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
      5·
      3 hours 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.

  • stoly@lemmy.world
    2·
    4 hours ago

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

  • acosmichippo@lemmy.worldEnglish
    14·
    8 hours ago

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

    • etchinghillside@reddthat.com
      10·
      8 hours 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
      23·
      7 hours 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
      7·
      4 hours 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
      8·
      6 hours 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·
      7 hours 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.