Originally published at: https://boingboing.net/2024/04/15/djt-stock-falls-after-filing-indicates-trump-ready-to-dump-it.html
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So if my math is right… the guy lost another $575 million or so in paper value this morning. Shucks.
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If Trump can’t post from jail, this may soon be a moot point.
@jlw from your keyboard to god’s ear.
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I almost jumped for joy.
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Pet rock, beanie baby, DJT stock. At least you can still play with the first two.
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Still would net over 2 billion on the sale though, sadly. More money than probably all of his biggest cult members fans have in assets combined. And they’re still buying shares of this, despite it, like everything else he launches, never making a profit.
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Of course, that’s only true as long as the company board (which he controls) doesn’t vote to change the rules about when he’s allowed to sell. And this is a guy that most people wouldn’t expect to pass the “take one marshmallow now, or two in 15 minutes” test that many toddlers can ace.
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Not exactly. As he begins selling off shares, he will quickly find that the market is saturated with the shares that he is selling off as the number of people looking for shares will not keep pace with the number of shares he is trying to offload. This will drag down the price at which he can offload shares more and more with each share he sells, and that’s assuming that he is able to offload all of them in a short amount of time before the share price reaches zero, which is practically inevitable with so many shares going onto the market and immediately losing value due to simple supply and demand.
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still way too high. plenty of room to fall before September.
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You could always use the certificates as toilet paper.
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Nasdaq should change the code from DJT to SAD.
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Also, let’s not forget the taxes on these stock sales will be immense.
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Taxes are less immense for tax cheats.
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Exactly correct. In order to sell something there has to be someone on the other side willing to buy. Since everyone knows the true value of this stock is somewhere in the $1-2 range (and probably lower than that), Trump’s billion dollar payday is absolutely not guaranteed.
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If some group wanted to funnel money to Trump, they could set up a synchronized sell-buy cycle, where Trump sells some, stock goes down, they buy it back up, repeat. Besides being illegal, other players might short-circuit the plan.
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boing boing will let you post from from a ISP from hell… he can post.
Wait, what are we talking about?
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I assume this is more or less what is happening now. An indirect way for his various buyers to bribe him.
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The only thing still propping the stock up may be that Trump & company are locked up until late September. There have been so many problems disclosed, in just the last week or two, about Truth Social and the Trump media group that no one can believe this is a long-term prospect.
Just remember, folks, the market can stay irrational longer than you can remain solvent.
Among other things, owning DJT right now today is a potential profit center because so many galaxy-brained folks are saying, “The price of this HAS to go down”, short-selling fees remain high. They topped out at 790%, although as of last Friday, they were down to 124%. ( Trump Gets Bad News About Future of His Own Stock ). That’s real value, and things with real value cost real money to buy, and can be sold for real money.
There are no doubt people making a profit navigating these waters. A garden-variety retail investor, though–including you and me, unless you are an accredited investor slumming–would probably be foolish still but less foolish hitting Vegas and putting it all on black.
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I think you still have it overvalued by somewhere between $0.99 and $1.99. /sarcasm
A pump and dump by a giant orange chump.
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