Donald Trump: Classic or Dud?

ramble tamble dissemble

z_tbd, his stock becomes worth $3.5bn only as part of a deal that forbids him from selling the stock for 6 months.

I don't understand how Truth Social is worth anything, it loses money hand over fist, has very few actual users, and will be completely dead whenever Trump kicks the bucket

it's a convenient vehicle to transfer bribes to someone with a 50% chance of being the next president

The value of Truth Social is based entirely on a fairy tale and the name of that fairy tale is... The Emperor's New Clothes.

THE TRAIN IS COMING.

https://www.cnn.com/videos/politics/2024/03/23/fulton-county-da-fani-willis-exclusive-intv-nr-vpx.cnn

best possible quote.

it's a convenient vehicle to transfer bribes to someone with a 50% chance of being the next president

― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 26 March 2024 5:26 AM (seven minutes ago) bookmarkflaglink

This

The 6 month lockup is just on market trades. There’s nothing that stops the SPAC vehicle from buying shares in any quantity from existing shareholders as part of the merger. Rest assured, money will flow to trump as soon as the deal closes.

This is a massive brown envelope, partly financed by rubes who’ve bought in. The fact that the price has run up to $40 (from 10) suggests that the people who set up the SPAC to fund trump have got a lot of their money back. It’s an amazing grift.

xp thanks caek!

For those ilxors who continually bewail that Trump has never yet suffered any consequences

ah! well, nevertheless

Trump claimed that he had ample cash to secure the bond but that he would prefer to use the money toward his campaign. A reporter pointed out that Trump hadn’t put his own money into his campaign since 2016, and asked if he would start again.
“It’s none of your business, frankly,” Trump snapped.

The reporter then shrugged, glanced into his billfold, and asked the former president if he needed to borrow a few bucks

fuck this piece of shit

strongly considering shorting DJT

I did that last election and came up just slightly ahead factoring in when I did that the election prior.
The crazy thing was I put in those bets AFTER he lost.

just to be clear, I'm talking about the Digital World Acquisition Corp stock

Ooof... well there's that saying markets can be irrational longer than you can stay solvent but it still might be worth a spite-wager, no?

it's up about 45% today, I don't see how that's sustainable, but I'm no market genius either

I did the math. If sustained, 45% increases per day would consume the entire energy output of the sun by January 1, 2045. Verdict: unsustainable.

I've seen enough, I'm shorting the sun instead.

it's a safe bet that over the long run the sun will burn out

Many people are saying...

stare at it and see if it does

Surely not long to go now before Trump defends Putin on ignoring US warning and implicating Ukraine

hey, again - i'm sympathetic to the idea that truth social is actually worthless and that the 3.5 billion valuation (that i've seen attached to it in various headlines/articles over the last few months) is way too high and is being propped up by professional liars. sounds like tesla, which is definitely a worthless house of cards which will fall apart at any second once everyone sees that.

but in the meantime, in the world that is both real and more fake, which is to say, the world we live in

https://www.washingtonpost.com/technology/2024/03/25/truth-social-trump-media-stock-market-billions/
Trump Media soars in first day of public trading

The newly merged Trump Media & Technology Group, which owns the social network Truth Social, saw its share price climb roughly 35 percent in its first morning on the Nasdaq exchange under its new ticker symbol, DJT — Trump’s initials.

The company took over the stock held by Digital World Acquisition, its merger partner, which saw its share price soar on Monday more than 30 percent. Shareholders on Friday approved the merger, which was first announced in 2021.

Trump owns 60 percent of Trump Media, or roughly 78 million shares, a stake now worth more than $5 billion.

The company’s valuation, however, stands at odds with its business performance. Trump Media earned about $3.4 million in revenue and lost $49 million in the first nine months of 2023, a Securities and Exchange Commission filing shows.

By noon, the Trump company’s shares were trading for about $67 — around the same price as the discussion-board platform Reddit, which went public last week, has tens of millions more active users than Truth Social and generated more than $800 million in revenue last year.

The trading frenzy has helped make the company one of the largest parts of Trump’s net worth, according to Bloomberg, which said Monday was “the single-greatest day on record for the former president’s wealth” and had elevated him for the first time onto its list of the 500 richest people.

Trump, however, can’t sell his shares or use them as collateral for six months due to a common business-deal provision, known as a lockup, designed to give investors confidence that major shareholders won’t quickly cash out once a deal closes.

...

also, regarding that 6 month waiting period until he can cash out:

The merger agreement says Trump could waive his six-month lockup provision with approval from Trump Media’s board, whose directors now include Nunes, Trump’s son Donald Trump Jr., and several high-profile Trump allies, including Robert E. Lighthizer, Linda McMahon and Kash Patel, an SEC filing shows.

But allowing Trump to cash out early could flood the market and erode the company’s share price, financial experts told The Washington Post.

Meanwhile, all I can conclude at this point is that Trump likes being gagged: https://www.nbcnews.com/politics/donald-trump/judge-hush-money-case-hits-trump-partial-gag-order-rcna145170

Which, I mean, no kink-shaming here.

sadly my account didn't have access to shares to sell, it was up near $75 when I was looking at it, now below $67

xp

the world we live in

yup. stock manipulation has a proud history stretching back to the first stock markets in London and Paris and it's one of the more lucrative of the dark arts. this is one for the record books.

God Bless The USA Bible

"Make America PRAY again' barf

Organizers of the 'Make America Pray, Or Else' movement cite the Second Amendment as a great assistance to their efforts.

a bible with a bill of rights appendix, the pledge of allegiance... can't get more christian nationalist than that

the bible shit is just noise to defray talk about his legal position. effective tactic for this guy over the years. clown a little, they focus on the clown shoes

All Americans need a bible in their home and I have many … to sell.

In re that gag order I find this bit mentioned by the NYT even more telling:

In an unrelated order Tuesday, Justice Merchan issued a stern warning to Mr. Trump’s lawyers as well. He reminded them to behave professionally, or risk being held in contempt.

“This court emphasizes that it hopes for and fully expects zealous advocacy from counsel as well as spirited contribution from witnesses and parties alike,” Justice Merchan wrote. “Nonetheless, the court expects that the line between zealous advocacy and willful disregard of its orders will not be crossed.”

This is not how you want to be addressed before the case has even begun.

where's the consequences?

/qualmsley

they're hidden in 21 cardboard file boxes stacked in a secret cupboard at Mar A Lago

There's not a Cross nor a picture of Jesus on the page, but plenty of photos of Trump. Who do you think this $60 bible is for?

It sure isn't for Jesus. https://t.co/9Q9v8Gk2qf

— Gregory Minchak (@gminchak) March 26, 2024

“This is not how you want to be addressed before the case has even begun.”

Yuuuup

This is the court saying “fuck around and find out”

i'm sympathetic to the idea that truth social is actually worthless and that the 3.5 billion valuation (that i've seen attached to it in various headlines/articles over the last few months) is way too high and is being propped up by professional liars.

Supposedly most of the market was people who were buying DJT in order to short it. But I'm afraid of some sort of The Producers scenario, in which between the would-be short sellers and the true believers who HODL on to stiggit to the libz, somehow leads to TS having enough market value for Trump to realize substantial gains.

(Disclaimer: I have not seen any version of The Producers.)

Not even the 1931 version?

more motions to dismiss based on constitutional grounds happening now in Fulton County and streaming live

good morning, where's the consequences?

guess we need to see if the actual trial ever happens

Even after he’s dead and buried, the “good morning!/where’s the ____?” one/two punch combo should stick around here

Where's the wooden stake?

I do my best to compartmentalize and go about life, but I feel like this asshole has been eroding my soul for years now.

Same

x3