March 26, 2024

"Trump social media stock skyrockets in first day of trading."

NBC News reports.

ADDED: From the NYT article on the subject: "Before the merger, shares of the shell company... had long behaved as something of a proxy for investor sentiment about Mr. Trump.... By most traditional measures, Trump Media’s valuation is inordinately high. The company took in just $3.3 million in revenue during the first nine months of last year, all from advertising on Truth Social, and recorded a loss of $49 million."

So... overvaluation seems to be a theme with Trump. Here the market is doing the valuation. It's not Trump's valuation his own property and the DA's alternative valuation— the subject of the New York lawsuit.

Any hope of characterizing the buying of the stock, bidding up the price, as an illegal campaign contribution? It's handing billions of dollars to Trump.

97 comments:

Balfegor said...

I haven't looked at them in detail, but I don't understand the value proposition. What makes this more viable long term than, say Threads or Mastodon or the other pseudo-Twitters.

Paul Zrimsek said...

Luckily the stock market is in New York, so we'll be seeing it in court soon.

Darkisland said...

$6,000,000,000.00

$6x10^9

$6 billion simoleons

I'm crapping myself laughing

I can feel the ocean rising from the fascist tears

David53 said...

I think a few day traders will get rich, it doesn’t look good as a long term stock. I like Eli Lilly, bought some ten years ago, glad I did.

Dear corrupt left, go F yourselves said...

"I can feel the ocean rising from the fascist tears"

hahaha - I'm stealing that.

Tom T. said...

Remember that only the initial sale proceeds go to Trump. Subsequent sales are day traders selling to each other, trying to ride the price up before it pops. Trump's wealth goes up on paper from the subsequent training because he owns so much of the company, but he can't cash in and sell his shares without tanking the market. He may not really even be able to borrow against those shares if lenders see it as a bubble.

Enigma said...

Illegal contributions you say? Let's check in on the Democratic Party's autistic money-funnel Sam Bankman-Fried, his billion dollar DIY Excel spreadsheet, his vampire child-grandmother girlfriend, and his white socks.

No news here. Check out what the left pays for marijuana and green energy investments. Check out what the right pays for firearm firms.

CJinPA said...

This will absolutely, 100% be investigated. In large part because it helps him pay the civil ransom demanded by his political persecution.

Does ANYONE know anyone on Truth Social?

Brian said...

Any hope of characterizing the buying of the stock, bidding up the price, as an illegal campaign contribution? It's handing billions of dollars to Trump.

There's a job waiting for you at the DOJ. Apply now!

Melania Trump signals support for abortion rights: ‘No room for compromise’ said...

Cyrpus and Saudi Banks are large buyers ... I am sure its nothing to worry about.

Can someone please explain to me how a 58% stake in a company that delivered $3.4m in revenue last year is worth $5bn? (rhetorical question)

Fundamentals aren't there to support the price. In principle, nothing really different between this and crypto, meme stocks etc. All fads driven by a cult of personality.

This is the way that Trump's diehard fans make contributions to his re-election and his lifestyle. It's nothing to do with finance or stock prices and everything to do with a combination of celebrity endorsement and political obsession. This stock is worthless, except as a personification of Trump.

Aggie said...

Coming up next: NY prosecutor sues world for over-valuing Trump assets.

David53 said...

“Any hope of characterizing the buying of the stock, bidding up the price, as an illegal campaign contribution?”

Ha ha, yes. If you can think about it someone has probably already compiled the necessary paperwork.

Bill Harshaw said...

Trump doesn't fund his own campaign so based on past history not a campaign contribution. How much he nets when the dust settles or the bubble bursts remains to be seen.

Mike said...

It's a pump-and-dump, plain and simple. Trump will cash out in six months and walk away laughing while his supporters and friends who bought the stock lose their shirt. It's what he does.

Sebastian said...

Why didn't Joe and Hunter think of this? Instead of putting the squeeze on sleazy Ukrainians and Chinese?

Achilles said...

Rich said...

Cyrpus and Saudi Banks are large buyers ... I am sure its nothing to worry about.

Standard 80 IQ fascist playbook. Everyone they disagree with is a traitor.

Rich supports Joe Biden who has openly taken millions from China and Ukraine and Russia.



Robert Cook said...

"It's a pump-and-dump, plain and simple. Trump will cash out in six months and walk away laughing while his supporters and friends who bought the stock lose their shirt. It's what he does."

True that!

Bob B said...

Why didn't Joe and Hunter think of this?

You mean like selling worthless paintings to launder influence-buying money?

Interested Bystander said...

Good for Trump. Don't believe the media lies. The American people love him. FJB

Achilles said...

Mike said...

It's a pump-and-dump, plain and simple. Trump will cash out in six months and walk away laughing while his supporters and friends who bought the stock lose their shirt. It's what he does.

Another 80 IQ take. People don't even really think when they post this crap.

The value of something like Truth Social is it's customer base.

The people who are buying this stock know what they are getting into. Platforms like Truth Social and X are going to be moving into the micro payments and direct sales advertising realm soon.

IPO spike and drop is par for the course. What really matters are engagement metrics which will eventually become part of the direct marketing regimes. X has a broad customer base. Truth Social is obviously used more by Deplorables. Mastadon is a cesspool.

What we are seeing broadly is that the zeitgeist is moving more towards the populist side all over the world. You are also seeing strong horse politics. Even Beyonce thinks pandering to the America First crowd is a good idea.

Dear corrupt left, go F yourselves said...

NBC Rich - You sound butt-hurt. Perhaps you can join chuck-U-Todd in a fascist-tear party.

Dear corrupt left, go F yourselves said...

Sebastian -

Money laundering tax payer dollars thru China and Ukraine is more fun for the corrupt left.
When you're above-the-law crook Joe biden - gotta stick-it to the ordinary American citizen/tax payer first and foremost.

(While Hunter jacks up on crack and strippers... living in mansions and driving fancy cars)

MacMacConnell said...

Trump added another $1.5 Billion to his net worth in just the last hour and a half. For the hair on fire libs, Trump can't cash inch or barrow on Truth stock for six months. At this point in time 11:40 AM 3/26/2024, Trump is now one of the top 400 richest people in the world.

Also, what stock passes the "fundamentals" test? FYI, Truth isn't traded on the New York Stock Exchange. It's traded on NASDAQ.

Skeptical Voter said...

As one of the columnists in today's WSJ wrote, Biden can't out Trump Trump. One of the geniuses in the Biden Posse Hidden Cabal Hands Behind the Curtain suggested that Creepy Joe should pin a moniker on Trump "Broke Don".

We'll see how that all flies. But Trump did an IPO whilst Slow Joe only sent out Hunter as
his bagman. Advantage--Trump.

Yancey Ward said...

It's the brand alone driving this. The actual long-term profit value of the enterprise is a magnitude less than the present market value, but good luck shorting it.

It is amusing, though, that kicking Trump off of Twatter directly resulted in this windfall for Trump, should he even realize just 10% of the security's value this morning. All those brain-dead Trump haters that advocated for and celebrating his Twatter banning are partially responsible for Trump's good fortune this morning. Bet the DoJ is already planning a criminal indictment over it- there is probably an undotted i or uncrossed t in the regulatory documents somewhere that can allow the government to put him in prison.

Jess said...

Stock buyers buy what they consider will have value and yield dividends. The initial purchase value may not even be close to the value in months, or years, but considering the initial value of Trump's public company, investors are many, determined, and will do everything they can to insure their investment continues to be a good investment. If the network gives millions that feel slighted by the other platforms an outlet, the value will rival all other social media networks and probably end up more successful. The business model has already shown success and the customers of other social media sites are voicing their displeasure of how their accounts are used, or manipulated.

Darkisland said...

That's Rich

Twitter never made a penny in profit

Uber still hasn't. Nor lyft, I think

Amazon went many years before the govt told them to show a profit or get finef

Ditto Google though I don't recall any govt threat.

Why should any company make a profit unless it has to? When you make a profit, you have to pay income tax.

No profit, no taxes

Also why Musk, bezos, buffet take little or no salaries from their companies or pay dividends. No income, no income tax.

Just let it ride in the stock.

Yancey Ward said...

"I can feel the ocean rising from the fascist tears"

That's gold, Jerry!

Moondawggie said...

Rich said...: "Can someone please explain to me how a 58% stake in a company that delivered $3.4m in revenue last year is worth $5bn? (rhetorical question)
Fundamentals aren't there to support the price."

Yes, Rich, you are exactly right! That's why, Comrade, we must abandon the free market and only let experts like you set the prices for all goods and services produced in the world. Individual investors simply cannot be trusted to make wise decisions with scarce capital!

William said...

It took some doing, but the legal authorities in NY were able to keep Trump from prowling the dressing rooms at Bergdorf Goodman and raping any more women. He was no doubt casing the dressing rooms at Saks but fortunately E. Jean Carroll's quick action forestalled those plans....All this lawfare waged against Trump doesn't address the root cause of the problem. So long as Trump keeps making money, our democracy is in peril. Can't we pass some sort of retroactive tax on the sale of luxury apartments in the Trump Tower? Why should he have made so much money on those sales when so many homeless vets have to sleep under the bridge. We can tax Trump on those sales and use the money to build shelters for homeless vets. What sort of heartless person would even object to this?

MadTownGuy said...

From the post:

"Any hope of characterizing the buying of the stock, bidding up the price, as an illegal campaign contribution? It's handing billions of dollars to Trump."

Don't give them any ideas. I'm not sure they're that wily.

Dogma and Pony Show said...

IIRC, during its first several years, Amazon was completely unprofitable -- losses every year. Bad investment?

The Vault Dweller said...

My understanding was that one of the more common ways DC funneled money to people was by having people and companies buy up loads of a person's crappy book. Though I suppose that is only good for transferring perhaps several million to a person. Getting perhaps a billion or more through stock sales, seems like it takes an impossible level of coordination or really big fish making really big stock purchases.

loudogblog said...

"Any hope of characterizing the buying of the stock, bidding up the price, as an illegal campaign contribution? "

I doubt it. That would be like trying to make the case that the people who pay to use his golf courses and hotels are actually making campaign contributions to Trump.

Darkisland said...

If the Trumpster sells enough of the stock to leave $2bn after tax he can put it all in a non interest checking accounts or under the mattress.

If he takes $2mm every month for walking around money, it will eventually run out.

In 41 years.

John Henry

The Vault Dweller said...

Blogger Balfegor said...
I haven't looked at them in detail, but I don't understand the value proposition. What makes this more viable long term than, say Threads or Mastodon or the other pseudo-Twitters.


Honestly the biggest thing is that Truth Social is where Donald Trump posts. But that by itself doesn't seem like much and it is ephemeral. I too struggle to see the value in the company that the market has.

Melania Trump signals support for abortion rights: ‘No room for compromise’ said...

“It's a pump-and-dump, plain and simple.”

Interestingly, the 6 month lockup can be waived by the board prior to the acquisition, and it wouldn't be until a few days after the acquisition that they have to declare this publicly. I'd wager that everyone involved in this is directly in Trump’s pocket, they'll waive the lockup and in the first few days post-merge he dumps his entire stake on the market, pocketing the cash and running for the door.

Michael said...

Rich. Not only an expert at commercial real estate valuations (dscr anyone) but a stock savant as well. So short the stock big guy. Or sit down.

Mark said...

494,000 monthly active users last month (a large year on year decrease) ... and that's how is valued?

Meme stocks were fun, too. I doubt Trump can cash out in 6 months (his first chance) for anything like his initial valuation, nevermind the bubble. And dumping that many shares will tank the price taboot.

Lucien said...

Isn’t it delicious to think that but for the elite Woke geniuses at Twitter banning Trump, he would never have started Truth Social.

Michael said...

A reminder to our arm chair analysts bemoaning the lack of profit in this IPO. Check when Amazon made its first profit. Ditto Google.

rehajm said...

By most traditional measures, Trump Media’s valuation is inordinately high.

There they go with the objective valuation crap again...

The banks on the tombstone did their job and placed a modest IPO in an orderly fashion at an open that gives the expected and appropriate nice bump. Liquidity event for some, quick pop for others. A very vanilla operation...

...and valuation is in the eye of the beholder, yes, but unless you're were born yesterday you're not allowed to act shocked at the IPO of a company with no profits and low revenue. The market is a forward looking mechanism. TSLA and AMZN and....went years without the stuff of 'reasonable valuations'...

What makes this more viable long term than, say Threads or Mastodon or the other pseudo-Twitters A: One guy. Trump fans will join, Trump haters will have to look. Lefties seek to control all of social media, shut down X and TikTok. Now there's this thing with the guy everyone has to watch. Sounds viable to me...

...and thise of you hoping the thing tanks before Trump's lockup expires? Dollars to donuts the collar is already in place...

Readering said...

When the stock price collapses there will be securities fraud litigation, but not against Trump, who seems to have wisely not touted the stock.

rehajm said...

Lucien said...
Isn’t it delicious to think that but for the elite Woke geniuses at Twitter banning Trump, he would never have started Truth Social.


Worth a repeat. Leftie genius bites them in their own collective ass once again...

Howard said...

I love these kinds of news stories where everyone on all sides of the debate gets to claim victory. Happy happy joy joy

Darcy said...

Fascist tears, indeed. I'm no Trump fan, but I do think a new Trump term would be delicious. I would relish Trump's revenge against his enemies. Why should Biden have all the fun? We are all out in the open now, rooting for the DOJ to go after our political opponents, aren't we?

Big Mike said...

Any hope of characterizing the buying of the stock, bidding up the price, as an illegal campaign contribution?

No doubt someone will try. But this is scarcely the only tech stock that’s been bid up well beyond rationality. If you, Madam Professor, between someone making a back door campaign contribution to Donald Trump and an ordinary speculator, I’ll be glad to listen.

It's handing billions of dollars to Trump.

So what? Here I am having to explain to an alleged Con Law professor that the Constitution was written by people who had real professions as lawyers or merchants or farmers or plantation owners, and for whom the notion of professional politicians was totally foreign. Donald Trump is a businessman, and a very successful one. Some of his deals will net him a great deal of money. As an academic that may stir pangs of jealousy, but there are people who know how to use money to make money, and he’s one of them.

Readering said...

Not an IPO. More protections for the investors in an IPO.

MacMacConnell said...

Truth has value because it's the only social media platform that doesn't have a history of being in bed with the US government censorship regime. Unlike other platforms there is no sign of hiring ex CIA, FBI, NSA, DOJ, State or CDC operatives as executives.

Rusty said...

Rich said...
"“It's a pump-and-dump, plain and simple.”"
Like every other IPO.
The stake holders get a payday.
Mark hardest hit.

Michael K said...

It's nice that we have "Rich" and Mark to explain the stock market to us.

Darkisland said...

Can't compare its value to mastodon. Mastodon has none. It's open source. Download a version to your pc, register a name and you own a social network.

There are tens perhaps hundreds of thousands of mastodon networks out there. Each one independent, connected or not to other mastodon as the instance owner sees fit.

John Henry

Melania Trump signals support for abortion rights: ‘No room for compromise’ said...

“A reminder to our arm chair analysts bemoaning the lack of profit in this IPO. Check when Amazon made its first profit. Ditto Google.”

That’s rich—comparing Trump Media & Technology Group to Google and Amazon.

TMTG looks like a rightwing meme stock combined with the classic pathologies of the Spac bubble.

The only billions involved relate to the anticipated dollar losses of those buying at these eye-watering prices.

There have been only 5 million downloads of the app. Billions of users must be finding access rather difficult, with only 5 million apps in place..

Humorously, this supports Trump’s contention that his “brand” is of previously un calculated value, not sure what else there is to this business. The more interesting question is for how long can the coyote hang in the air above the precipice? Will he make it back to the cliffs edge?

Darkisland said...

Dividends are part of a stock price as someone mentioned.

But a lot of stocks don't pay dividends as a policy even though they are profitable.

Amazon is one. More famously is Warren Buffett Berkshire Hathaway.

I learned about them in the 70s from Adam Smith's book "supermoney" still in print and still a great read. As is Smith's "the money game" from the 60s

Buffet has 2reasons for no dividend

1) taxed twice at corporate and individual level

2) the recipient then needs to find somewhere to invest the money
BH will always have more and better opportunities and skill than individuals.

Need income? Don't invest in these companies but if you are looking to accumulate savings. Dividends are stupid.

John Henry

Darkisland said...

Dividends are part of a stock price as someone mentioned.

But a lot of stocks don't pay dividends as a policy even though they are profitable.

Amazon is one. More famously is Warren Buffett Berkshire Hathaway.

I learned about them in the 70s from Adam Smith's book "supermoney" still in print and still a great read. As is Smith's "the money game" from the 60s

Buffet has 2reasons for no dividend

1) taxed twice at corporate and individual level

2) the recipient then needs to find somewhere to invest the money
BH will always have more and better opportunities and skill than individuals.

Need income? Don't invest in these companies but if you are looking to accumulate savings. Dividends are stupid.

John Henry

Hassayamper said...

That would be like trying to make the case that the people who pay to use his golf courses and hotels are actually making campaign contributions to Trump.

You don't remember the "emoluments" fiasco that the left wingers tried and failed to get off the ground? The retarded communist scum were saying the Constitution basically forbids any businessman to be involved with politics, even though many of our Founding Fathers starting with Washington himself were actively engaged in commerce all through their terms in office.

Hassayamper said...

I would relish Trump's revenge against his enemies.

As would I. He should smash the Left ten times as hard as they ever dared to go after him. He'd be doing them a favor. It's the only way the communist scum will ever learn good enough manners and civility to avoid being destroyed by the rest of us.

Hassayamper said...

When the stock price collapses there will be securities fraud litigation, but not against Trump, who seems to have wisely not touted the stock.

You seriously think that will stop our Stalinist enemy occupation government from trying?

Robert Cook said...

"I can feel the ocean rising from the fascist tears"

Wait, what? The Republicans are going to cry because of Trump's (claimed) windfall here? Why for?

Rabel said...

"Isn’t it delicious to think that but for the elite Woke geniuses at Twitter banning Trump, he would never have started Truth Social."

Very tasty. But the Musk takeover of Twitter and the changes he implemented, including un-banning Trump, creates a drag on the possible financial success of TS, which Trump started up in 2021 before Musk stepped up in 2022.

However, its quite common for a business that does not make money to maintain a high stock valuation. Hell, the entire market is, IMO, highly overvalued by traditional considerations right now.

Dear corrupt left, go F yourselves said...

The Castro+Putin left want to criminalize Trump's very existence.

Jersey Fled said...

Rich said:

“Interestingly, the 6 month lockup can be waived by the board prior to the acquisition, and it wouldn't be until a few days after the acquisition that they have to declare this publicly. I'd wager that everyone involved in this is directly in Trump’s pocket, they'll waive the lockup and in the first few days post-merge he dumps his entire stake on the market, pocketing the cash and running for the door.”

And I’ll wager none of this happens absent Latitia’s bogus case and Engoron’s ridiculous ruling. So who’s the culprit here?

Hint: It ain’t Trump.

Mind your own business said...

Illegal campaign contribution? Seriously?

That kind of ugly lawfare is what fuels the populist rebellion against the federal government. Keep it up. You elitist people are going to start a civil war, and there will be NO rules of engagement.

Enlighten-NewJersey said...

Reddit, which has operated for 20 years without turning a profit and typically records annual losses exceeding $100 million, went public last week.

“On Wednesday evening, the company priced its initial public offering at $34 a share, the top of its estimated range. Shortly before the close on the first day of trading, the stock was up 46% to $49, for a market capitalization of $9.6 billion.”

Chick said...

Buyer Beware. No one is forcing me to buy Trump's stock. On the other hand, there is Obamacare.

Rusty said...

Robert Cook said...
"I can feel the ocean rising from the fascist tears"

"Wait, what? The Republicans are going to cry because of Trump's (claimed) windfall here? Why for?"

Cook you and your Democrat friends have proved your facist bona fidas over and over.

Good for Trump. But unlike you guys, the usual suspects, I'm genuinely happy when anybody succeeds in the marketplace.
Because when they do everybody who worked for them that got stock options become millionairs too. And what do millionairs do? They buy bigger homes, better cars, better boats. They go out more. They tip better. They buy more luxury goods. So the people that supply those things get a raise too. And the people that supply them etc.
Most of us already know this. Except for those like Cook and Mark who exist on envy.

Hassayamper said...

Need income? Don't invest in these companies but if you are looking to accumulate savings. Dividends are stupid.

The main thing in favor of dividends is that they are hard to finagle, at least over the medium to long term. Dishonest companies can hide a lot of mischief on a balance sheet, but they can't fake cash money rolling into their stockholders' bank accounts every quarter.

YoungHegelian said...

Before anyone gets too excited about the IPO price of of TruthSocial, I'd like to remind everyone about the IPO of Palm, Inc in 3/1/2000.

Remember the Palm Pilot? Palm was owned by 3Com that spun it off as an independent company in 2000 with an IPO. Well, by the end of the day at $95 a share, Palm's market valuation was greater than Ford Motors. By the end of the year, it had collapsed to $6.50. Here's a link with the history.

In sum, outrageous overvaluations of IPOs are nothing new and have until now had nothing to do the Bad Orange Man.

Yancey Ward said...

Somebody please get Robert Cook a mirror, but make sure to use the Althouse portal.

Leland said...

It is amusing, though, that kicking Trump off of Twatter directly resulted in this windfall for Trump, should he even realize just 10% of the security's value this morning.

To add to your amusement, you might recall kicking Trump (and many others) off Twitter caused its loss of value to the point that Elon Musk could acquire it. In the effort to deplatform the Right, the Left gave the Right two platforms. But let us play into their comic book fears: Trump is like hydra, cut off one head and two will take its place.

Rabel said...

Mind your own business said...

"Illegal campaign contribution? Seriously?"

I think you misread the intent of that comment. It's not supportive, just an idea thrown out for your consideration. It's a way to simulate conversation and is often misinterpreted.

Drago said...

LLR-democratical Rich: "That’s rich—comparing Trump Media & Technology Group to Google and Amazon.

TMTG looks like a rightwing meme stock combined with the classic pathologies of the Spac bubble."

LOL

Moron lefty auto-bot Rich has spent the last several years attacking and denigrating the technology and operational/financial performance of Tesla, SpaceX and X as part of The New Soviet Democraticals hate campaign against Elon...since the tactics being deployed against Trump will be shifted to Elon next.

So the idea that Rich's criticism of TMTG is based on anything besides raw leftist gutter politics is, as you might expect, laughable.

Its clear its going to take some time for our resident lunatic lefties to get "therapy-ed" sufficiently to overcome their latest, of so very many, Walls-Are-Closing-In moments.

Thoughts and prayers, as always.

effinayright said...

Robert Cook said...
"I can feel the ocean rising from the fascist tears"

Wait, what? The Republicans are going to cry because of Trump's (claimed) windfall here? Why for?
***********

Yeah, Cookie: the Trumpists and conservative Republicans, who want the government to leave us the fuck alone, are the fascists.

SNORT

Melania Trump signals support for abortion rights: ‘No room for compromise’ said...

"The value of something like Truth Social is it's customer base."

600k active daily users. No advertisers. Good luck.

As someone who worked on public offerings, I am very familiar with SPACs. Generally, they are a horrible investment vehicle with the vast majority doing very poorly within 12 months of going public/merging. Frankly, I don't see this one defying that trend - the financial metrics are horrible:

DWAC/DJT Revenue of ~$4mm with 9 million users (not even active users) and a ~$6 billion market cap does not make sense, especially when compared with Reddit (which went public last week -- $804 million 2023 revenue, an increase of +21%, >500 million users and a market cap of $7.5 billion at IPO) among others.

Further, I sincerely doubt institutional investors will buy shares so the demand will fall largely to Trump's followers to keep buying. At some point they will get tapped out, and when there is any selling pressure, such as Trump selling shares when his lock-up expires..... look out! The stock will plummet. I suspect that Trump's followers could be the ones holding the bag.

To the point that someone else made about this being a meme stock - near term performance will come down to (1) the size of short interest which is 11% now, and (2) the amount of selling blocks of shares. With most meme stocks there was not a lot of big blocks of stock coming out; I suspect Trump will try to monetize his position as soon as he can which means either a ton of stock on the market or he'll find a sucker to buy several hundred million dollars worth (seems unlikely).

Bruce Hayden said...

“Meme stocks were fun, too. I doubt Trump can cash out in 6 months (his first chance) for anything like his initial valuation, nevermind the bubble. And dumping that many shares will tank the price taboot.”

Why would he cash out so quickly? Warren Buffet hasn’t done so after decades. As others have pointed out, selling the stock is a taxable event, and cashing out under 6 months would result in Short Term Capital Gains, essentially taxed as regular income.

Michael said...

Rich. Short the stock and tell us how rich you get. Bet your certainty. Brag about it. After you prove you were right. But then that would never happen being a sideline boy. Not in the arena. Not at all.

Yancey Ward said...

LOL! Rich is having a meltdown. Too fucking funny!

Yancey Ward said...

Trump is Lucy, and Rich et alia are Charlie Brown.

Bruce Hayden said...

“Moron lefty auto-bot Rich has spent the last several years attacking and denigrating the technology and operational/financial performance of Tesla, SpaceX and X as part of The New Soviet Democraticals hate campaign against Elon...since the tactics being deployed against Trump will be shifted to Elon next.”

Musk has several things thatTrump does not. First, a lot more money. Instead of being towards the bottom of the Forbes 500, he is at or near the top. But maybe more importantly, he has SpaceX. He has been building and launching secret spy satellites for the USG for some time, mixed in with his EarthLink satellites. Remember a month or so ago, when the DOJ was trying to force him to hire noncitizens at SpaceX? Obviously illegal under ITAR. But maybe more importantly, the adults very likely explained to the whacked out DOJ people, the facts of nature: the USG needs SpaceX more than SpaceX needs them. And it’s quickly going to get worse, with the company on the verge of providing cut reusable rate heavy lift capabilities. It is looking ever more likely that many of their competitors won’t be able to survive that. Whatever NASA, NSA, CIA, etc are planning to do in space, they are going to need a cooperative SpaceX.

effinayright said...

Rich said...

As someone who worked on public offerings...........
**********

I suspect they were burnt offerings.

rhhardin said...

It's not only a Trump contribution, but it's tax deductible when you take the "loss."

Melania Trump signals support for abortion rights: ‘No room for compromise’ said...

"Short the stock and tell us how rich you get."

The Options market tells the story. The cost of an at the money $75 Put is $55…..that is a staggering 73% premium for a January 2025 expiry. The Call option is way cheaper which is telling you that the market is pricing in a near certainty that this stock will collapse in the months ahead which makes total sense. If Trump loses the election it will be close to zero before Christmas.

Except by buying a Put or selling a deep in the money Call both strategies are dangerous given the premium differentials. Best leave this one alone and be a gleeful spectator.

iowan2 said...

Can someone please explain to me how a 58% stake in a company that delivered $3.4m in revenue last year is worth $5bn? (rhetorical question)

Fundamentals aren't there to support the price. In principle, nothing really different between this and crypto, meme stocks etc. All fads driven by a cult of personality.



You ignorance of history is mammoth.

Go back 30 years and follow the stock of Amazon and facebook. They went years without turning a profit.
Dont ask me how, I have no idea.

But I am smart enough to pay attention to history, and know these IPO's have been happening from decades. Some companies succeed, some fail. But rising stock prices of companies that post operating losses, is not some rare event.

Rusty said...

Rich said...

"As someone who worked on public offerings..........."
Sorry. I don't belive you. Unless you were in the mail room.

Narayanan said...

is anyone parallel tracking DJT and EV stocks roller coasters?

Drago said...

LLR-democratical Rich: "As someone who worked on public offerings..........."

Rusty: "Sorry. I don't belive you. Unless you were in the mail room."

This is at least the 3rd time Rich has vaguely alluded to "worked on" or was "in the room..." when some business evolution was occurring, followed inevitably by some moronic "hot take" which has been twisted by political and democratical narrative requirements.

Rich comes off as some mid-level accountant bean-counter type with a complete inability to understand actual business strategy and/or operations.

So yeah, he probably did "sit" in a few rooms where decisions were being made...but there is zero chance he was a decision-maker.

Drago said...

LLR-democratical Rich: "Except by buying a Put or selling a deep in the money Call both strategies are dangerous given the premium differentials. Best leave this one alone and be a gleeful spectator."

LOL

Richie Rich spends days explaining why this venture will collapse and bottom out with no upside chance...then recommends leaving this alone!

Why Rich? A short, according to you, is a sure thing!

Dear corrupt left, go F yourselves said...

It's NBC Rich - folks.

NBC Rich.

Trump hate is the pill they swallow - every morning in hivemind unison.

Cato said...

Biden will indict Trump over this about a week before the election. Remember when a democrat prosecutor indicted Casper Weinberger four days before the election in 1992?

Melania Trump signals support for abortion rights: ‘No room for compromise’ said...

Trump & Dump™️

Bruce Hayden said...

“Biden will indict Trump over this about a week before the election. Remember when a democrat prosecutor indicted Casper Weinberger four days before the election in 1992?”

If it mattered, it would probably backfire on the Dems. Most of the right, and esp Trump supporters, know that all the lawsuits, and esp the criminal charges, are LawFare created election interference by the Dems, run out of the FJB WH. A lot of his opponents know it too, but pretend that the charges, the lawsuits, etc, are justified, mostly it seems. because he is such a horrid person. He gets indicted or sued again, and he replies “See, they are getting desperate!” And picks up another million votes.

wendybar said...

"Jon Stewart found to have overvalued his NYC home by 829% after labeling Trump’s civil case ‘not victimless’"

Hypocrites, hypocrites..everywhere in corrupt NYC. Hey Leticia, where is the Grand Jury Indictment???

https://nypost.com/2024/03/27/real-estate/jon-stewart-found-to-have-overvalued-his-nyc-home-by-829/

MadTownGuy said...

"Skyrockets" - reminds me of the alarmists in 2020 talking about COVID cases, along with their favorite words, "superspreader" and "existential threat."
Sometimes skyrockets misfire; other times they backfire, but most often, they soar.

ga6 said...

He made ten times the money in one day than the entire
Biden clan stole in their lifetimes...

Mark said...

"Jon Stewart found to have overvalued his NYC home by 829% after labeling Trump’s civil case ‘not victimless’"

You are comparing Trump's falsehoods on loan documents with the profit Stewart made off the sale of a NYC property he held for a long time.

There is no lie or deception in Stewart's increase in value as it was the sale of that property that yielded the supposed 'overvaluation'.

My old condo sold in 2020 for 240% of what I paid for it 15 years prior. Like Stewart, that had nothing to do with falsifying loan documents.

Next time read the actual article to see I'd the headline is misrepresenting what happened ... as it did here.

Drago said...

Dumb Lefty Mark: "You are comparing Trump's falsehoods on loan documents with the profit Stewart made off the sale of a NYC property he held for a long time."

There were no "falsehoods" on the loan documents.

This is the fundamental dumb lefty lie that sets up the entire dumb lefty house of cards lies.

And all determined by one psycho judge that made the ruling BEFORE the "trial" even began all by his little lonesome after telling the defendent he would not allow any jury, even if one was requested.

And at the very first opportunity for review of this psychotic Soviet "ruling", an all lefty democratical appeals court stopped this Soviet-like exercise dead in its tracks...while providing the fig leaf of a $175M bond in parallel to signalling the psychotic ruling will be gutted across the board.

You can always count on Dumb Lefty Mark to add to the critical mass of Dumb Lefty-isms.

Drago said...

Dumb Lefty Mark: "You are comparing Trump's falsehoods on loan documents with the profit Stewart made off the sale of a NYC property he held for a long time."

There were no "falsehoods" on the loan documents.

This is the fundamental dumb lefty lie that sets up the entire dumb lefty house of cards lies.

And all determined by one psycho judge that made the ruling BEFORE the "trial" even began all by his little lonesome after telling the defendent he would not allow any jury, even if one was requested.

And at the very first opportunity for review of this psychotic Soviet "ruling", an all lefty democratical appeals court stopped this Soviet-like exercise dead in its tracks...while providing the fig leaf of a $175M bond in parallel to signalling the psychotic ruling will be gutted across the board.

You can always count on Dumb Lefty Mark to add to the critical mass of Dumb Lefty-isms.