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leisesprecher ,

Not “unfortunately”, but rather “exactly as intended”.

This entire business is essentially a money laundering scheme.

bassomitron ,

Yeah, it’s insane the SEC hasn’t already launched an investigation into such an obvious pump and dump scheme.

fine_sandy_bottom ,

I’m morbidly interested to see what happens.

Everyone knows that firstly it’s grossly overvalued, secondly trump wants to sell, and thirdly whether or not Trump wins in November the shares will be worthless.

Hobbes_Dent ,

…and thirdly whether or not Trump wins in November the shares will be worthless.

Either it’s a soon a social network based on a former candidate or it’s one that I imagine a president has to distance himself from.

Either way I can see why people don’t want to invest, even the evil greedy unethical ones.

mosiacmango ,

it’s one that I imagine a president has to distance himself from.

There is no chance that this happens. He will gladly keep posting insane screeds as president with zero negative effects to his support.

nondescripthandle ,

Musk got away with tons of pump and dumps, SEC seems toothless unless the poor people start investing in things that threaten hedge funds profits.

Gork ,

Nothing shows a healthy system more than blatant, rampant regulatory capture.

protist ,

Correct me if I’m wrong, but I believe they’re already under investigation for breaking the law when the original SPAC openly said they were going to merge with Truth Social when the law says SPACs have to remain agnostic about what companies they may merge with until they do so

HootinNHollerin ,

Well they’re taking way too fucking long.

orclev ,

They’ve got to wait long enough for Trump to finish dumping all his stock. Sure he may face a court case about it down the line, but that’s nothing new, he’ll have already laundered the money by that point and stashed it away somewhere.

swab148 ,
@swab148@lemm.ee avatar

Gotta check if he’s got a banana stand out there

bassomitron ,

It’s one banana, how much it could cost? $10?

Substance_P ,

“We are going to have a crash, and we’re going to have a crash like a 1929" I guess in some sense he was right.

HubertManne ,

well he did say he would bring grocery prices way down which is only possible if we have a massive, massive recession.

solsangraal ,

quick, someone send them some bailout trump bucks

frunch ,

I’m buying as much TrumpCoin™ as my bank will allow me to transfer right now

solsangraal ,

everything king mierdas touches turns to caca. if you’re still getting fleeced by this wannabe con man, then i have less than zero sympathy

tunetardis ,

king mierdas

I’ve heard a lot of nicknames for that man, but that one fits so perfectly, even going all the way back to his casino empire days.

d00phy ,

King Mierdas is so awesome!

SlippiHUD ,
@SlippiHUD@lemmy.world avatar

This was never more than a ploy to launder foreign money, it does feel pretty brazen for the CEO and COO to cash out before Trump.

It seems to me, all the bag holders should have grounds to sue them, I’m sure atleast a few of them will.

HubertManne ,

Usually the deals are supposed to have strick limits on selling for founders, high muckity mucks, and such at the time it goes public. This is why gates, musk, and a variety of others don't just sell off. Well that and they own such a large amount it would tank it which is part of the reason for the limitations in contracts and such.

nova_ad_vitum , (edited )

It seems to me, all the bag holders should have grounds to sue them, I’m sure atleast a few of them will.

Sure but they’ll have to balance that probably legitimate cause if action with the fact that they’ll likely get death threats from cult members for filing the suit.

realcaseyrollins ,

I’m still kicking myself for not buying this stock when it first came out. It would have been one of the easiest stocks to time properly. Now it’s useless.

Aphelion ,

Short it on the day Trump’s lockout ends.

realcaseyrollins ,

I’d short it now but that’s a relatively high-risk play. You can lose a lot of money shorting and I don’t have that type of money to lose.

affiliate ,

i wonder what this will mean for the upcoming Truth streaming service

FlyingSquid OP ,
@FlyingSquid@lemmy.world avatar

“What upcoming streaming service? We never said anything about a streaming service.”

Rayspekt ,

“But if we did it would’ve been uuuuuge.”

stevedidwhat_infosec ,

Another failed Trump support product lol

FlyingSquid OP ,
@FlyingSquid@lemmy.world avatar

Maybe he can use Truth Social to sell some steaks before it shuts down.

d00phy ,

NEW NFTZ BOUT TA DROP BAYBEEEZZZ!

Nougat ,

"You working at the Bread Bank?"

I'm volunteering till I sell these NFTs.

whyalone ,

Another successful business from the genius that knows everything about businesses, military, nuclear and how to raise a family.

MentallyExhausted ,

If he learns about wind, he could start a university.

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