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Trump’s Truth Social is now a public company. Experts warn its multibillion-dollar valuation defies logic | CNN Business

Trump Media & Technology Group, the owner of struggling social media platform Truth Social, is began its long-delayed journey as a public company at Tuesday’s opening bell under the ticker symbol “DJT.”

The stock surged about 56% at the open, to $78, and trading was briefly halted for volatility. Trump Media shares have since stabilized at around $70, marking a 40% increase from Monday’s close.

Wall Street is assigning Trump Media an eye-popping valuation of around $13 billion — a price tag that experts warn is untethered to reality.

The skyrocketing share price comes despite the fact that Trump Media is burning through cash; piling up losses; and its main product, Truth Social, is losing users.

“This is a very unusual situation. The stock is pretty much divorced from fundamentals,” said Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business, who has been studying initial public offerings (IPOs) for over 40 years.

RizzRustbolt ,

The whole situation is so fraudulent that you can’t even short it.

groats_survivor ,

Puts seem overpriced

waterSticksToMyBalls ,

It’s literally a platform to talk to the most gullible and easily manipulated group of people. You can hate everything about the platform but you have to admit magas fall for everything and are willing to pay for it. These people bought trump bucks…

ILikeBoobies ,

These people bought trump bucks…

This isn’t a good representation of them

They bought them AND tried to use them as legal tender

anarchy79 ,
@anarchy79@lemmy.world avatar

Worked for bitcoin. Maybe it’s not a question of utility, but of branding.

anarchy79 ,
@anarchy79@lemmy.world avatar

Ooh, I’m gonna go see how long it takes to be banned.

Ugh it’s so calculated too… Just as Reddit went full retard, the Dumpf stands there welcoming the exodus to his Glorious One Regime As A Service.

What happened to Reddit after the Digg! migration was that Reddit turned into shit. And now reddit passes the concentrated shit onto the next gaping mouth who also happens to be President (because let’s not kid ourselves, that’s how we all know it will play out- we are not fighting the Republicans, we are fighting the Russians and the Republicans). When will the centipede stop feasting on our feces?

HerrBeter ,

Twitter and reddit were public information sources, I see a pattern

exanime ,

Let the laundry begin!

anarchy79 ,
@anarchy79@lemmy.world avatar

WELCOME TO FINANCE! There are no rules, and if we break them, we remake them!

This is a case where I literally both hate the player and the game.

UnderpantsWeevil ,
@UnderpantsWeevil@lemmy.world avatar

I just have to say, the folks at Reddit must be eating their own hearts out right now.

If only they hadn’t shut down The_Donald, this could have been them.

anarchy79 ,
@anarchy79@lemmy.world avatar

They will always have GME.

guacupado ,

Money laundering. Just like buying those bibles.

anarchy79 ,
@anarchy79@lemmy.world avatar

You know… In my life I’ve had to talk a few people out of scams.

I know they were scammed, it’s blatantly a scam, the evidence is overwhelming, my experience is solid, everyone I know of’s experience says the same.

Yet they will argue with you back and forth and never really be satisfied because they want to believe it so much, and I imagine it stings a good bit being told you’re being ripped the fuck off and you’re too stupid or inexperienced to understand that.

I’m never confrontational about it, I just make it very perfectly clear that proceeding would be extremely ill advised, and that even their own worries brought them to me asking for my opinion because they trust my judgment.

It scares me how long it takes to convince them, and how often in the end they come to me a month later and I ask them how it went, and they went and bought it anyway, for whatever far fetched rationalization they managed to construct for themselves.

Psychology is real, psychology is simple, all it takes to control humans is to have no care for anything but yourself.

UnderpantsWeevil ,
@UnderpantsWeevil@lemmy.world avatar

“Yes, I know it’s scammy, but I’m getting in on the ground floor so I’m not the one who will be holding the bag” is a sentiment I’ve seen (and occasionally held) entirely too often.

anarchy79 ,
@anarchy79@lemmy.world avatar

NGL I’ve been there myself more than once. That is how I know. Winners never quit, quitters never win, but if you never quit and never win, you’re a moron.

UnderpantsWeevil ,
@UnderpantsWeevil@lemmy.world avatar

Winners never quit

Knowing when to cut your losses is kinda important if you want to win long term.

rbesfe ,

This is literally just a loophole to allow foreign governments to give Trump boatloads of cash. Instead of giving him explicit gifts, you prop up the price of his worthless company’s shares

anarchy79 ,
@anarchy79@lemmy.world avatar

But which governments, though? Which one, there are so many… I can’t think of a single one that would be motivated to influence US politics and do something so blatantly anti-democratic.

Schadrach ,

Trump can’t cash out shares for 6 months. So now they have to keep the price inflated for 6 months.

Could be some folks find value in social media for a group preselected for gullibility.

UnderpantsWeevil ,
@UnderpantsWeevil@lemmy.world avatar

Trump can’t cash out shares for 6 months. So now they have to keep the price inflated for 6 months.

Unless they’re just unloading their shares onto Rubes. In which case, they only need other people to buy-and-hold at the inflated rate.

anarchy79 ,
@anarchy79@lemmy.world avatar

This is not aimed at you or anyone particular just my thoughts, but it’s amazing how uneducated people are when it comes to finance. I know I am, and every day I learn a little more of how gullible I’ve been. I did live on the streets selling drugs though, and once you see how that game is played, you see how every fucking game is played. You do this and he does that and they do this and that for you and we all come out on top, right? Throw a couple of million dollar lawyers, accountants, legal experts, think tanks, connections to the monetary and industrial elite of the world, and stack the SEC with 92% former and future employees of yours, and suddenly the game makes sense without any need to get the academics.

It’s not about the math, it’s about who you know.

If anyone is skeptical then remember exactly what Clump was convicted of and what his punishment was.

Now he’s crowdfunding that punishment away, and people think that somehow it’s impossible that it’s a scam because of financial regulations? Bruhs…

orcrist ,

Except he can sell sooner, if certain steps are taken. Or so it has been widely reported.

tacosanonymous ,

I’m assuming they see massive market potential for running penis pill and gun ads on it?

shani66 , (edited )

Being untethered to reality is literally in the core of stock trading. It’s nonsense, modern day magick for the least cool people.

MIDItheKID ,

Coincidentally, being untethered to reality is the core mindset of the Truth Social user base.

anarchy79 ,
@anarchy79@lemmy.world avatar

It’s Texas Hold’em with extra steps.

They are degenerate gamblers.

Gambling, in my personal opinion, is one of the absolutely most tragic and devastating dependencies there are, and I would include meth abuse among them. At least meth heads tend to live past 40 or so. You get gambling debts and you will be fitted with lead boots in the harbor. I lost my best friend to it, and I’ve seen others on the same path. Drugs are nothing compared to what gambling does to the brain. It’s basically the same, only imagine a drug that you must take a new dose of every 0.82 seconds. Forever.

sheogorath ,

The shitty thing is, compared to drug addiction if you ODed usually you’re the only one who got injured. But with gambling debt, even if you’re already sleeping with the fishes, sometimes they still go after your family or business partners. That’s what basically happened to my friend, his business partner drowned in debt, stole money from their business ventures and ran away, he’s the one who must pay the debt because the dude promised he’ll pay back after their business is up and running.

anarchy79 , (edited )
@anarchy79@lemmy.world avatar

You hit the nail on the head.

Druggies may steal from you, but gamblers ruin the lives of everyone around them.

Funny you should say that by the way, and horrifyingly sad, but two Russians drove my friend to his mother’s home in the middle of the night, shoved her in the car with her son, then was told to pay $10K (which was pure interest at that time) for her son’s life. She did. A couple of weeks later he was dead, drowned about a hundred yards away his childhood home.

There was never ever ever ever any reasoning with him. The sheer number of girls he hustled, and by god the money they “gave” him, they were all permanently psychologically damaged after their encounters. Actually a very insane story. He was an amazing guy, literally everybody loved him. He walked into a room, a bar, a subway car… He dominated it instantly, like the lone hero out of some Western movie.

Sorry, I wax sentimental.

RIP Joni.

E: he actually came to me in those weeks leading up to his death and asked me, “if it was a matter of life and death, would you borrow me $10K?”, and I answered, “No, because you’d be back next week asking for the same thing, and one day I’d say no and then you’d die anyway”. We were always sarcastic and fuck you towards one another but like brothers you know. I didn’t understand it at the time, but he was literally asking me to save his life. In hindsight, I don’t know how to feel about it, because I was 100% right, yet, what kind of human wouldn’t do anything to save their friend’s life?

Fuck this woke some feels, sorry for ranting.

UnderpantsWeevil ,
@UnderpantsWeevil@lemmy.world avatar

literally in the core of stock trading

Value Investors might argue otherwise. I’ve got more than a few shares in stock with a sub-20 P/E ratio. They do exist and you can make money holding them.

They just don’t have the rocket ship like growth of your Magnificent Seven or your even more speculative stocks.

Ultragigagigantic ,
@Ultragigagigantic@lemmy.world avatar

Trump is the best thing to ever happen for the 1%. People are more divided then ever, and the media doesn’t have to report on anything but him.

MonkeMischief ,

anything but him.

Woah now, sometimes they switch it up!

Did you see what Taylor Swift was looking at recently? Her eyeballs glanced at something for like 5 seconds! What does it mean? The internet is just absolutely going crazy over the fact that insiders claim she farts sometimes too!

/s

anarchy79 ,
@anarchy79@lemmy.world avatar

I remember something about a war in Europe, but then out of the blue came a super weak Hamas attack on Israel, and now I don’t know who’s warring whom anymore. Taylor Swift though, she’s got above average looks and talent, so something is good in my world at least.

ShaggySnacks ,

The stock market is not about company fundamentals, which they may influence people. However at the end of day, the stock market is all about the feels.

anarchy79 , (edited )
@anarchy79@lemmy.world avatar

This is so damn true it hurts.

Bearish on FEELS.

hglman ,

The stock market is untether from reality to being with.

anarchy79 ,
@anarchy79@lemmy.world avatar

Philosophy Gone Wild

Olhonestjim , (edited )

Could Trump’s Truth Social stock value be powered by massive fraud? Experts say things like “slammed,” “mystified,” and “dazzled!” This and more for the next 24 hour news cycle until he does another damn fool thing that we can exploit.

anarchy79 ,
@anarchy79@lemmy.world avatar

The sheer level of cynicism is unhinged.

finickydesert ,
@finickydesert@lemmy.ml avatar

smh, it’s going to flop like his hotels.

chakan2 ,
@chakan2@lemmy.world avatar

That’s the plan. He just needs to cash out first.

Debs ,

Trump is now a stock.

kent_eh ,

A meme stock

MonkeMischief ,

He’s already been NFTs. Has there been a “DrumpfKoin” yet? Only a matter of time.

ikidd ,
@ikidd@lemmy.world avatar

Follow the money. I guarantee this is Russian financing being done at a remove.

aidan ,

Russian financing how? They can’t access banks, I doubt they’re wasting precious foreign currency on this.

rob_t_firefly ,
@rob_t_firefly@lemmy.world avatar

Just because they’re not allowed to access banks doesn’t mean they can’t.

Lots of people, organizations, and even governments do all sorts of crimes even though they’re really not supposed to. Conceptually speaking, money laundering is a fairly simple crime to do and, like so many crimes, it becomes easier to get away with the more powerful you are.

aidan ,

Every dollar you launder still has a risk of being caught, like I said, they have more pressing things to spend foreign currency on.

Kaefor ,

More pressing than possibly owning the next American president? No, they don’t.

aidan ,

His bond was reduced, he doesn’t need the money that desperately that they’d own him

Kaefor ,

Since there isn’t enough info out there for either of us to be wholly right, I will have to agree to disagree.

Cheers mate.

aidan ,

True fair enough

guacupado ,

What? Their money has literally impeded us continuing to give aid to Ukraine. Their investments are paying insane dividends.

aidan ,

Their money has literally impeded us continuing to give aid to Ukraine.

Is there solid evidence of that?

anarchy79 ,
@anarchy79@lemmy.world avatar

deleted_by_moderator

    •
    aidan ,

    Thanks for sharing the info

    HeyThisIsntTheYMCA ,
    @HeyThisIsntTheYMCA@lemmy.world avatar

    If you’re creative and determined you can reframe a lot of basic interactions as crimes.

    anarchy79 ,
    @anarchy79@lemmy.world avatar

    And if you’re gullible it’s easy to reframe them as part of the “nothing is happening in the world and geopolitics are not a thing” conspiracy theory.

    HeyThisIsntTheYMCA ,
    @HeyThisIsntTheYMCA@lemmy.world avatar

    Ah shit I forgot what thread I was on and was just “the cops will lock you up for pissing sideways” rambling.

    anarchy79 ,
    @anarchy79@lemmy.world avatar

    Yeah, us communists are all the same, just repetitive propagandistic slogans and dumb soundbites led by an uncharismatic moron telling us what to do.

    Go build a wall, or bridge or whatever.

    Edit: Wait, wait, you weren’t being sarcastic? If so my bad.

    Omgpwnies ,

    They can still trade in rubles with other countries that are willing to trade with them. It’s not inconceivable that they can ‘launder’ a trade via, say India:

    1. Russia buys a few billion-ruble toothbrushes from India
    2. India invests the equivalent in USD with $DJT (minus a cut)
    3. India uses those rubles to trade at market value for goods with other countries that also trade in rubles

    Replace India and Saudi Arabia with any 2 countries on this list: tbsnews.net/…/bangladesh-among-over-30-countries-…

    aidan ,

    Cluing in many people into conspiracies like that would require makes them much harder to keep secret

    anarchy79 ,
    @anarchy79@lemmy.world avatar

    I doubt they’re wasting precious foreign currency on this.

    Their EXISTENCE hinges on winning the US election right now.

    It’s literally ALL they are “wasting precious currency” on.

    aidan ,

    Their EXISTENCE hinges on winning the US election right now.

    What does this mean?

    aseriesoftubes ,

    Don’t forget about the Saudis.

    Aolley ,

    The CCP is also very interested in all this

    finickydesert ,
    @finickydesert@lemmy.ml avatar

    pedos are as well

    davepleasebehave ,

    not sure they are quite so well organised

    girlfreddy OP ,
    @girlfreddy@lemmy.ca avatar

    I dunno. Epstein et al. seemed fairly well organized.

    davepleasebehave ,

    organised enough to run a pump and dump on stock?

    MonkeMischief ,

    I wish this were the case.

    It’s crazy scary how coordinated that community gets to get their fix, which is why one takedown often leads to more.

    anarchy79 ,
    @anarchy79@lemmy.world avatar

    It’s crazy how far any community goes to get “its” fix.

    Neurologically speaking, our brains’ reward-punishment module is too damn directly exploitable.

    anarchy79 ,
    @anarchy79@lemmy.world avatar

    I have some bad news for your peace of mind…

    anarchy79 ,
    @anarchy79@lemmy.world avatar

    Very weird take.

    UnderpantsWeevil ,
    @UnderpantsWeevil@lemmy.world avatar

    It’s standard Beijing policy not to intercede when Americans are shooting themselves in the feet

    anarchy79 ,
    @anarchy79@lemmy.world avatar

    The Saudis, the Israelis, and the Chinesis all have old “trade” agreements with the US.

    One other country has joined the club, only they snuck in the back door to burn the whole thing down.

    None of the others’ intent is to overthrow US democracy, because they depend on it for not living like Tuskan Raiders in a post-apocalyptic wasteland.

    anarchy79 ,
    @anarchy79@lemmy.world avatar

    I am shocked hearing people say that out loud even. Isn’t that extremely, painfully, provably obvious to everyone? No. It is not. It is a matter of “both sides” debate, apparently.

    “Hi, I sell snake oil. It cures cancer!”
    “Oooh, I LOVE not having cancer! I’ll buy 1. No, wait, 1000!”

    UnderpantsWeevil ,
    @UnderpantsWeevil@lemmy.world avatar

    guarantee this is Russian financing

    Fair more likely it’s Saudi or Israeli money, given how Russians have been cut off from the SWIFT banking system through sanctions.

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