Jump to content

Truth Social shares go into freefall after investors learn how much money it really makes


Social Media

Recommended Posts

On 5/2/2024 at 1:25 PM, Eric Loh said:


Must have hit a raw nerve. I get it; all for Trump’s grift and who cares about the small investors buying a scam share with no positive fundamentals. 

Biden certain doesn't he wants to tax unrealized capital gains....

  • Thumbs Up 1
Link to comment
Share on other sites

Posted (edited)
1 hour ago, Yellowtail said:

Biden certain doesn't he wants to tax unrealized capital gains....

I don't know all the details of his proposals but I'm pretty clear any proposed changes are only for those making over 400K annually. 

Also any change needs to pass the in congress as well. 

Edited by Jingthing
  • Haha 1
Link to comment
Share on other sites

2 hours ago, Yellowtail said:

Biden certain doesn't he wants to tax unrealized capital gains....

Yes he does. New tax laws will be written for unrealized capital gain which has been a grey area for much too long. Unrealized capital gain will not be allowed to be use for collateral. Someone wouldn’t be happy with that. 

  • Agree 1
Link to comment
Share on other sites

Posted (edited)

More bad news for Trumpers:

DJT Stock Falls. SEC Charges Trump Media Auditing Firm With ‘Massive Fraud.’

Trump Media & Technology Group shares were falling Friday after the Securities and Exchange Commission charged the company’s auditing firm with “massive fraud.”

 

The regulator has charged BF Borgers CPA and its owner Benjamin Borgers “with deliberate and systemic failures to comply with Public Company Accounting Oversight Board standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023,” according to a filing.

 

To settle the chargers, BF Borgers and Benjamin Borgers have agreed to pay civil penalties of $12 million and $2 million, respectively. Both also have agreed to permanent suspensions from appearing and practicing before the SEC as accountants, effective immediately.

...

Trump Media stock was tumbling 5.2% to $46.15.

 

https://www.msn.com/en-us/money/companies/djt-stock-falls-sec-charges-trump-media-auditing-firm-with-massive-fraud/ar-AA1o5xV8

 

Is anyone surprised?

 

 

Edited by TallGuyJohninBKK
  • Haha 1
Link to comment
Share on other sites

3 minutes ago, Walker88 said:

Here's the numbers from the first Quarter:

 

Revenues: $770,500

 

Profit or loss: -$327,600,000

 

With an admittedly shaky understanding of corporate finance, would I be right in saying that the company's costs were around $400 million for the first quarter? Is that even feasible for running a website with a few thousand users? How can any site possibly cost over $4 million per day to run? 

Link to comment
Share on other sites

  • 2 weeks later...
4 hours ago, Yellowtail said:

DJT005.png.36bf8c436a0ed3605c32922cc0396d13.png

This stock will be de-listed after Trump cashes out.

 

The good news is that every dollar that Trump's backer use to prop up this dog is a dollar that Trump can't spend on his campaign.

  • Agree 1
Link to comment
Share on other sites

  • 2 weeks later...

Another plummet in share price for Truth Social. Low volume trading days seem to produce drops.

 

What will probably happen is Trump backers will try to organize a short squeeze, which is characterized by higher than average trading volume.

 

This stock is going to the pink sheets, the question is when. Anyone who holds this dog too long will suffer.

Link to comment
Share on other sites

57 minutes ago, Danderman123 said:

Another plummet in share price for Truth Social. Low volume trading days seem to produce drops.

 

What will probably happen is Trump backers will try to organize a short squeeze, which is characterized by higher than average trading volume.

 

This stock is going to the pink sheets, the question is when. Anyone who holds this dog too long will suffer.

It seems there is a lot of speculation going on to harvest money from Trump's fans. 😀

  • Agree 1
Link to comment
Share on other sites

And there's this which probably goes a long way to explain the current decline. In fact, this piece of news could prove terminal:

"Trump joined TikTok in June, amassing millions of followers. A political action committee supporting Trump’s candidacy – the Make America Great Again Inc. – opened a TikTok account in May. 

“If TMTG disagrees with President Donald J. Trump about the scope of his obligation to use, or first post on, Truth Social, TMTG lacks any meaningful remedy with respect to such disagreement – which could have a material adverse effect on the business and/or operations of TMTG,” the company said in an amended registration statement."

https://www.usatoday.com/story/money/2024/06/18/djt-trump-media-stock-price-falling/74141641007/

In other words, Trump has no problem in screwing over all his supporters who have bought stock. And it clearly demonstrates his lack of faith in the company. Which lack, by the way, is entirely rational.

Edited by placeholder
  • Thumbs Up 2
Link to comment
Share on other sites

"The company’s sole product, Truth Social, debuted in early 2022 and has drawn comparatively few users away from existing social media giants such as X or Facebook. Trump Media last month reported a first-quarter net loss of nearly $328 million on revenues of about $771,000."

https://www.cnbc.com/2024/06/20/djt-trump-media-stock-price-today.html

 

"In 2021, in fact, a typical stand-alone Chick-fil-A outside of the mall generated more than $8.1 million in revenues."

https://www.restaurantbusinessonline.com/financing/average-unit-volumes-stand-alone-chick-fil-are-insane

 

So, per quarter, the average stand-alone Chick-fil-A generates about 3 times as much revenue as does Truth Social. In their own differing ways, both these figures are truly remarkable.

  • Haha 1
Link to comment
Share on other sites

27 minutes ago, placeholder said:

"The company’s sole product, Truth Social, debuted in early 2022 and has drawn comparatively few users away from existing social media giants such as X or Facebook. Trump Media last month reported a first-quarter net loss of nearly $328 million on revenues of about $771,000."

https://www.cnbc.com/2024/06/20/djt-trump-media-stock-price-today.html

 

"In 2021, in fact, a typical stand-alone Chick-fil-A outside of the mall generated more than $8.1 million in revenues."

https://www.restaurantbusinessonline.com/financing/average-unit-volumes-stand-alone-chick-fil-are-insane

 

So, per quarter, the average stand-alone Chick-fil-A generates about 3 times as much revenue as does Truth Social. In their own differing ways, both these figures are truly remarkable.

In what differing way are the figures remarkable? 

Link to comment
Share on other sites

Couple of trolling comments removed. Try sticking to the rules.

 

Rule 10. You will not post troll messages. Trolling is the act of purposefully antagonizing forum members by posting controversial, inflammatory, irrelevant or off-topic messages with the primary intent of provoking other members into an emotional response or to generally disrupt normal on-topic discussion.

Link to comment
Share on other sites

11 hours ago, placeholder said:

The bad news is that this turd still has a ways down to go.  Trump and some insiders may still make out on this stock, but the retail pissants are going to get creamed.  Hint:  Don't be a retail pissant.

  • Like 2
Link to comment
Share on other sites

14 minutes ago, Berkshire said:

The bad news is that this turd still has a ways down to go.  Trump and some insiders may still make out on this stock, but the retail pissants are going to get creamed.  Hint:  Don't be a retail pissant.

Oh, but the New Messiah will love me and take care of me forever if I buy his stock.

Link to comment
Share on other sites

  • 1 month later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.









×
×
  • Create New...
""