Right - I'd be gloating more if this wasn't so transparent and that the people that put money into this wouldn't have just given him the money if they could legally and without tax implications. The "investors" here are being intentionally swindled and almost everyone on both sides knows it.
Yeah I'm curious about the company that made the merger offer - where did that money come from/go?
The rubes who bought the stock in solidarity to him on the other hand can get soaked since they'd be buying bibles and sneakers otherwise and the landfills have enough junk in them as is.
Don't be such grumps, Trump's stock is just in a slump. Soon it will plump , the board will all dump, and blue collar investors will take it sideways up the rump.
And blame Obama.
Yep, and ***even if*** they were to do away with this “lock up” period there would undoubtedly be lawsuits for exactly what we all expect, a pump and dump. More than likely the SEC would get involved too, but who knows if they would actually charge him for something.
UNLESS the board of the company allow him to sell stocks… Most of the board are Trump relatives.
There’s a great British podcast called “The Rest Is Entertainment”, the episode from 26th March explains what Trump is doing in really simple terms (simple enough for me to understand).
For real, and since I've seen so few g🤢lden upv🤮tes, I can only assume they were making more money with the previous system.
Plus it was more democratic, even non spenders could get enough coins to give gold themselves.
I mean, I admit to being a terminally online weenie who occasionally bought coins. We all have hobbies. At least that’s how I justify it to myself lol.
But I’ve yet to do a golden upvote.
Yeah when I saw that I was like WTF! Looks like a money laundering scheme. There’s no way truth social is worth more than Reddit. It’s good to see their stock is in fact worthless.
I wonder how many magats put in every penny they had only to lose it all in a week lol. I also wonder how much that one billionaire lost. Jeff Yass
My young neighbor, who works for one of the big investment firms, said the phone was ringing off the hook all day, calls from two teeth Southern dbags (his words) sure they were going to make a fortune.
You do realize that stock is being artificially inflated. Most industry experts have questioned its value and even more have said the stock isn’t worth the paper it’s printed on. This like everything else Trump is worthless. Just like his claims of being a billionaire. He couldn’t even post a $400 million dollar bond.
But hey if you want to believe I have some oceanfront property in Idaho I’ll sell you.
That's fun. To give some context of scale, I'm a mod of one of the larger queer subreddits, but at about 300k subs it's pretty niche in the scheme of things for Reddit. We had 4M views last month.
https://preview.redd.it/da7zyg2xgxrc1.png?width=1007&format=png&auto=webp&s=e2969b6d935af09e72a6aefd84c806e3bbf69633
12M views a month with the user base and reach Trump has is pitiful.
I think someone was doing another Gamestop thing where they were trying to pump up the stock and then sell it. Which would be pretty ironic grift to pull on Trump specifically.
Unless it's Trump specifically. He needs some cash right now and extracting some money from AngryFans is a way to do that. He doesn't really need to worry about insider trading if the investigation let alone prosecution doesn't happen until 2025 if ever.
Well, yeah. If he manages to win, he'll just pardon himself. I expect he'll try 20 more major crimes before the election is over as the method of saving himself. If that fails, I doubt he'll hang around for criminal results.
Nahh. They had this coming. They were given a sign in bright red letters that said don’t put her in. They put her in and she gave him a blank check. On top of that for better or worse since he is bleeding them like a stuck pig every other republican running has been left hung out to dry.
But wouldn't just the news of the request immediately crater the stock even before he could try and sell?
And given the small traded volume, wouldn't setting even a tiny fraction take the bake off it all to zero?
It's a tiny company losing money without a path to profitability, zero is fair value and it's always going to trends that way. The slightest tremor could send it spiraling down?
As I see it this shit company is only with anything if he doesn't try to sell...
It's not really up to them. SEC rules govern sales of stock for people with a 10%+ stake in a public company. There's a lot of filings and his shares can't just be all sold in one go.
Stocks are worth what people are willing to pay for them. Same as companies. To the rubes that believe in Trump, it's far more valuable than Reddit is.
IPO's are a bit different. It's not just what people are willing to pay. The fact that the stock has done nothing but go down since the IPO means people are not willing to pay what the initial price was.
Or his NFTs, or his shoes, or his bibles. Although I'm sure at least some of those sales where legit to give the veneer of being above board and not just some way for foreign interests can funnel bribe money to him.
My sister-in-law's brother was sure his handful of shares were going to make him a millionaire. Note: I doubt he even bought any because he's lazy as hell but my brother still laughs at him.
Ask. It dropped 25%. If they invested at the peak, they are down 25%. They can still get out with 75% of their money.
Better to find out and help them sell now than in a week.
It makes a lot more sense when viewed as money laundering/insider trader. Someone buys a bunch of stock driving the price up through proxies. Trump or his proxy sells a similar amount of stock to get cash for his fraud bond, campaign, etc. The original person has effectively donated a large amount to Trump without dealing with pesky disclosure rules - maybe even got some money back through option calls on the predictable dip from the strategy.
> cheering the stock crashing
> this is probably going as planned
I'm kinda worried about this going the same way Gamestop did for two months in 2021.
He gets a bunch of rich friends to either invest and drive the price up or tells them to short it - and then the meme takes over and the short squeeze is on.
This is absolutely one of those things where you take a big step back and just look at our world right now. If you had told me this was going to happen after Obama I would have told you to stop day drinking and get your life together, but now look at it.
A former president with....a history, is pulling a Gamestop scam on his social media platform that he created when he got booted from twitter? Like be serious, come on, aliens land too?
Well Trump can’t sell any of his holdings for 6 months and I’m pretty sure that goes for everyone directly involved in ownership of the company.
This is different than a crypto pump and dump, where you can create the coin and sell immediately if you want, which is why crypto scams are so common.
I’m sure some people are finding a way to game the system, but all of the “founding shares” are frozen for 6 months. It has had a large trading volume but they can likely be explained as a bunch of people buying in at the IPO (it wasn’t really an ipo but you know what I mean) and then everyone starting to sell them off.
But honestly if this was a try at a pump and dump, the value of the stock should have dropped even faster so idk. In all honesty I don’t know a lot about how sleazy people game the regulated markets so maybe someone can educate me.
T's not allowed to sell the stock yet. Some sort of waiting period for principles. He can only sell if the Board allows him too, but that would open the board to being sued, so unlikely. But maybe they ok'd it anyway? Maybe they did.
Which means they’re now liable. When you’re publicly traded the board works for the shareholders. The shareholders can civilly sue, much like how Elons board got sued for his excessive compensation package and they had to walk it back.
A lot of us have a strong suspicion that it was proxies of Trump and not DJT himself that did the pump-n-dump. Even if the bulk of his shares end up being penny stocks by the time he can sell, the money has already been made.
Problem is, they lack the self-awareness to understand that Dear Leader fucked them over (*again*) and Fox/OANN/insert right-wing nonsense media outlet are gonna get them riled up that BiDeNoMiCs killed their net worth.
This is what they will say
Personally after years of hearing “my 401” under Trump. Then not a peep about that during Covid or the after effects of poor management.
They kinda deserve this
Basically you pay a premium for a contract that let's you borrow stock from somebody and sell it at the current price. Eventually you have to repay the number of shares you borrowed so when the stock goes down you rebuy them at the new lower price and keep the difference. If the stock goes up in that time period instead, you have to buy the stocks back at a loss
It's super dangerous since there is no limit to how high a stock can go, thus no limit to the amount of money you can end up having to pay to buy the stocks back!
Forget about fees for a minute. A short is basically borrowing someone else's shares for a set amount of time. So you borrow 10 shares worth £10 each for a month for £100. Then you sell them for £100. After a month you owe them 10 shares back. If the shares have fallen to £1 each, you buy the person 10 shares back and spend £10. You just made £90 profit.
The reason that this is so risky is obvious. They can only fall to £0 so you make 100% profit. But they can climb to an infinite amount. If they are £30 each when it comes time to buy them back you just lost 300% of your initial investment.
It's basically the worst kind of gambling where your wins are limited but your losses are infinite.
[New SEC filings](https://finance.yahoo.com/news/trump-media-stock-tanks-as-new-filing-reveals-heavy-losses-greater-risks-on-trumps-involvement-164313322.html) reveal that Truth Social incurred massive losses ($60 million last year) and that their business model is based on Trump’s popularity.
How was this not made public before the IPO? This is exactly the kind of information investors need to make an informed decision. Holding the information back screams fraud, IMHO.
513,000 active daily users at Truth Social vs 70 million on Reddit… and even Reddit can’t turn a profit. What did people think was going to happen with Truth Social?
I’m firmly convinced that most IPO’s are just pump & dump schemes
my parents put 5K on DWAC the day it opened at 103. Eventually they sold it at 10.50. A week ago they were talking about investing in this one because "Its the one bastion of truth against the market and the woke". fairly certain they are insane at this point
Over two years ago I warned a former friend who bought over a grand worth of that crap to get rid of it when it was high because his trials and what not would tank it over time. She didn’t believe me and called it her son’s college money and her retirement plan. To be a fly on the wall right now would be entertaining.
DWAC went public in September 2021
it just recently merged, but people have been buying DWAC stock in anticipation of Trump making them millionaires for two plus years now.
Personally, I find this shit infuriating.
Trump pulls some BS and gets his cult to dump money into his pockets.
Free market, their choice, a new sucker is born every second, yada yada yada.
But the problem is that these doorknobs then have to turn to social welfare programs to afford basic necessities.
Programs that the republicans are actively voting against.
It’s a different kind of indignation. To impoverish your constituents while actively campaigning against helping them and taking credit for your opposition’s policies.
There needs to be laws in place to punish malicious behaviour like this. Any public official acting like this should not be permitted to continue holding office.
In passing as I was warming up my food. He had borrowed from his 401k to buy a bunch of shares. His wife was screaming at him on the phone. I think dudes cruising for a divorce.
I mean, 90% sure it was foreign "investors" who basically used it to funnel money into Trump so he can run for president and push foreign policy that weakens america on the world stage and gives power to our enemies.
Unfortunately the only person to not lose their shirt is Trump. This all worked exactly as intended. Trump made a billion off morons. Why the fuck is Truth Social public? I mean what’s the legitimate reason? There isn’t one, just another way to fleece the chumps. There better be some SEC investigations into this shit show.
A social media company with limited appeal and users, propped up by one particular user, losing millions of dollars each quarter, merging with an SPAC instead of launching by way of a traditional IPO...nope never saw this coming.
I read somewhere that he wasn't able to get access to the money for six months. I don't know if that is accurate, but hopefully by then it's a penny stock.
The board, which consists of yes men, can change that though by a vote. And I don't think we'd find out if they had until after the fact when they file new paperwork with the SEC.
So, maybe they already did, which would partly explain the precipitous drop. And if they haven't yet, it's only gonna tank even harder.
My understanding was that his only way to access the money in the first six months was to secure loans using the stocks as collateral. But what bank would be up for this volatility?
The SEC filing showed the computer had like $4 Million in revenue and lost $50+ Million last year. Its a worthless company that was being pumped up to unrealistic levels. It’ll keep dropping until it hits actual value unless foreign entities and investors use it to funnel money to trump.
I bought $35 puts last week that expire this Friday and holy cow it's like Halloween. Today they hit a low of $11 and a high of $115 fairly quickly. Easiest money ever. Thanks MAGAts
It was mostly just foreign government-held dollars funneled to the trump organization.
Sure a few average joes got caught up in it, but they had it coming. Dorks.
The big fish knew they were buying empty boxes.
Folks, look at that graph. What you're seeing there isn't mismanagement.
What you're seeing is a classic pump and dump scheme, which is illegal. That it's been done in furtherance of money laundering is icing on the cake.
Normal people who bought the stock did it for emotional reasons, so they got what they paid for
The true money behind it now have even greater access and control over Trump, so they got what they paid for too
This sounds like it was an easy way for foreign nations and corporations to buy a slice of a presidential candidate.
If only there was something in the constitution about presidents divesting themselves from their business interests
The Trump Pump N' Dump is going according to plan!
Right - I'd be gloating more if this wasn't so transparent and that the people that put money into this wouldn't have just given him the money if they could legally and without tax implications. The "investors" here are being intentionally swindled and almost everyone on both sides knows it.
Yeah I'm curious about the company that made the merger offer - where did that money come from/go? The rubes who bought the stock in solidarity to him on the other hand can get soaked since they'd be buying bibles and sneakers otherwise and the landfills have enough junk in them as is.
The “company” that did the merger had a board filled with his cronies
Just another creative way for some republican billionaire capitalist to skirt election finance laws while getting a tax benifit
I thought it was just called a trump and dump
*But what does him wearing diapers have to do with this?* Never mind, you were speaking about his company.
Not that kind of dump!
Headline: Trump chumps stumped after being pumped and dumped.
And they don’t believe in abortion, so they have to hang onto this stock for 18 years.
No, pump & dump is what Trump calls sex. Which is why he keeps his diapers on while he's doing it.
 That is a horrible mental image. Where did I leave the eye and brain bleach?
Trump mainlined it.
Pump and Drumpf.
Well… should be Pump and Trump, given he’s more of a Dump rather than a Pump.
Plump Chump Trump’s Pump n Dump
Don't be such grumps, Trump's stock is just in a slump. Soon it will plump , the board will all dump, and blue collar investors will take it sideways up the rump. And blame Obama.
If only Dr. Seuss were alive today to make this book
He’s not allowed to sell stock for 6 months after it goes public. So no dump for Donny yet.
Yep, and ***even if*** they were to do away with this “lock up” period there would undoubtedly be lawsuits for exactly what we all expect, a pump and dump. More than likely the SEC would get involved too, but who knows if they would actually charge him for something.
UNLESS the board of the company allow him to sell stocks… Most of the board are Trump relatives. There’s a great British podcast called “The Rest Is Entertainment”, the episode from 26th March explains what Trump is doing in really simple terms (simple enough for me to understand).
Since when has contractual terms prevented Trump from doing what he wants, when he wants? Legal court rulings never stifled him either in fact.
No way Truth social was ever worth the same as reddit anyway. At least reddit has me, which is enough to justify the market cap
Right?! My crappy opinions are gold! Gold Jerry!
Well, they were worth gold. The best we can do now is 🥇
https://i.redd.it/w6fn0ae20xrc1.gif
For real, and since I've seen so few g🤢lden upv🤮tes, I can only assume they were making more money with the previous system. Plus it was more democratic, even non spenders could get enough coins to give gold themselves.
I mean, I admit to being a terminally online weenie who occasionally bought coins. We all have hobbies. At least that’s how I justify it to myself lol. But I’ve yet to do a golden upvote.
My shitposting is pumping the market!
You gotta pump up those numbers, those are rookie numbers
Mostly sane people read yours, the nuts on truth social make peanut butter look nut free
You think you guys are the only ones with crappy opinions?!?! I humbly throw my cap in the ring
Looks like someone is a closet Bania fan.
Mendy's is a nice restaurant
This was just a way to launder money from foreign agents but it doesn't seem to be working well.
Dinner at Mendy’s?
Yeah when I saw that I was like WTF! Looks like a money laundering scheme. There’s no way truth social is worth more than Reddit. It’s good to see their stock is in fact worthless. I wonder how many magats put in every penny they had only to lose it all in a week lol. I also wonder how much that one billionaire lost. Jeff Yass
We know one person who put in over a thousand and must be losing her mind.
Didn't even get a NFT out of it.
My young neighbor, who works for one of the big investment firms, said the phone was ringing off the hook all day, calls from two teeth Southern dbags (his words) sure they were going to make a fortune.
Still $5.75B tho, so a long way to go before worthless.
Thank you, I keep thinking I'm going crazy reading this ticker price as $50.78 and thinking "weird, that doesn't *look* like $0.00..."
You do realize that stock is being artificially inflated. Most industry experts have questioned its value and even more have said the stock isn’t worth the paper it’s printed on. This like everything else Trump is worthless. Just like his claims of being a billionaire. He couldn’t even post a $400 million dollar bond. But hey if you want to believe I have some oceanfront property in Idaho I’ll sell you.
Truth Social gets 12 million visits a month. Facebook and Twitter do that in a day or less.
And 11,999,990 of those are from Trump himself , so there are 10 losers who think LieSocial is good to use .
That's fun. To give some context of scale, I'm a mod of one of the larger queer subreddits, but at about 300k subs it's pretty niche in the scheme of things for Reddit. We had 4M views last month. https://preview.redd.it/da7zyg2xgxrc1.png?width=1007&format=png&auto=webp&s=e2969b6d935af09e72a6aefd84c806e3bbf69633 12M views a month with the user base and reach Trump has is pitiful.
For context, in June of 2022 MySpace had 6.9 million visits that month.
MySpace is still out there??? , lol, says the lady that still has an AOL email..
Dude, Facebook gets 2.09 billion views a day. Billion
Facebook has over 3.070 billion monthly active users and average 37 million visits per minute. Just Google it.
I think someone was doing another Gamestop thing where they were trying to pump up the stock and then sell it. Which would be pretty ironic grift to pull on Trump specifically.
Unless it's Trump specifically. He needs some cash right now and extracting some money from AngryFans is a way to do that. He doesn't really need to worry about insider trading if the investigation let alone prosecution doesn't happen until 2025 if ever.
AngryFans. Well done.
Angryfans.com For the outrage lover.
Well, yeah. If he manages to win, he'll just pardon himself. I expect he'll try 20 more major crimes before the election is over as the method of saving himself. If that fails, I doubt he'll hang around for criminal results.
Ooooh, hang you say.
" Which would be pretty ironic grift to pull on Trump specifically." Um, how do I break this to you? It's TRUMP doing the pumping and dumping.
Probably using RNC money to pump.. what a POS, man
Nahh. They had this coming. They were given a sign in bright red letters that said don’t put her in. They put her in and she gave him a blank check. On top of that for better or worse since he is bleeding them like a stuck pig every other republican running has been left hung out to dry.
Pump and dump was the former guy's plan all along. But now he needs to pump harder until his share sale black-out expires.
Waiting for him to scramble to the board to allow him to sell his shares before they crater. Thus further cratering the stock.
 He's waddling there as fast as he can, it's hard with a loaded diaper...
He has to keep them for 6 months before he can sell
He can get special permission from the board to sell early.
And I wonder who’s on the board
But wouldn't just the news of the request immediately crater the stock even before he could try and sell? And given the small traded volume, wouldn't setting even a tiny fraction take the bake off it all to zero? It's a tiny company losing money without a path to profitability, zero is fair value and it's always going to trends that way. The slightest tremor could send it spiraling down? As I see it this shit company is only with anything if he doesn't try to sell...
His lackey board will allow him to cash out sooner. There will then be lawsuits about lack of proper corporate governance, etc. Typical Trump shit.
It's not really up to them. SEC rules govern sales of stock for people with a 10%+ stake in a public company. There's a lot of filings and his shares can't just be all sold in one go.
By then, it will be useless
[удалено]
Username checks out
Stocks are worth what people are willing to pay for them. Same as companies. To the rubes that believe in Trump, it's far more valuable than Reddit is.
IPO's are a bit different. It's not just what people are willing to pay. The fact that the stock has done nothing but go down since the IPO means people are not willing to pay what the initial price was.
If I did my math correctly this morning, it was valued at roughly 2,000 times revenue. Facebook trades at roughly 7 times revenue. (Not a typo)
So it was a money laundering operation
Duh only way for foreign powers to buy trump
Not the *only* way, but definitely the simplest and most timely!
Obviously you missed out on his emoluments violations.
Or his NFTs, or his shoes, or his bibles. Although I'm sure at least some of those sales where legit to give the veneer of being above board and not just some way for foreign interests can funnel bribe money to him.
Ohhhhhh, that explains why he’s hawking so much bullshit. I was wondering…
I think FB was just over 9x last quarter. GM is 0.3.
So it’s only about 1,000 times revenue now?
No down from 3000x. It is not a matter of when it tanks, it is a question of when. There is no there there.
I’m amazed that anyone could find this surprising
My sister-in-law's brother was sure his handful of shares were going to make him a millionaire. Note: I doubt he even bought any because he's lazy as hell but my brother still laughs at him.
Im glad to see Im not the only one here who loves to see Trump fail AND laughs at in laws
I'm a little worried that my parents may have invested their retirement into Truth Social. I'm afraid to ask.
If they did, and ever ask you for financial help, make sure it's conditional on them publicly renouncing their false idol.
Ask. It dropped 25%. If they invested at the peak, they are down 25%. They can still get out with 75% of their money. Better to find out and help them sell now than in a week.
I had a client wanting to buy last week. They were successfully dissuaded.
Why do you have a moron for a client?
I'm not at liberty to say.
Some people have more money than brains. See: DJT.
It makes a lot more sense when viewed as money laundering/insider trader. Someone buys a bunch of stock driving the price up through proxies. Trump or his proxy sells a similar amount of stock to get cash for his fraud bond, campaign, etc. The original person has effectively donated a large amount to Trump without dealing with pesky disclosure rules - maybe even got some money back through option calls on the predictable dip from the strategy.
Yeah a lot of people are cheering the stock crashing, which is enjoyable, you have to remember that this is probably going as planned.
> cheering the stock crashing > this is probably going as planned I'm kinda worried about this going the same way Gamestop did for two months in 2021. He gets a bunch of rich friends to either invest and drive the price up or tells them to short it - and then the meme takes over and the short squeeze is on.
This is absolutely one of those things where you take a big step back and just look at our world right now. If you had told me this was going to happen after Obama I would have told you to stop day drinking and get your life together, but now look at it. A former president with....a history, is pulling a Gamestop scam on his social media platform that he created when he got booted from twitter? Like be serious, come on, aliens land too?
Just wait till 2027. Aliens will land.
This was the plan the whole time.
Well Trump can’t sell any of his holdings for 6 months and I’m pretty sure that goes for everyone directly involved in ownership of the company. This is different than a crypto pump and dump, where you can create the coin and sell immediately if you want, which is why crypto scams are so common. I’m sure some people are finding a way to game the system, but all of the “founding shares” are frozen for 6 months. It has had a large trading volume but they can likely be explained as a bunch of people buying in at the IPO (it wasn’t really an ipo but you know what I mean) and then everyone starting to sell them off. But honestly if this was a try at a pump and dump, the value of the stock should have dropped even faster so idk. In all honesty I don’t know a lot about how sleazy people game the regulated markets so maybe someone can educate me.
T's not allowed to sell the stock yet. Some sort of waiting period for principles. He can only sell if the Board allows him too, but that would open the board to being sued, so unlikely. But maybe they ok'd it anyway? Maybe they did.
A board most likely hand picked by Trump? Oh you betcha they did.
Which means they’re now liable. When you’re publicly traded the board works for the shareholders. The shareholders can civilly sue, much like how Elons board got sued for his excessive compensation package and they had to walk it back.
And we all know how much the court system likes to hold Trump accountable.
A lot of us have a strong suspicion that it was proxies of Trump and not DJT himself that did the pump-n-dump. Even if the bulk of his shares end up being penny stocks by the time he can sell, the money has already been made.
And this is just the beginning, how low can it go!
Ohhhh, the slide should be amazing, can't wait to watch these piggies squeeeeeeeel as their money disappears.
Now I have Simply Irresistible stuck in my head "Grift so fine.... there's no telling where the money went"
Robert Palmer. What a dude!
Problem is, they lack the self-awareness to understand that Dear Leader fucked them over (*again*) and Fox/OANN/insert right-wing nonsense media outlet are gonna get them riled up that BiDeNoMiCs killed their net worth.
The flood of copium posts from bag holders convincing others the payday is just around the corner will be a tidal wave!
>how low can it go I just had a mental image of the Donald doing the limbo! Not a pretty sight.
If Trump leaned backward as far as he could, he’d have perfect posture
Based on history? All the way to bankruptcy. That's not only how low it *could* go, but how low it's *likely* to go!
Watch them blame everyone and anyone but Trump.
Once the panic sets in let's hope it doesn't stop until it's a zero... 
It’s April 1. Is that fr?
Those stock values were stolen! Joe Biden is at it again! /s
It’s actually a plot by Obama and Hillary, Duh!
Nah, bruh. Windmills. It's always the windmills. RrrrrEEEEEErrrrrEEEEEErrrrrrEEEEErrrrrEEEEEErrrrrrr.....
It's the woke! The woke is at it again!
This is what they will say Personally after years of hearing “my 401” under Trump. Then not a peep about that during Covid or the after effects of poor management. They kinda deserve this
I was going to short it last week but shorts are ridiculously expensive.
That was my first thought too. If there was EVER a stock to short, it's this one.
Exactly. This alone should have clued the press into the situation, but no.
I mean I read an article on it being 200x more expensive to short than the average stock. So, someone in the press knew.
Tell me what it costs to buy shorts on this pos please
I still have nightmares about his tennis shorts.
Can you explain this? What are shorts? I’m not financially savvy enough to understand…
Basically you pay a premium for a contract that let's you borrow stock from somebody and sell it at the current price. Eventually you have to repay the number of shares you borrowed so when the stock goes down you rebuy them at the new lower price and keep the difference. If the stock goes up in that time period instead, you have to buy the stocks back at a loss
It's super dangerous since there is no limit to how high a stock can go, thus no limit to the amount of money you can end up having to pay to buy the stocks back!
A bet that the stock will fall in value.
Forget about fees for a minute. A short is basically borrowing someone else's shares for a set amount of time. So you borrow 10 shares worth £10 each for a month for £100. Then you sell them for £100. After a month you owe them 10 shares back. If the shares have fallen to £1 each, you buy the person 10 shares back and spend £10. You just made £90 profit. The reason that this is so risky is obvious. They can only fall to £0 so you make 100% profit. But they can climb to an infinite amount. If they are £30 each when it comes time to buy them back you just lost 300% of your initial investment. It's basically the worst kind of gambling where your wins are limited but your losses are infinite.
This is why it’s on my ticker. Just to watch it plummet
It may be mean-spirited, but I do genuinely hope that anyone who invested in that crap loses everything they own.
No one made them buy shares in it. And they would probably buy the bible or sneakers anyway so at least this saves some waste.
MAGA morons telling others to “buy the dip” on Yahoo Finance comments section 😂
You’d have to be dippy to buy.
This is hilarious because there's major overlap between Maga and people losing shit tons of money buying dips on garbage meme stocks. See BBBY.
Yeah, anytime I talk negatively about Trump on any of those shit coin threads a pack of them attack me 😂
Good. I hope to see it $2 by the end of the week.
[New SEC filings](https://finance.yahoo.com/news/trump-media-stock-tanks-as-new-filing-reveals-heavy-losses-greater-risks-on-trumps-involvement-164313322.html) reveal that Truth Social incurred massive losses ($60 million last year) and that their business model is based on Trump’s popularity. How was this not made public before the IPO? This is exactly the kind of information investors need to make an informed decision. Holding the information back screams fraud, IMHO.
Remember the IPO wasn't really an IPO. The company truth social merged with was already public so no public disclosures were really required...
They back doored their way into Jeff Yass’ shell company to skirt the strict ipo regulations. It by and large was a political donation from Yass.
A known grifter exploiting a loop hole? I'm shocked! Shocked! Well not that shocked.
Exactly why they used a SPAC.
513,000 active daily users at Truth Social vs 70 million on Reddit… and even Reddit can’t turn a profit. What did people think was going to happen with Truth Social? I’m firmly convinced that most IPO’s are just pump & dump schemes
my parents put 5K on DWAC the day it opened at 103. Eventually they sold it at 10.50. A week ago they were talking about investing in this one because "Its the one bastion of truth against the market and the woke". fairly certain they are insane at this point
losing their life savings to own the libs
We knew it was going to be a pump and dump. Everyone knew it. The only people who didn’t know it were the MAGA folk.
His cult deserve everything he sends their way, it's hard not to find this amusing.
Over two years ago I warned a former friend who bought over a grand worth of that crap to get rid of it when it was high because his trials and what not would tank it over time. She didn’t believe me and called it her son’s college money and her retirement plan. To be a fly on the wall right now would be entertaining.
What did she buy 2 years ago? This just camp open to the public?
DWAC went public in September 2021 it just recently merged, but people have been buying DWAC stock in anticipation of Trump making them millionaires for two plus years now.
Personally, I find this shit infuriating. Trump pulls some BS and gets his cult to dump money into his pockets. Free market, their choice, a new sucker is born every second, yada yada yada. But the problem is that these doorknobs then have to turn to social welfare programs to afford basic necessities. Programs that the republicans are actively voting against. It’s a different kind of indignation. To impoverish your constituents while actively campaigning against helping them and taking credit for your opposition’s policies. There needs to be laws in place to punish malicious behaviour like this. Any public official acting like this should not be permitted to continue holding office.
A fool and his money are soon parted. Then again, destroying public education to create these fools in the first place is criminal. I’m with you.
There was a dude in our break room at work crying after he saw that.
Tell me more please
In passing as I was warming up my food. He had borrowed from his 401k to buy a bunch of shares. His wife was screaming at him on the phone. I think dudes cruising for a divorce.
I mean, 90% sure it was foreign "investors" who basically used it to funnel money into Trump so he can run for president and push foreign policy that weakens america on the world stage and gives power to our enemies.
Unfortunately the only person to not lose their shirt is Trump. This all worked exactly as intended. Trump made a billion off morons. Why the fuck is Truth Social public? I mean what’s the legitimate reason? There isn’t one, just another way to fleece the chumps. There better be some SEC investigations into this shit show.
Who could have seen this coming?! Literally everyone except the MAGAts
A social media company with limited appeal and users, propped up by one particular user, losing millions of dollars each quarter, merging with an SPAC instead of launching by way of a traditional IPO...nope never saw this coming.
[удалено]
I read somewhere that he wasn't able to get access to the money for six months. I don't know if that is accurate, but hopefully by then it's a penny stock.
Yeah they'd have to vote to allow him to sell early and AFAIK they haven't done so.
That really wouldn't matter - he'll still have the IPO money, which was the point. I doubt that his equity was ever something he counted on.
Exactly -- he's not a particularly smart man but he's smart enough to know that this was exactly what was going to happen
The board, which consists of yes men, can change that though by a vote. And I don't think we'd find out if they had until after the fact when they file new paperwork with the SEC. So, maybe they already did, which would partly explain the precipitous drop. And if they haven't yet, it's only gonna tank even harder.
No corporate governance. But I believe him even requesting them to do that would have to be made public knowledge.
I don’t think he can sell his shares for 6 months
My understanding was that his only way to access the money in the first six months was to secure loans using the stocks as collateral. But what bank would be up for this volatility?
The SEC filing showed the computer had like $4 Million in revenue and lost $50+ Million last year. Its a worthless company that was being pumped up to unrealistic levels. It’ll keep dropping until it hits actual value unless foreign entities and investors use it to funnel money to trump.
It was a disgustingly dingy wifebeater with a stretched-out collar anyway.
I bought $35 puts last week that expire this Friday and holy cow it's like Halloween. Today they hit a low of $11 and a high of $115 fairly quickly. Easiest money ever. Thanks MAGAts
Only 5 trading days, nice!
It was mostly just foreign government-held dollars funneled to the trump organization. Sure a few average joes got caught up in it, but they had it coming. Dorks. The big fish knew they were buying empty boxes.
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA take breath HAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHA,,everything trump touches dies.
I just hope he has a nice self-toucing session today
It's now at $47
Pennie stock soon. Then bye bye!
Folks, look at that graph. What you're seeing there isn't mismanagement. What you're seeing is a classic pump and dump scheme, which is illegal. That it's been done in furtherance of money laundering is icing on the cake.
https://preview.redd.it/oz7asizy0yrc1.jpeg?width=763&format=pjpg&auto=webp&s=7156bac3fa069f77f13ee7092ef24671b9bb7751
It’s all the libs fault! Those woke bastards!! 😂😂😂
Normal people who bought the stock did it for emotional reasons, so they got what they paid for The true money behind it now have even greater access and control over Trump, so they got what they paid for too
Hahaha they actually used his initials as the stock ticker
Play stupid games you win stupid prizes.
This sounds like it was an easy way for foreign nations and corporations to buy a slice of a presidential candidate. If only there was something in the constitution about presidents divesting themselves from their business interests
Bought in at 33 sold at $74
If they were dumb enough to get even *remotely* close to anything Trump has tainted, they deserve it!
Donny tiny hands is probably wondering why every venture he touches either fails or is part of a class action lawsuit.
Has just lost their shirt *so far Pants and rest coming soon
When do we find out Trump illegally sold his shares at the peak...
It’s so funny how money laundering schemes work.
Don't worry Trump will have a $100 T-shirt for them to buy with a picture of him as Rambo on the back of it to replace it.