Donald Trump is the majority owner of Trump Media, which owns social media platform Truth Social and trades as DJT on the Nasdaq.
    • Biggles@lemmy.myserv.one
      11·
      3 months ago

      Book value per share is around $1.50. However, they don’t make any profit so the actual value of the company is considerably less. In my opinion, not financial advice.

  • acosmichippo@lemmy.worldEnglish
    16·
    3 months ago

    so not only is the stock plummeting, it means the employees there have no confidence in the company whatsoever lol.

    • etchinghillside@reddthat.com
      12·
      3 months ago

      Eh, consider selling and diversifying if you’re ever in this situation. (Not working for Trump Media – but an IPO after lockup expires.)

    • kenopsik@lemm.ee
      28·
      3 months ago

      “Lockup” is an investment term. When a company has an IPO (Initial Public Offering, which is the day they become publically available for stock trades), the big shareholders and company employees who are invested ahead of the IPO are “locked” from selling their shares for a certain number of days. This isn’t required, but most companies having an IPO end up having a lockup period set as well.

      In regards to this headline, it just means that the initial investors and big shareholders are now free to sell their shares, which they are apparently doing in droves!

    • IMongoose@lemmy.world
      13·
      3 months ago

      I thought about it but decided it wasn’t a good idea to use logic on a stock powered by vibes / fraud. “The market can stay irrational longer than you can stay solvent” and all.

    • roscoe@lemmy.dbzer0.com
      10·
      3 months ago

      I thought about that. Apparently the short interest was so high they were charging shorts crazy interest rates to borrow it. You’d have to bet on a huge drop in a very short amount of time. I can’t be bothered to look it up but I think it was something crazy like 40-50x a normal rate. One of the only reasons to hold was to charge short sellers interest, for a sane person anyway.

    • MagicShel@programming.dev
      5·
      3 months ago

      If I hadn’t been out of work for months, I’d have started an account just to short it. It’s rare to find such a sure bet.

    • iamanurd@midwest.socialEnglish
      1·
      3 months ago

      I looked into it. Apparently shorting it was really difficult/nearly impossible because of the high demand of people who were trying to short it.

  • Gointhefridge@lemm.ee
    4·
    3 months ago

    I bought puts, but at this rate, the company will be bankrupt before the contract expires in January.

  • stoly@lemmy.world
    2·
    3 months ago

    It sounds like the stock based just on the lockup ending rather than from heavy selling.