Lots of cult members and day traders and suckers getting clipped.
Not the end of volatility or drops.
https://www.marketwatch.com/articles/trump-media-stock-djt-election-df76e00e?mod=mw_quote_news
The stock, which trades under the ticker DJT, has whipsawed over the past few weeks, rising higher than $50 from as low as $20 a month ago. The shares were down 4.1% at $32.92 before being halted at 2:55 p.m. for the second time. The stock had gained 14% Tuesday after gaining 12% on Monday.
DJT could be a proxy for Trump’s odds of winning the election, or a vehicle for traders to make money on a volatile security. Either way, interest in the operator of Truth Social, which Trump launched as an alternative to X, the site formerly known as Twitter, is as high as ever with the outcome of the vote still on a knife edge.
It isn’t clear what will become of Trump Media if the former president loses the election. Its revenue—it made less than $1 million in sales in the second quarter, the most recent period it reported—is tiny for a company with a $7 billion market capitalization. It’s possible that it could grow into a competitor to Elon Musk’s X, or to Meta Platform’s Threads app, or Reddit. But it would take a lot of work.
Work, yeah. Would have to pay somebody. There are almost no R&D expenses and almost no marketing expenses going on.
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