Violins are traditional instruments of cinematic mourning, either as background melody or very famously used literally in Titanic where the orchestra kept playing right up until the ship went down (historically accurate).
Spongebob Squarepants later had a one-off gag where Mr. Krabs wanted to express insincere mourning, so he pulled out a finger-size violin and said something to the effect of “Oh boo hoo. Let me play you a sad song on the world’s tiniest violin”
Of course, being Spongebob Squarepants, the gag was executed so flawlessly that it was immediately seamlessly integrated into internet culture.
John Rekenthaler, vice president of research at Morningstar (MORN+0.470%), previously called DJT an “affinity stock” — one that trades on people’s feelings and perceptions of the former president, rather than its business performance. Rekenthaler warned that Trump Media stock would “go to zero or something close to it” if Trump were to lose the presidential election in November.
These new lows come just weeks before Trump will get the green light to offload his 114.75 million shares of Trump Media, or about 60% of the company’s outstanding stock. The Republican presidential hopeful stands to make upwards of $2 billion from the stock sale — although the value of those returns depends on the share price.
I think that it’s going to go to “zero or something close to it” once Trump starts bailing out. I don’t think that it’s going to need to reach the election and have Trump lose.
If he has to divulge his divestment it’s going to go to 0 before he can sell it all. If he doesn’t need to divulge it, it’s still going to go close to zero because the market for that stock won’t hold if 60% of it hits the market. If he’s been able to borrow against it, he’ll probably default and leave his lenders holding the bag.
People are treating the “dump” part of a “Pump and Dump” like it’s some kind of a vindication, when suckers were already fully fleeced back at its $7B market cap peak.
It’s a Mastodon instance with a few thousand users trading at $16/share. Absolutely insane that anyone was buying this garbage at any price.
It matters because Trump becomes free to sell his shares on September 19 (a week from today). I, for one, am hoping that the price goes to $0 and it gets delisted by then!
Putting aside any feeling you may have for or against Trump, WTF does TMTG do? From what I can tell, it runs Truth Social and is planning to launch a streaming service.
I did some quick googling and Truth Social appears to be a mastodon instance with a non-default backend that is free to use with 600k active monthly users.
Facebook alone (not including other META products) has 2.9 billion active monthly users.
What’s so valuable about it? Sure, they are probably running ads. But why would someone advertise on Truth Social over Facebook? Is the conversion rate somehow better on truth social?