General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYou know, I'm not a smart man
But when I see DJT stock rise more than 125% without any profits, without any real advertisers and without any groundbreaking technology, I'm a little inclined to believe that money is being pumped into the stock by dishonest, sneaky, fucking outside players.
Same goes for the betting polls.
Peacetrain
(23,574 posts)littlemissmartypants
(24,765 posts)But why would he? What about xitter?
Joinfortmill
(16,086 posts)Tweedy
(916 posts)But you may be right.
The man certainly seems to want our constant attention. Too bad Mr. Musk chooses not to examine his own self when asking himself why his life seems so empty.
Just think if we had a fair taxation system where the wealthy actually paid the same percentage their gulfstream pilots do, none of us would have to hear every miserable detail of Elon Musks midlife crisis. The poop in the adulterous bed was quite sufficient information for me.
Oil
KPN
(16,022 posts)change. Musk is the more dangerous.
spanone
(137,391 posts)Quiet Em
(538 posts)Elon is pumping millions into this election.
634-5789
(4,248 posts)...when he was hopping around on stage like a demented cheerleader at Peepaw's Hate Rally
ProfessorGAC
(69,194 posts)When it was falling because everyone knew that there was practically zero financial basis.
Then, before it could get close to a realistic value, ut goes back up?
Pretty indicative of a rigged, out-of-control market
Hugin
(34,395 posts)The big dump is coming in a few weeks, when the High Maintenance Mussolini packs his pockets with the contents of the tip jar and shambles away with a toilet paper streamer dangling from the back of his pants.
It's of no concern to me if they prioritize buying ego rather than y'know campaigning.
LetMyPeopleVote
(153,244 posts)Last edited Mon Oct 14, 2024, 06:24 PM - Edit history (1)
I am sorry for these idiots but they were stupid to trust TFG. Meme stocks rely on the greater fool theory. I was amused to see that DWAC/Trump Media is classified as a meme stock where the value is due to personality and not due to the real value of issuer of the meme stock. This article is a good discussion of the meme nature of DWAC/TMT.
https://www.vanityfair.com/news/donald-trump-truth-social-media-merger
Truth Social is a bad imitation of Twitter, where Trump was an unavoidable presence long before he ran for president. Its chock full of stale red-pilled memes, MAGA conspiracy theories, and of course, Trump. Thats the main draw. Truth Social is the only place the former president now regularly posts his unfettered thoughts......
DWAC is best thought of as a meme stock. You may remember the meme stock fad from when retail investors on Reddit successfully coordinated a short squeeze with GameStop stock, before glomming onto a series of other millennial nostalgia brands like AMC Entertainment, BlackBerry, and Bed Bath & Beyond. Meme stocks are often publicly traded companies that attract an inordinate percentage of individual investors and their stock performance fluctuates in a way thats significantly divorced from the reality of their underlying business. Combine those two trends and youll start to see why Trumps media company could be valued at roughly $9 billion if it merges with DWAC.
Jay Ritter, a finance professor at the University of Florida, says meme stocks often depend on the greater fool theory of investing, meaning rational investors might buy in expecting the stock price to rise and betting that they can sell their shares to a greater fool willing to buy them at a higher price. In this case, however, Ritter speculates there is an inordinate number of individual retail investors compared to institutional investors, such as hedge funds, that normally own SPAC shares prior to a merger. Here youve got ideology involved [too]as far as I can tell, the vast majority of DWAC investors are Trump political investors, and theyre to some degree putting their money where their mouth is My suspicion is most of them have bought the stock as a show of political support. In this way, Trump is conducting yet another public fundraising from his supportersthis time through the public markets.
Idiots who purchase meme stocks are betting that they can get out before the other idiots figure out that the stock is worthless
Gore1FL
(21,687 posts)There are too many people trying to game it.
My advice is to avoid it. It will ultimately go down the toilet, but it is unknowable when that will be.
rubbersole
(8,221 posts)...in the tsf's world just referred to his wives.
malaise
(276,776 posts)Rec
erronis
(16,651 posts)The usual scum.
surfered
(2,332 posts)Trumps father walked in with $1 million in cash and placed a losing bet. Maybe benefactors are buying DJT stock as an under the table payment to Trump for future favors. Elon Musk showed that Trump is for sale.
Brother Buzz
(37,421 posts)MayReasonRule
(1,601 posts)Picaro
(1,758 posts)Someone that can afford it is pumping this stock.
Musk, Saudis, Russians and other assorted right wing billionaires most likely.
Business fundamentals say this stock should be worth pennies now.
Response to Picaro (Reply #17)
Chin music This message was self-deleted by its author.
Joinfortmill
(16,086 posts)kimbutgar
(22,868 posts)The insider short sellers knocked the stock down and once it got low enough they brought it back to cover their short which raised up the stock price. A bunch of regular people probably shorted the stock also and panicked and brought back the stock to cover it. Id short it again now if I still traded stocks. This is such an a typical insider trading tactic!