• @[email protected]
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    562 months ago

    Still grossly overvalued.

    Remember, this motherfucker bankrupted THREE casinos!

    There is no limit to how badly he can fuck up a business.

    • @[email protected]
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      2 months ago

      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.

      • @[email protected]
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        242 months ago

        Absolutely insane that anyone was buying this garbage at any price.

        That bribery money wasn’t going to launder itself.

      • @[email protected]
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        112 months ago

        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!

        • @[email protected]
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          92 months ago

          He’s been able to borrow against them for some time. Someone is already holding the bag.

        • @[email protected]
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          22 months ago

          If he floods the market with shares, I wouldn’t be surprised if the price craters so hard it gets delisted.

      • @radiohead37
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        42 months ago

        Brainwashed uninformed people trying to show off to their friends how they are the biggest trump supporters ever.

  • @[email protected]
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    302 months ago

    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?

      • @[email protected]
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        12 months ago

        From stock sales? Are they buying directly from the company? If not, I don’t think the company sees the money

        • @[email protected]
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          12 months ago

          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.

        • socsa
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          12 months ago

          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.

    • @[email protected]
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      152 months ago

      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.

    • @[email protected]
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      132 months ago

      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.

    • @[email protected]
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      132 months ago

      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.

      • @[email protected]
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        52 months ago

        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.

        • @[email protected]
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          22 months ago

          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

    • @[email protected]
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      112 months ago

      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.

    • socsa
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      12 months ago

      600k active accounts. Maybe half of them are real Americans.

    • barnaclebutt
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      52 months ago

      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.

    • @radiohead37
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      82 months ago

      Agreed. He doesn’t care about the shareholders. He will just dump and leave the suckers holding the bag.

      I just wish the blackout period extended beyond the election. If he lost, his stake could be just a fraction of what it is today.

    • @[email protected]
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      52 months ago

      If he has to divulge his divestment it’s going to go to 0 before he can sell it all. If he doesn’t need to divulge it, it’s still going to go close to zero because the market for that stock won’t hold if 60% of it hits the market. If he’s been able to borrow against it, he’ll probably default and leave his lenders holding the bag.

  • enkers
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    102 months ago

    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.