate somehow better on truth social?
Money laundering.
From stock sales? Are they buying directly from the company? If not, I don’t think the company sees the money
The idea was that the Saudis and Russians pump money into the stock to keep the price propped up until Donny can cash out, but that only works if you have enough cash to backfill the volume ratio as needed. It would work a lot better if they could have been quieter about it, but Trump basically makes billions as long as the price doesn’t actually go to zero since his shares are grants for using his “brand.”
It’s not so much money laundering as a completely legal path for foreign agents to buy favors from a possible US President.
Are they buying directly from the company?
Exactly, you guarantee you’ll buy shares of my company and I guarantee I’ll make decisions that benefit you.
Usually you buy from a market maker though
In this scenario the market maker and the briber are the same person.
Market makers only need to be willing to buy like 100 shares, that’d be pretty trivial for people with resources.
That’s less than $2k… Is the trade volume that low?
It’s not valued based on any normal metric. It’s pure meme, speculation, cult and money laundering.
I doubt many investors even look at conversion rates.
Smells very similar to NFT
Non Flushable Turds?
What’s so valuable about it?
Nothing.
It’s a very unusual situation.
It’s basically a proxy for a bet on whether Trump will get a second term. That’s why it took a dump after the debate didn’t go well.
Supporters want to say they have some TMTG shares, and are happy to pay absurd prices for shares without reference to the actual value.
And outside the cult, it’s a bet that Truth Social would become a vector for bribing the president of the United States. If people are going to bribe Trump by pumping his share price, you can get a cut.
TMTG has a huge net operating loss. I think that the way the company is bribed is in investment funds.
However, I don’t think they are bribing him by pumping his share price. IIRC (take this with a hugeeeee grain of salt) the share price is determined by the last transaction price. If you place a market order, it’s the sell prices that would fulfill your order amount. On the other hand, a limit order is fulfilling your order at a set price. It would take consistent investment over time to create enough transactions to keep the stock price high.
Hence, I think TMTG is receiving large cash infusions and Trump is getting paid through bonuses or something similar. Cheaper and more direct
But why would someone advertise on Truth Social over Facebook?
Because I could sell star spangled shit on a shingle to that lot for a premium.
Oh come on just because we hate Trump doesn’t mean we should kid ourselves, there’s a lot of value to having access to 600k of the easiest to scam rubes on the planet.
Money + laundering of said money = most shit Dump has his name on
600k active accounts. Maybe half of them are real Americans.
Everybody be on guard. That uncle is about to hit you up for money after they put all of their non-Trump NFT money into DJT stock.
When is he allowed to cash in on his scam? That’s when the uncles will be leaving increasingly desperate phone messages that you will never check.
One day Jerboa will support animated gifs…
That sucks. I use Sync.
Oh, Donnie, NO! Margie, are you going to buy more stock to prop this up for your big wet boy?
Reminder that genius investor Marge was also holding the bag on $CRWD during the global outage that happened a while back. So. Much. Winning.
I wonder if that’s because most of its value is predicated on him being able to gain an unfair advantage due to his potential position in office.
If so, then this is probably a more accurate indicator of his chances in the election than any pollsters.
It’s exactly this reason.
Russian money will be coming in at any moment
What do you mean by that?
Line must go down
Ha, fucking ha.
lol
