On 5/2/2024 at 10:41 AM, illisdean 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. 

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....

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 May 3, 20242 yr by Jingthing

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. 

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 May 3, 20242 yr by TallGuyJohninBKK

LOL!

 

Here's the numbers from the first Quarter:

 

Revenues: $770,500

 

Profit or loss: -$327,600,000

 

With those stellar numbers, I bet Devin Nunes is in for another huge bonus.

 

Obviously it's a meme stock, or maybe also a way to 'contribute' to a campaign without directly violating FEC laws. Yes, one can make money playing it by either being lucky or not being greedy, but it does look as if the long term target for the stock price is $0. As the stock ages and more becomes available to borrow, shorts will increase and suckers will be left holding the empty bag. No doubt they will scream "RIGGED" or "UNFAIR!", but it will be their own damn fault. Their messiah will have long ago cashed out.

 

The primary shareholder took decades to find his calling in life, which is fooling those easily fooled. I think he might have looked at the IQ Bell Curve, moved far left of the mean, and said to himself "Those are my people".

 

The guy was a disaster in all of his businesses, living off of inheritance, allowance, daddy co-signed loans, and hyperbole, but only when his goober demographic was identified and isolated, did he begin to earn money on his own. First it was via his Game Show, where he pretended he was a successful businessman despite 6 bankruptcies and dozens of failed companies (but inheritance kept him afloat), and then as a "politician", where he could sell junk to his cult. His leaked tax returns indicate that he was moments away from belly-up, but was saved by Mark Burnett, who came up with the idea for the Game Show.

 

This stock is another of his "Just how dumb and gullible is my Cult" enterprises, like fantasy NFTs, Golden Sneakers, or outright begging for cash via his PACs.

 

In his first term playing President, he gave us a clue as to how incompetent he is, taking the 4.8% unemployment and growing economy he inherited and turning it into 6.8% UE and a Recession, but in his second term (if it happens), where he will lack anything even remotely approaching competence (no Steve Cohn or other of that ilk this time), he will reek economic havoc on a scale not even seen in the 1930s. I anticipate 20% UE, Stagflation, and a collapsing US dollar (but blame for anyone and everyone except himself). Perhaps fairly, it will be his cult who suffers the most, as they offer society the least and will be first to feel the decline.

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? 

7 minutes ago, RuamRudy said:

 

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? 

Some of it is 'creative accounting' as a result of the SPAC merger...you know, like grossing up hush money payoffs and recording it as a business expense.

 

One thing I failed to mention is that even the meager $770K revenue is down from $1.1 million in the previous quarter, so the hype of the merger did not exactly light the business on fire.

Trump's allies are throwing money at this stock, probably until Trump cashes out.

4 hours ago, Yellowtail said:

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.

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.

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. 😀

The stock continues to drop, while the Trump backers hold their fire, waiting for the moment to execute a short squeeze.

 

I hope @Yellowtail didn't buy too many shares last month.

5 hours ago, Danderman123 said:

The stock continues to drop, while the Trump backers hold their fire, waiting for the moment to execute a short squeeze.

 

I hope @Yellowtail didn't buy too many shares last month.

Basically, it's what's called a meme stock. No substantial monetary value. Owning or buying a share is a way of making a statement. At last report it was down to  $31.31.

https://www.google.com/search?q=djt+latest+stock+price&oq=djt&gs_lcrp=EgZjaHJvbWUqBggDEEUYOzIGCAAQRRg7MgYIARBFGDsyBggCEEUYOzIGCAMQRRg7MgYIBBBFGDsyBggFEEUYPTIGCAYQRRg8MgYIBxBFGD3SAQg0Mzg2ajBqNKgCALACAA&sourceid=chrome&ie=UTF-8

Expect more baseless complaints from the company that traders are pulling all kinds of illegal maneuvers to lower the price.

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 June 20, 20242 yr by placeholder

3 hours ago, Roo Island said:

It managed to go even lower

https://www.google.com/search?q=djt+latest+stock+price&oq=djt+&gs_lcrp=EgZjaHJvbWUqBggCEEUYOzIGCAAQRRg5MgYIARBFGDsyBggCEEUYOzIGCAMQRRg7MgYIBBBFGDsyBggFEEUYPDIGCAYQRRg8MgYIBxBFGD3SAQg0MTY4ajBqN6gCCLACAQ&sourceid=chrome&ie=UTF-8

"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.

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? 

2 hours ago, Yellowtail said:

In what differing way are the figures remarkable? 

One makes money one loses money by being a grifter

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.

11 hours ago, placeholder said:

It managed to go even lower

https://www.google.com/search?q=djt+latest+stock+price&oq=djt+&gs_lcrp=EgZjaHJvbWUqBggCEEUYOzIGCAAQRRg5MgYIARBFGDsyBggCEEUYOzIGCAMQRRg7MgYIBBBFGDsyBggFEEUYPDIGCAYQRRg8MgYIBxBFGD3SAQg0MTY4ajBqN6gCCLACAQ&sourceid=chrome&ie=UTF-8

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.

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.

Off topic post and replies have been removed, this thread is about ‘Truth Social shares go into freefall after investors learn how much money it really makes’

Trump Media Loses $16 Million in Q2

 

Trump Media's stock price continues to tumble as the company continues to show that it is incapable of turning a profit under the leadership of Donald Trump and CEO Devin Nunes.