this post was submitted on 26 Mar 2024
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Trump Media & Technology Group, the owner of struggling social media platform Truth Social, is began its long-delayed journey as a public company at Tuesday’s opening bell under the ticker symbol “DJT.”

The stock surged about 56% at the open, to $78, and trading was briefly halted for volatility. Trump Media shares have since stabilized at around $70, marking a 40% increase from Monday’s close.

Wall Street is assigning Trump Media an eye-popping valuation of around $13 billion — a price tag that experts warn is untethered to reality.

The skyrocketing share price comes despite the fact that Trump Media is burning through cash; piling up losses; and its main product, Truth Social, is losing users.

“This is a very unusual situation. The stock is pretty much divorced from fundamentals,” said Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business, who has been studying initial public offerings (IPOs) for over 40 years.

(page 2) 50 comments
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[–] Cyberflunk 17 points 8 months ago (2 children)

I'm sure he'll divest before the election, right?

[–] [email protected] 17 points 8 months ago

Considering this is a pump and dump scheme to fund his lawsuits and campaign....

[–] [email protected] 8 points 8 months ago

As much as I'd just love to suffer through another press conference with roughly 10 reams of unprinted paper on the table to represent all the stocks he'll be divesting, Trump has reduced the level of discourse and political expectations so much he'll just claim democrats are the ones pushing for him to divest, refuse, and mainstream media won't even cover it.

[–] [email protected] 12 points 8 months ago

I’m assuming they see massive market potential for running penis pill and gun ads on it?

[–] RizzRustbolt 12 points 8 months ago (1 children)

The whole situation is so fraudulent that you can't even short it.

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[–] Cosmicomical 12 points 8 months ago (1 children)

short them into the ground!

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[–] [email protected] 12 points 8 months ago (1 children)

The stock market is not about company fundamentals, which they may influence people. However at the end of day, the stock market is all about the feels.

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[–] waterSticksToMyBalls 10 points 8 months ago (4 children)

It's literally a platform to talk to the most gullible and easily manipulated group of people. You can hate everything about the platform but you have to admit magas fall for everything and are willing to pay for it. These people bought trump bucks...

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[–] [email protected] 8 points 8 months ago (2 children)
[–] [email protected] 9 points 8 months ago

A meme stock

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[–] [email protected] 8 points 8 months ago (1 children)

Never has a short selling opportunity been so good…

[–] [email protected] 16 points 8 months ago (1 children)

Short term options are currently valuing almost 400% volatility. Your gonna pay out the ass for put options or for the margin required for a short sale. I wouldn't go anywhere near this.

As they say... that's priced in.

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[–] [email protected] 7 points 8 months ago (1 children)

smh, it's going to flop like his hotels.

[–] chakan2 10 points 8 months ago

That's the plan. He just needs to cash out first.

[–] [email protected] 7 points 8 months ago (1 children)

Is he trying to get an other fraud suit?

[–] DontRedditMyLemmy 9 points 8 months ago

Doesn't matter if he can outrun the consequences. Pretty sad that an out of shape piece of shit like Don Poorleon can outpace the American justice system.

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