Trump Takes Truth Social Public as DJT , He's now worth $6B

[neverfstop]

OK this is buried in the thread about him & his bond problems that he doesn't have $500M.

How was he able to list & get this much money for a basically bogus social media platform??


His portion of the stock is worth $3B  (paywall)
www.bloomberg.com/news/articles/2024-03-25/donald-trump-6-4-billion-net-worth-makes-him-one-of-world-s-richest-people 

I looked up something similar & the NYT is only worth $7B but it's an actual business with real revenue. 

This looks like just another grift and a way for him to funnel money into his own pockets.

www.axios.com/2024/03/26/trump-truth-social-stock-djt 
Trump previously used "DJT" as the stock symbol for one of his hotel and casino companies, which filed for bankruptcy and was delisted.

The bull case: MAGA fans will buy and hold the shares out of political loyalty. Their own version of GameStop.
......
If this were being valued on the fundamentals, there wouldn't be much value.

[livinitup]

@neverfatop Thanks for the links but the “pages are not found”.

[neverfstop]

Mar 26, 2024 6:26:54 GMT -5 livinitup said:

@neverfatop Thanks for the links but the “pages are not found”.

Hmmm..if you C&P the link it works... Proboards is adding some thing on the end (vs. the text that's shown).  Try taking this off the end --> %C2%A0

[chickadee77]

While I'm overall pissed at the whole thing, part of me is sort of shrugging and thinking, "Welp, it's the American way." Which is probably a testament to how broken everything is in a capitalist society, but I'm tired and sick and don't feel like analyzing.

Also, normally I have a bit of a "They make the rules, we play by them," attitude toward making money in general, but we all know he's NOT following the rules. Like, big companies pay big bucks to find very small, but legal, loopholes. Okay, whatever, I guess. But he's not even doing that (as evidenced by his legal troubles) so enough with the wrist-slapping. Just nail him already.

[basilosaurus]

Mar 26, 2024 9:15:20 GMT -5 chickadee77 said:

While I'm overall pissed at the whole thing, part of me is sort of shrugging and thinking, "Welp, it's the American way." Which is probably a testament to how broken everything is in a capitalist society, but I'm tired and sick and don't feel like analyzing.

Also, normally I have a bit of a "They make the rules, we play by them," attitude toward making money in general, but we all know he's NOT following the rules. Like, big companies pay big bucks to find very small, but legal, loopholes. Okay, whatever, I guess. But he's not even doing that (as evidenced by his legal troubles) so enough with the wrist-slapping. Just nail him already.

Do you watch daily show? They had a great montage of rich assholes saying this is unprecedented, unfair, everyone does it, victimless crime and then a montage of those same rich assholes going all in on berating welfare fraud or stealing food.

And Kevin O'Leary is a real special kind of asshole. The clips covered most of it but not him saying diminishing tfg diminishes faith in an american brand. This isn't levis or calvin klein or mcdonalds. 

[Bad Dingo]

I don't understand this at all.

www.cnn.com/2024/03/26/markets/trump-media-stock-truth-social/index.html

[pixy0stix]

I wouldn't be surprised if more people end up in jail over this.

[neverfstop]

Mar 26, 2024 10:42:00 GMT -5 Bad Dingo said:

I don't understand this at all.

www.cnn.com/2024/03/26/markets/trump-media-stock-truth-social/index.html

Russian hackers are always a good explanation!  Or maybe the Chinese or Saudis funneling money....no need to hide it anymore. I'd love to know who is buying this...Expected to go to $2/share...there's no end to the fleecing he will do to people nor the people willing to part with their own money.  I need somebody to make a graphic that shows other major stock valuations vs. revenue/earnings to show how ludicrous this is.


The stock surged about 56% at the open, to $78, and trading was briefly halted for volatility. Trump Media shares have since stabilized at around $70, marking a 40% increase from Monday’s close.

Shares of Digital World Acquisition Corp., the shell company that became Trump Media Tuesday morning, have spiked about 300% so far this year. That includes a 35% surge Monday after the deal closed. Shares popped again at the start of trading Tuesday — investors’ first opportunity to trade the stock after the merger, under the new DJT ticker.
-----------
Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to filings. The company lost $49 million over that span.

[neverfstop]

Mar 26, 2024 11:04:34 GMT -5 pixy0stix said:

I wouldn't be surprised if more people end up in jail over this.

Agreed....the US government is pretty strict about large financial crimes & the stability of our economy (see Leticia james & NY laws).  I can't even fathom how much insider trading, lies, deception, false reports, and poor record keeping are going on at a now publicly traded company.  The SEC reporting requirements are  very stringent....

[wawa]

If we put Martha fucking Stewart in jail for shady trading, for the love of fluffy bunnies we HAVE to be able to take down Orange Foolius.

[jlt19]

How did this all happen in less than a week? Is it that easy to just get listed on the stock exchange?

This is like the biggest pump and dump scheme in history, besides Bitcoin, of course. But at least that’s been a long game.

[livinitup]

Mar 26, 2024 15:33:47 GMT -5 jlt19 said:

How did this all happen in less than a week? Is it that easy to just get listed on the stock exchange?

This is like the biggest pump and dump scheme in history, besides Bitcoin, of course. But at least that’s been a long game.

They used “DTJ” - which was listed decades ago as part of the Trump Casino Company. Which went bankrupt 30 years go and got de-listed.

[jlt19]

Mar 26, 2024 15:43:20 GMT -5 livinitup said:

Mar 26, 2024 15:33:47 GMT -5 jlt19 said:

How did this all happen in less than a week? Is it that easy to just get listed on the stock exchange?

This is like the biggest pump and dump scheme in history, besides Bitcoin, of course. But at least that’s been a long game.

They used “DTJ” - which was listed decades ago as part of the Trump Casino Company. Which went bankrupt 30 years go and got de-listed.

What absolute bullshit. But really, anyone dumb enough to buy into it deserves to lose all their money.

[livinitup]

Mar 26, 2024 18:59:03 GMT -5 jlt19 said:

Mar 26, 2024 15:43:20 GMT -5 livinitup said:

They used “DTJ” - which was listed decades ago as part of the Trump Casino Company. Which went bankrupt 30 years go and got de-listed.

What absolute bullshit. But really, anyone dumb enough to buy into it deserves to lose all their money.

Seems like folks are betting on Trump becoming president. So, then he’ll blow up Truth Social as the official communications platform of the White House (or unofficial but mostly official) to funnel tons and tons of money into. Because we know he will.

[pixy0stix]

I put in the other thread that one of the guys investing in the company is a billionaire Trump supporter. That's where all the money is coming from.

[basilosaurus]

Mar 26, 2024 19:43:54 GMT -5 pixy0stix said:

I put in the other thread that one of the guys investing in the company is a billionaire Trump supporter. That's where all the money is coming from.

And that's the guy who's come out as wanting to buy TikTok if it's banned which trump now conveniently supports

[neverfstop]

On to the next racket-
During Holy Week, Trump starts selling "his favorite book"...

The presumptive GOP nominee is encouraging supporters to buy the "God Bless the USA Bible," which draws inspiration from country singer Lee Greenwood's patriotic anthem, "God Bless the USA."

GodBlessTheUSABible.com licensed Trump's image from CIC Ventures LLC — the same company that owns the trademark to "The Never Surrender High-Top Sneaker" debuted in February.

www.axios.com/2024/03/26/trump-selling-bible-god-bless-the-usa

This has got to be peak Christian Nationalism and it's utter defilement.... I'm dying for a reporter to ask him to name a few books of the Bible or his favorite verse.

[jlt19]

Mar 26, 2024 19:43:54 GMT -5 pixy0stix said:

I put in the other thread that one of the guys investing in the company is a billionaire Trump supporter. That's where all the money is coming from.

So basically campaign donations, bailing him out of this mess, etc, etc, without having to follow any laws. Trump will drain it and the guy will take it as a loss. Win/win for them.

[fernweh]

Mar 27, 2024 5:26:14 GMT -5 neverfstop said:

On to the next racket-
During Holy Week, Trump starts selling "his favorite book"...

The presumptive GOP nominee is encouraging supporters to buy the "God Bless the USA Bible," which draws inspiration from country singer Lee Greenwood's patriotic anthem, "God Bless the USA."

GodBlessTheUSABible.com licensed Trump's image from CIC Ventures LLC — the same company that owns the trademark to "The Never Surrender High-Top Sneaker" debuted in February.

www.axios.com/2024/03/26/trump-selling-bible-god-bless-the-usa

This has got to be peak Christian Nationalism and it's utter defilement.... I'm dying for a reporter to ask him to name a few books of the Bible or his favorite verse.

There is a clip floating around the internet from when he was president. A reporter asked his favorite verse and he refused to answer because “that’s very personal and private”. They asked if he was a new or Old Testament guy and he said “both equally”.

I’m sure they would get a similar response out of him now because I don’t think the guy has ever opened a bible.

[aurora]

Mar 26, 2024 10:42:00 GMT -5 Bad Dingo said:

I don't understand this at all.

www.cnn.com/2024/03/26/markets/trump-media-stock-truth-social/index.html

It's almost as if capitalism isn't always the perfect way to optimize the market. People are sometimes motivated by other things. Who'd have known?

[basilosaurus]

Mar 27, 2024 5:26:14 GMT -5 neverfstop said:

On to the next racket-
During Holy Week, Trump starts selling "his favorite book"...

The presumptive GOP nominee is encouraging supporters to buy the "God Bless the USA Bible," which draws inspiration from country singer Lee Greenwood's patriotic anthem, "God Bless the USA."

GodBlessTheUSABible.com licensed Trump's image from CIC Ventures LLC — the same company that owns the trademark to "The Never Surrender High-Top Sneaker" debuted in February.

www.axios.com/2024/03/26/trump-selling-bible-god-bless-the-usa

This has got to be peak Christian Nationalism and it's utter defilement.... I'm dying for a reporter to ask him to name a few books of the Bible or his favorite verse.

I would call the ad a Poe if I just read the transcript, but I've watched it.

bill of rights, constitution, too, not that trump has read any of them. Oh and Lee greenwood. Lots of we live god word salad, Christians are under attack, what used to be fringe far right language

[sent]

Is Lee Greenwood ok or is he despicable?

They always have his song playing at the newer Shop Rites around here.

[elleblue]

Mar 28, 2024 11:49:19 GMT -5 sent said:

Is Lee Greenwood ok or is he despicable?

They always have his song playing at the newer Shop Rites around here.

He's terrible.

[basilosaurus]

Mar 28, 2024 11:49:19 GMT -5 sent said:

Is Lee Greenwood ok or is he despicable?

They always have his song playing at the newer Shop Rites around here.

he's in cahoots with a trump bible grift. That tells you all you need to know.

[sent]

Mar 28, 2024 22:38:03 GMT -5 basilosaurus said:

Mar 28, 2024 11:49:19 GMT -5 sent said:

Is Lee Greenwood ok or is he despicable?

They always have his song playing at the newer Shop Rites around here.

he's in cahoots with a trump bible grift. That tells you all you need to know.

Yup, says a lot.

I've been limiting googling this kind of stuff because then it slides into my social media feeds and I definitely don't need to see that. 

[TR]

Mar 26, 2024 22:39:35 GMT -5 basilosaurus said:

Mar 26, 2024 19:43:54 GMT -5 pixy0stix said:

I put in the other thread that one of the guys investing in the company is a billionaire Trump supporter. That's where all the money is coming from.

And that's the guy who's come out as wanting to buy TikTok if it's banned which trump now conveniently supports

I thought he was now against the ban, did he flip again? When he was president he wanted to ban it, now he's been saying if it's banned, it gives Zuckerberg/Meta more market share/power so he doesn't support a ban.

[akayf]

Mar 28, 2024 11:49:19 GMT -5 sent said:

Is Lee Greenwood ok or is he despicable?

They always have his song playing at the newer Shop Rites around here.

My Shop Rite has that song on constant repeat when in the entrance area…the large glass enclosed vestibule before you enter the actual store. They’ve been playing it for years. I never understood why.

I used to really like the song because we sang a great SATB choir arrangement in the high school in the early 90s. I was part of the group who entered the auditorium singing down the aisle and thought I was so cool. Lol

Now this song just irks me.

[sent]

Mar 29, 2024 8:46:05 GMT -5 akayf said:

Mar 28, 2024 11:49:19 GMT -5 sent said:

Is Lee Greenwood ok or is he despicable?

They always have his song playing at the newer Shop Rites around here.

My Shop Rite has that song on constant repeat when in the entrance area…the large glass enclosed vestibule before you enter the actual store. They’ve been playing it for years. I never understood why.

I used to really like the song because we sang a great SATB choir arrangement in the high school in the early 90s. I was part of the group who entered the auditorium singing down the aisle and thought I was so cool. Lol

Now this song just irks me.

I think those are the Shop Rites owned by Saker versus the ones they don't own which always seem to be the older ones without the vestibules. It's always either that song or Celine Dion's version of God Bless America. Their selection of music pre-dates the 2016 presidency so maybe they have some connection to 9/11. It is a very odd and specific choice of music.

[penguingrrl]

Mar 29, 2024 9:28:24 GMT -5 sent said:

Mar 29, 2024 8:46:05 GMT -5 akayf said:

My Shop Rite has that song on constant repeat when in the entrance area…the large glass enclosed vestibule before you enter the actual store. They’ve been playing it for years. I never understood why.

I used to really like the song because we sang a great SATB choir arrangement in the high school in the early 90s. I was part of the group who entered the auditorium singing down the aisle and thought I was so cool. Lol

Now this song just irks me.

I think those are the Shop Rites owned by Saker versus the ones they don't own which always seem to be the older ones without the vestibules. It's always either that song or Celine Dion's version of God Bless America. Their selection of music pre-dates the 2016 presidency so maybe they have some connection to 9/11. It is a very odd and specific choice of music.

Given that Richard Saker is a massive Trump supporter and donor, it’s not surprising at all. ShopRite has the best prices, but I haven’t been to one in years due to his ongoing support of Trump. He’s absolutely a right wing extremist and the musical selection in the stores reflects that.

[sent]

Mar 29, 2024 10:23:48 GMT -5 penguingrrl said:

Mar 29, 2024 9:28:24 GMT -5 sent said:

I think those are the Shop Rites owned by Saker versus the ones they don't own which always seem to be the older ones without the vestibules. It's always either that song or Celine Dion's version of God Bless America. Their selection of music pre-dates the 2016 presidency so maybe they have some connection to 9/11. It is a very odd and specific choice of music.

Given that Richard Saker is a massive Trump supporter and donor, it’s not surprising at all. ShopRite has the best prices, but I haven’t been to one in years due to his ongoing support of Trump. He’s absolutely a right wing extremist and the musical selection in the stores reflects that.

So it’s funny, I started typing that maybe the Sakers are Trumpers but then I remembered that the music predated his term in office. So I deleted it and figured 9/11 because we were discussing it in our house recently and I was giving them the benefit of doubt.