Originally published at: https://boingboing.net/2024/04/10/trump-media-stock-plummets-a-joyous-financial-disaster.html
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I’m very happy he’s not likely to make much money off of any of this, but is he really losing anything either? It’s not like he actually paid for those shares.
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At $33.58 per share it only needs to drop another $33.58 to bring it to its correct value.
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Right. He has a company that was losing millions. He sold shares that ought to have been worthless, so even if he gets 5 cents a share the still gets better than nothing. The trouble is, they’re worthless even to him, because the only way he can realize the value is to sell them, and if he starts selling his own stock then who’s going to want it for even 5 cents?
The only way I see this working out for him is if some Saudi prince buys up tons of DJT stock in order to bribe him. The GOP nominee is literally for sale.
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Finish it!
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I’ve had the same concern. But the good news, I guess, is that even Saudi money is not infinite. They just had to significantly scale back that idiotic “Neom” project due to financial concerns.
But I guess it really wouldn’t take all that huge of a bribe to get into Trump’s good graces.
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Has Madame Toussad’s ever seen Donald Trump?
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He is probably counting on that money to pay off debts, fines, stave off bankruptcy And, sure, he could grift for more, but the stock collapse eats into the willingness of potential griftees.
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It needs to keep dropping and get below $16 and stay there for a while to prevent Donnie from getting a bonus in a few weeks,
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That always header throws me for a second because it reminds me of Douglas Henshall.
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I am. I only wish that the press had any sense of self-awareness or memory. Just last week they were all crowing about how the truth IPO was going to make him a trillionaire, settle all of his debts including the NY bond and make him look like a bidness genius. I saw almost nobody in the media pointing out that this was just another fraud and predicting it would collapse as inevitably as trump steaks, casinos, vodka, university and “charity” money laundries.
https://www.wsj.com/finance/trump-makes-a-new-fortune-with-public-listing-of-truth-social-93790821
I would be ashamed to show my face in the newsroom if I wrote any of that tripe. Except WSJ, I guess. They’re probably brainstorming right now how to spin this as a major win for the business genius.
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We can form a mutual support group and get through it with wild partying, modest gloating, laughter and drinking.
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Trump is now Dollar General.
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It was probably created by an LLM, which can’t feel shame.
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Literally the plan all along
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his griftees will never stop forking over their money.
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Thanks for bringing that up Killjoy.
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Nope. Trump and his minions are the embodiment of bad karma and negative emotions. I’m more than happy to see them suffer. If anybody deserves it, it’s them.
One thing to keep in mind that even at its current price (which is now lower than its debut price), it’s still ridiculously overvalued.
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Apparently even they have limits, though. The volume of trades is also plummeting, suggesting that interest is waning. And waning. And waning.
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