Trump Media Shares Down 14% After Company Says Truth Social To Launch TV Streaming (cnbc.com) 126
Trump Media & Technology Group Corp., which has been called the "mother of all meme stocks" after it made its stock market debut in late March, announced that its Truth Social platform is moving to launch a live TV streaming platform. Following the news, shares of DJT closed more than 14% lower Tuesday. They ended trading Monday down by more than 18%. CNBC reports: The stock's price has dropped by a whopping 67.7% since Trump Media began trading as a public company on March 26, erasing more than $5 billion in market capitalization. Trump Media's majority shareholder is former President Donald Trump, who holds nearly 60% of its stock.
Earlier Tuesday, Trump Media in a press release said it "has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network." The company said it will roll out streaming content in three phases, the first of which will introduce Truth Social's content delivery network for streaming live TV to the app for Android, iOS and web. Phase two will release stand-alone Truth Social streaming apps for phones, tablets and other devices, while phase three will release such apps for home television, Trump Media said. "The streaming content is expected to focus on live TV including news networks, religious channels, family-friendly content including films and documentaries; and other content that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services," Trump Media said in its release.
"We're excited to move forward with the next big phase for Truth Social," added CEO Devin Nunes in a statement. "With our streaming content, we aim to provide a permanent home for high-quality news and entertainment that face discrimination by other channels and content delivery service. There is a lot of great content that simply can't find an audience for unjust reasons, and we want to let these creators know they'll soon have a guaranteed platform where they won't be cancelled."
Earlier Tuesday, Trump Media in a press release said it "has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network." The company said it will roll out streaming content in three phases, the first of which will introduce Truth Social's content delivery network for streaming live TV to the app for Android, iOS and web. Phase two will release stand-alone Truth Social streaming apps for phones, tablets and other devices, while phase three will release such apps for home television, Trump Media said. "The streaming content is expected to focus on live TV including news networks, religious channels, family-friendly content including films and documentaries; and other content that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services," Trump Media said in its release.
"We're excited to move forward with the next big phase for Truth Social," added CEO Devin Nunes in a statement. "With our streaming content, we aim to provide a permanent home for high-quality news and entertainment that face discrimination by other channels and content delivery service. There is a lot of great content that simply can't find an audience for unjust reasons, and we want to let these creators know they'll soon have a guaranteed platform where they won't be cancelled."
Pivoting to video already? (Score:3, Insightful)
I knew it was bad, but not that bad.
Re: (Score:2, Interesting)
Re: (Score:2)
Re: (Score:2)
Re:Pivoting to video already? (Score:5, Funny)
I was thinking ShitShow(tm)
Re: (Score:2)
Well, Trump was mildly funny as a show-host. He has lost that quality now.
Cancelled? (Score:5, Funny)
"There is a lot of great content that simply can't find an audience for unjust reasons, and we want to let these creators know they'll soon have a guaranteed platform where they won't be cancelled."
"The kind of content we want to show sucks so bad that OAN won't even touch it." Fixed that for ya, Devin.
Re: (Score:2)
Using google you can find articles from 5 years ago where the average Fox News viewer was 65. Those same articles written today put the average Fox viewer at 70. Life expectancy in America is 76.
Doesn't take Einstein to do that math. Fox news might be the #1 cable news network but that's not sayin' much. And everyone else is competing for at best second place.
Re: (Score:2)
Fox news might be the #1 cable news network but that's not sayin' much.
It's not saying much because younger conservatives still certainly exist, they're just not getting their news from cable TV. The linear broadcast medium itself has become outdated.
Re: (Score:3)
The future looks dim for Fox's comoetitors:
https://www.adweek.com/tvnewse... [adweek.com]
Re: (Score:2)
The future also looks dim for my spelling. "competitors"
Re: (Score:2)
Only old people watch TV news now. It's an inefficient way of getting news, compared to reading a website.
Re: (Score:2)
"Only old people watch TV news now. It's a less sensationalist of getting news, compared to reading a website."
Fixed that for you.
But I guess I must be getting old; I never thought I'd see somebody beat out TV news for sensationalism over content.,
Re: (Score:2)
Fox News is less sensational?
Re: (Score:2)
"Fox News is less sensational?"
Than the more unhinged websites? Easily. Boggles the mind, doesn't it?
Re: (Score:2)
But it seems that the number of marks is exploding, so I guess it's ok.
Re: (Score:3, Funny)
Judging by the comments here every time there's a Disney related story, it seems like what some right-wingers actually want are "de-woked" versions of existing popular content. Perhaps Trump could negotiate licensing with the major studios to produce edited versions of current shows and movies (or perhaps they could save money by just getting copies of the versions that are already edited for China).
Seems like there's actually a market for people who want to pretend they're living under a theocracy, so Tru
Re:Cancelled? (Score:4, Funny)
I'm pretty sure the market for "The Little Mermaid: Racist edition" is too small for it to be worth the bad PR. There's a difference between censored vs original music and movies edited to be more racist and bigoted.
Re: (Score:2)
I'm pretty sure the market for "The Little Mermaid: Racist edition" is too small for it to be worth the bad PR. There's a difference between censored vs original music and movies edited to be more racist and bigoted.
Honestly? Just play the original versions to shut up the race whiners.
I have a problem with some of the remakes being either rubber-stamped copies of existing films/shows with nothing to set them apart at all aside from a few token changes, or the only changes made actually make the plot or characters less engaging. Race has nothing at all to do with it. But it's a convenient way for the producers to get away with saying there's nothing wrong with copy-paste-find-replace instead of creativity. Or even worse
Re: (Score:2)
lol it's not the literal nazis complaining about minorities in films, it's people that want the occasional diversity that are racist
Re: (Score:2)
Country is mostly white people tends to reflect that in their content.
Go to China or India, or many other countries. Tell them they have too many chinese in their videos and not enough diversity. Yeah that's what I thought, we all know what people who pull these stuns are.
Re: (Score:2)
Oh, I should clarify, it's only taking existing movies and rewriting them to do that. By all means make a new movie with whatever diversity you want just get good actors and good writers.
Re: (Score:2, Flamebait)
Snowflake.
Re:Cancelled? (Score:5, Insightful)
Modding is not for you to mod down political views that do not align with yours.
Why is it that type of signature always follows a comment as dumb as that one that you typed up there? Like, did it make sense in your head, but you just struggled to put it into words? "People who support diversity are the most racist." I just don't see how any rational thought would result in that string of words being written.
Re:Cancelled? (Score:4, Insightful)
Judging by the comments here every time there's a Disney related story, it seems like what some right-wingers actually want are "de-woked" versions of existing popular content.
Nope. People latch on to "woke" when they can't describe what makes something "bad". Hollywood has always been woke and always tackled fringe issues. The thing is, when a story is well written then people don't give a flying fuck about wokeness, but when something is bad they latch on to the only low IQ thing they can figure out "eerrmageeerrrd the mermaid has a tan!" - the low IQ critique for what was actually a really shit movie for a myriad of other reasons.
Re: (Score:3, Interesting)
To play devil's advocate though, it's not all poorly articulated criticisms. Some of these folks genuinely have concerns about putting their kids in front of entertainment that they believe is promoting a message which is in conflict with their moral and/or political standards. Offering the advice of "well then, don't let them watch it" as the only solution comes across as condescending and adversarial, and it's no wonder they've begun to see it as a culture war.
Apparently there used to be a service in Ut
Re: Cancelled? (Score:4, Insightful)
I believe those who are offended by certain programs do have the ability to rate them, and make those ratings public. That could inform what they watch, as well as their children.
They would need to come up with a proper definition for "woke" in order to exclude them.
Nothing is stopping anyone from starting a bigoted streaming service, call it Bigot+, that will utilize this rating system to exclude "woke" programming. It may even be as successful as Trump Social, some day.
For 24 years, my Dish Network satellite package included Fox News and many religious channels. I never wanted to see them. Fortunately, the guide allowed me to block them and I never had to see them in the channel list again.
I still wished I could have chosen the channels I actually watched a-la-carte, instead, and not subsidized Fox News and the religious channels for all those years. But that wasn't an option. The list of channels I cared about went down to 1, comedy central. I couldn't justify $65/month for just that 1 channel, and dropped the service.
I have survived without CC ever since. It's unwatchable online due to commercials.
I now have a rooftop antenna and SiliconDust ATSC 1.0/3.0 tuner/DVR, with a 1TB SSD.
Re: Cancelled? (Score:5, Insightful)
Our ratings system is as informative and deep as its ever been. There are websites you can use to even get specifically Christian ratings for example.
When did Republicans forget how to raise their children? Why are they so hell bent on having their kids raised by the state?
Re:Cancelled? (Score:4, Insightful)
The issue is that their political/religious standards are unreasonable and do harm to their kids and other people.
Not wanting their kids to know about anything LGBTQ related is a good example. Some of those kids will be gay, some will be trans, some will be bi, some will be asexual. And if all they are ever told is that you are what you were assigned at birth and can only be attracted to people of the opposite sex, they are going to think there is something wrong with them and suffer as a result.
And even the ones who aren't LGBTQ are not going to grow up being tolerant of others who are. Familiarity and normalization bring tolerance and acceptance.
So no, those aren't valid criticisms, they are borderline child abuse.
Re: (Score:2)
There have always been people complaining about whatever media is popular corrupting morals. At one point it was literary works of fiction! The solution has always been "stop being a pain in the ass and just don't consume materiel you personally find offensive"
Re: (Score:2)
Some of these folks genuinely have concerns about putting their kids in front of entertainment that they believe is promoting a message which is in conflict with their moral and/or political standards. Offering the advice of "well then, don't let them watch it" as the only solution comes across as condescending and adversarial, and it's no wonder they've begun to see it as a culture war.
Indeed, but to be clear the overwhelming majority of what comes across as "woke" isn't a deep seated moral issue. Sure if you are religious and don't feel like seeing the representation of trans or gay people, ... well really don't watch it. I have no problem being condescending to arsehats who in 2024 feel some moral obligation to think others need to confirm to a world view perpetuated by their imaginary skydaddy.
However that's not what most "wokism" is. Most wokeism is not something that people have a de
Re: (Score:2)
"Hollywood has always been woke and always tackled fringe issues"
The Hays Office says, "Hi!".
Re: (Score:2)
They can always air "The New Beverly Hillbillies", watch as Jed and the Clan terrorize their neighbors in Beverly Hills, Jed does the L.A. porn stars (a new one every week), Jethro flummoxes the local pols with insightful logic, Grannie goes on a shooting rampage every Fri. night, and Ellie steals the neighbor pets for her new petting zoo. There will be plenty of shots of Ellie in the cement pond in a skimpy bathing suit luring old men in for "a swim". It will be a MAGA Wet Dream.
Re:Cancelled? (Score:5, Funny)
Their first project is a reboot of Hogans Heroes - except this time there are plenty of good people on both sides.
Re: (Score:3)
'Their first project is a reboot of Hogans Heroes - except this time there are plenty of good people on both sides"
And Colonel Klink will be a black woman.
Re:Cancelled? (Score:4, Interesting)
Nah, he won't be re-elected. If he does make himself emperor then someone will shoot him.
List of presidents shot and political party:
Abraham Lincoln R
James Garfield R
William McKinley R
John F. Kennedy D
Theodore Roosevelt R
Ronald Reagan R
Not looking good for Donnie.
Re:Cancelled? (Score:4, Interesting)
A bit of off-topic ranting, but it doesn't make sense to think of these four as "republican" using today's sense of the word. All four were candidates of the party of the north, before the early-to-mid 1900's when the R's and D's switched platforms and voter-bases.
The real outlier in the parent-post's list was Reagan, as he was the the only one who's party base wasn't the deep south.
Re: (Score:2)
(I hit "Preview" a dozen times before posting that, guess I needed 13 times)
Re: (Score:3)
Re: (Score:3, Insightful)
Re: (Score:2)
Nah, he won't be re-elected
He's not planning on winning the election, he's planning on successfully contesting it, but this time with the support of state governments and the Supreme Court.
Re: (Score:3)
In general yes i do support isreal. Isreal didnt ask for Hamas to raid them rape and murder and take hostages.
Of course the IDF is focused so hard on getting the hostages back that they did that in just a month nope no siree no collateral targeting at all.
You can support isreal and not support the absolutely stupid way they are fighting Hamas.
Re: (Score:2)
Re: (Score:2)
Isreal didnt ask for Hamas to raid them rape and murder and take hostages.
... Are you sure? Fifteen years of blockade in Gaza resulting in crippling poverty, 48% unemployment, and boundless resentment. Maybe Israel didn't ask to be raided on a specific time and date, or in a specific manner, but they certainly seem to have made the request.
Don't support Israel = Nazi? (Score:4, Insightful)
It's funny how hyper sensitive to bigotry a lot of conservatives get when Israel is brought up when many of them don't give a toss about bigotry in so many other instances. Just look what they've done with the term "woke". It used to be a term about recognizing the legacies of racism in our society and how they effect is still today and conservatives turned it into a joke of a term where all it means now is whatever conservatives are upset about culturally at any given time.
It's also kind of funny in the context of things like Charlottesville a few years ago now where you had this very large gathering of far righters literally chanting in mass "Jews will not replace us" over and over again. Seems like if antisemitism really bothered conservatives they should stick to tending their own garden rather than lashing out at leftists upset at the actions of the nation of Israel (as in not all Jews). But then I don't think most of these conservatives actually care about anti-Semitism, they're just trying to silence debate.
Re: (Score:3)
Oh don't give me that, the policies and behaviors of people is what turned woke into a joke. You take a mix of delusion combined with victimization and suddenly the entire state of the world is because of white men who need to give you reparations regardless of what horrible deeds people are committing in other countries from people who aren't white. Shock surprise, we were all descendants of slaves. Recording history for slave comes from slavic, white european slaves. Anyway, delusion. Slavery is bad, humans have been bad. Humans born today aren't responsible for humans 200 years ago, or everyone is up for reparations.
All you're doing is seizing on a mostly false right wing narrative based on the extreme beliefs of a small subset within the movement. Honestly, I dont think I had even heard of the term "woke" used in any context outside of the past tense of waking up until the right seized on it as it was almost entirely used within the black community and where I live there arent very many black people. The left certainly never used the term in the context of gays or trans people, that was all a conservative invention.
It
Poetic Justice (Score:1)
Couldn't happen to a nicer guy...
Trump Trial could start as early as next Monday!
Basic Kindergarten Math (Score:5, Interesting)
2. Merge with Trump Media, a company worth $0
3. Give 70% of shares of new company to Trump and cronies
4. Remaining value of company is the cash not given away: $88 million
No one benefits when Trump is given gifts, except Trump.
Re:Basic Kindergarten Math (Score:5, Funny)
It's a Donzi Scheme.
Re: (Score:2)
It's more a Dunce Scheme.
Re: (Score:2)
Trump can't lose. He got all those shares for just lending his name to the project. Didn't have to invest any of his own money.
If it somehow does well, his shares increase in value and he profits. If it fails as it inevitably will, he cashes out early and leaves all the Trump/MAGA fans who bought $DJT hoping for a miraculous recovery.
Typical Content (Score:1)
Re: (Score:2)
I can see in now. The content for that stream being 3 or 4 of old overweight white men on a porch, with a dog at their feet, a gun leaning on the wall, drinking beer while complaining how the world is going to hell. All talking over each other due to hearing loss from the gun range.
So, basically, The View for narrow-minded males? Maybe they can do a cross-promotion?
I always think, narcissist racists need a platform (Score:4, Funny)
I've aways said we need a pro domestic terrorism channel
Re:I always think, narcissist racists need a platf (Score:5, Funny)
A channel that will never be in black and white, and also never in color.
Re: (Score:2)
I've aways said we need a pro domestic terrorism channel
Even when only static is being 'broadcast', the 'message' is still there [youtube.com], ...and broadcast static is forever.
It's all about Trump's court cases (Score:5, Interesting)
If his court cases go bad he's going to need to come up with a ton of cash and that means he's gonna wanna dump his shares. If he does that $DJT collapses in value immediately.
You can actually tie the spikes in value for $DJT to when various things in his court cases get announced, most notably when his bond got cut to $175m the stock spiked, when it came out he *still* couldn't find somebody to pay it it dropped, when he found somebody it spiked, and now it's come out that the company he found doesn't really have the cash so it's dropping.
It's all kinda crazy given that it's a company with $4m in revenue and $50m in expenses that is 100% dependent on the health of a 77 year old man. But that's meme stock for you.
This will only increase the cash-burn rate (Score:2)
Adding video streaming will only add to the company's expenses (probably significantly). It's audience is too small to generate additional video revenue that comes even close to compensating for this. The result will be even quicker bankruptcy.
'Profit through Bankruptcy' -- the Trump money-making strategy.
Re:This will only increase the cash-burn rate (Score:4, Insightful)
I don't recall whether or not those particular creditors actually came out ahead or not it's tough to say since Trump has a habit of not paying people. But Trump was correct he really did go bankrupt completely it's just that when you're rich and famous you get away with it
Brought to you by... (Score:4, Insightful)
Trump, Pump, and Dump
Re: (Score:2)
Trump, Pump, and Dump
Noting that Trump didn't actually buy his stock so no matter how low it goes he won't lose any money. Other shareholders, on the other hand ...
Small-time investors in Trump’s Truth Social reckon with stock collapse [washingtonpost.com].
Several people have a majority of their money invested in this stock and one guy has invested his whole "nest egg" -- $25,000 -- and wants to buy more. He believes the stock could "go to $1,000 a share, easy." I wish him luck.
Bump in stock price (Score:4, Interesting)
Television is already full of history/religious episodes examining 'is 2 really bigger than 1?' This will be every crackpot theory so illogical it will make Michael Moore's grand-standing documentaries look like Pulitzer-prize winners.
Why would these people share their prime-time slots and brand with Trump? Fox & Sky already beam pro-Trump worship around the world: Now Trump wants to direct his ineptitude into free publicity and pay for his own propaganda? Trump is pissing on his best friends, here.
I suspect the point is, creating a bump in stock price so that Trump Social can issue a new share portfolio.
Re:Bump in stock price (Score:5, Insightful)
> Trump is pissing on his best friends
C'mon. The man's been front-page news for over a decade now. You know he has no friends. He has people he can exploit, and people he's worried will exploit him. To Trump, loyalty means you'll make him happy and he doesn't have to do a damn thing in return. I don't think he really understands the word, it's just a sound he makes when he's demanding your unconditional support.
Re: (Score:1)
and people he's worried will exploit him.
I reckon one of his biggest worries right now is how to find a running mate that won't backstab him with the 25th Amendment at the first opportunity.
Re: (Score:3)
Pence wouldn't even turn on Trump after he set a mob on him and tried to have him killed. Republicans turn on Trump after they retire, and even then they're extraordinarily mild about it.
Trump's trump card is his cult - they're a solid block of voters big enough to sink the entire party if he tells them the party has turned on him (and thus them).
Re: (Score:3)
In New York, he was front page news for over 50 years, most of it unfavorable. But the way Trump tells it, they're all RINOs and Never-Turmpers who travelled back in time to enact a witch hunt.
In related news (Score:5, Funny)
President Biden remarked [thehill.com] in his hometown of Scranton, Pa on April 16:
I have to say, if Trump’s stock in Truth Social, his company, drops any lower, he might do better under my tax plan than his.
Inevitable. (Score:2)
Serious question (Score:2)
For the time time something like this or Reddit IPOs: Is it possible to short an IPO?
That would have been a million dollar deal.
Re: (Score:2)
For the time time something like this or Reddit IPOs: Is it possible to short an IPO?
Shorting involves borrowing shares and selling them at the current market value, then re-buying and returning the number of shares you borrowed at a later date (hopefully, at a profit). Can't really do that at the start of an IPO because the shares are still in the process of being purchased by their initial owners.
In order to short a stock, the market first has to have a high initial valuation of the stock you plan on shorting. You could've probably made good money shorting the scooter rental company Bir
Re: (Score:2)
At launch it was the most expensive stock to short on the whole market. One of the fin sites did a cost breakdown.
Not mentioned (Score:5, Informative)
Nowhere in this blurb is mentioend the reasons for the precipitous plunge in stock value. First, the company is bleeding money [cnbc.com]. It lost $58 million on revenue of $4 million. In fact, the company states in its earnings report, "TMTG expects to incur operating losses for the foreseeable future,"
Second, the con artist is trying to find a way to for he and his cronies to sell their shares before the six month lockup period ends [yahoo.com]. He wants to get his grift in now while leaving the suckers holding the bag (just as he's always done).
Third, the company is so strapped for cash it's considering offering more shares for sale [reuters.com] which will of course dilute existing shares and drive down the price.
Fourth, it's the con artist. He has never run a successful business. Every company he's ever run has either gone backrupt and out of business, or bleeds cash indefinitely. One need only look at his Scottish golf course which has never turned a profit in its over decade of existence.
Today's tick up is an anomaly. Possible short covering (though unlikely), or more probably suckers buying in now thinking it can't go any lower.
As they they (Score:2)
Get woke go broke!
You thought Fox News was bad? Just wait. (Score:4, Informative)
Here's how to make it all implode. (Score:1)
Step 1. Let people be responsible for their own actions. /someone else/ to pay for it.
Step 2. Be against slavery. Refuse to be a slave. That will make people have to pay for things they want themselves. You'll have an immediate riot. We know which side wants everything for free and
My opinion. You can have what you want, but I didn't do anything to you, and I'm not going to be your slave so you can get it. I owe you nothing.
Down 14%...after dropping 60% (Score:3)
https://www.usatoday.com/story... [usatoday.com]
I'm not sure the announcement of a TV streaming service had much to do with the stock price continuing to fall, in the same trajectory it has fallen during the entire month of April.
Re: (Score:2)
What you aren't taking into account, is that the "low for the year" at $17, was when Trump Media was nothing more than a SPAC (Special Purpose Acquisition Corp)--a shell company which did nothing and had no employees, but was created for the sole purpose of merging with an unnamed future company that wanted to go public. When it was $17 a share, Truth Social was not a part of the SPAC. When Truth Social became a public company, accomplished by merging with the SPAC (rather than the traditional method of goi
A marginally less bad idea then before? (Score:2)
The site is a money pit doomed to failure, but if you're somehow looking for a way to justify the stock price I think you need to do something like video.
Even if Truth Social became the last alt-right Twitter clone standing it would still be a crappy business because it would be a tiny user base with toxic content that mainstream advertisers avoid.
But video ads go for higher rates and no one has really broken through as the alt-right YouTube. So maybe there's a shot at decent revenue before he blows through
Re: A marginally less bad idea then before? (Score:2)
Netflix is worth $265B. Even with video, Truth's valuation is way too high. I mean we're getting close to where a potential future value of Daily Wire might be if they continue to develop, maybe.
Not anywhere close to fair valuation for a company with no revenue, large amount of debt, no source of funding for expansion, etc.
Re: (Score:2)
Look, the guy is a con artist. We all know it, some of us pretend it isn't true because we want to get away with it too.
He even conned the courts with his bond - first, conned the judge into accepting a reduced bond, second, conned the judge by having that bond backed by a company whose entire net value isn't enough to cover it.
Truth Social had two goals - give Trump an unfettered propaganda outlet while he was banned from Twitter, and con investors out of their money before it crashed and burned. It's lo
Psycho Social (Score:2)
In medicine and the social services realm, a person or patient's mental, economic, and social condition can vastly alter ability to stay healthy or get services and recover.
"Mental" is certainly apropos here.
"Truth" is nothing more than a magician's misdirect, so we can ignore it.
Better name for the company, Psycho Social.
(Not to be confused with the important "psychosocial" as we use it in first paragraph.)
MAGA! (Score:2)
A chump buys TRUMP!
Sigh (Score:2)
I know y'all like using 1984 as a manual, but you don't have to follow it so exactly [wikipedia.org].
(Although, limiting it to only two minutes would be nice.)
Re: (Score:2)
Hehe looks like someone got his feelings hurt!
Screw free speech, now laughing at a politician is Orwellian somehow.
$5 billion in market capitalization of hot air (Score:2)
Re: (Score:2)
The price went down because the stock fundamentally has low value. It went up today only because Trump fanboys are buying it. It's an artificial increase in price but the fundamental value of DJT is still low due to extremely low earnings. It is extremely unlikely that DJT will ever be a long term profitable company. Even penny stocks can be pumped up temporarily, but pumping up a stock doesn't increase the earnings.
Right now it's mostly a gamble, not as bad as an NFT, but the vast majority of "buy at any
Re:Yesterdays news. Today closed 15% higher. (Score:5, Informative)
The total revenue (not earnings, but gross revenue) for the entire year of 2023 was
To bring in that $4 million, they spent $62 million. So they lost $58 million on only $4 million in revenue.
Seriously. We're talking about some real business geniuses here.
Re: (Score:2)
Seriously. We're talking about some real business geniuses here.
To be fair we really are. Look at their share price. It does take a real true genius to prop up a bad business like that in a way that allows both management and the orange god-king himself to make money.
You're just jaded and under the (false) assumption that the point here is to be a variable business with actual long term profit. It's not. Literally nothing Trump owns or does has operated in such a capacity.
Re: (Score:2)
Re:Yesterdays news. Today closed 15% higher. (Score:5, Insightful)
I played DWAC before it merged into DJT and bought nearly 800 shares under $13.
First rule of meme stocks is always: don't gamble with what you can't afford to lose. If you have an extra $10.4k kicking around that you don't mind potentially watching go up in smoke, good on you. Not everyone has that kind of hookers & blow money in their couch cushions, and would be well advised to stick to more conservative forms of investing.
Re:Yesterdays news. Today closed 15% higher. (Score:5, Insightful)
Apparently I did very well unless you are illiterate.
That's precisely what makes your example dangerous investment advice. For every person who beat the odds, there's going to be quite a few others who didn't. It's a very short trip from /r/WallStreetBets to "Does anybody know how I can hide my car from the repo man?"
Re: (Score:2)
Apparently I did very well unless you are illiterate.
Too early to tell. You said you bought 2200 shares of DJT stock yesterday. We'll know whether you did well when we see if it goes up.
Re: (Score:2)
Apparently I did very well unless you are illiterate.
If you think that is relevant to the point you replied to then it is not the parent who is illiterate. Try again, this time with some actual reading comprehension.
Re: (Score:1)
it's not the politics, it's the criiiiiinge bro
if you don't understand why it's cringe, well, here we are
Re: (Score:2)
Sorry, there isn't a - 1 Cringe.
Re: (Score:2)
Um
Offtopic, Overrated, Troll, Flamebait, that's about it mang
Re:Yesterdays news. Today closed 15% higher. (Score:4, Interesting)
I think that you fail to understand user moderation, there are no admins moderating articles
Re: (Score:1)
Re: (Score:2)
Re: (Score:2)
The real champagne celebration is still days away, and who will be celebrating remains to be seen.
Trump receives a huge number of additional bonus shares if the stock's price stays above $17.50 for 20 trading days, and lesser amounts at $15.00 and $12.50 thresholds.
I believe were at 14 or 15 trading days so far, though which day officially counts as the start isn't clear (at least to me).