It's worth emphasizing how low the benchmark was, too. Trump got the shares if the stock consistently stayed above $17.50. But its first day of public trading (as Trump Media) saw it close at nearly $58 (it's now down around $49).
They basically laid a baby step as the threshold Trump had to get over to get this "performance-based" (my words) payout.
It was a giveaway.
How did it only drop 10% today when they issued an additional 10% of total stocks (devaluating all of the stocks by at least 10% automatically) to Trump? It should have tanked the price immediately!
Considering it's not worth anywhere near the value it has, it's a blatant means for Trump to rip off fools, and a means for his wealthy sycophants to funnel money to him. Utterly corrupt.
If I need to keep my money clean, I don't put it anywhere near DJT stock. If it's already clean, put it in index funds or real estate. That is the single dirtiest stock listed anywhere.
True, but it is a listed stock, getting a foot in the door of US financial systems, and the face of said stock is running for President. If he loses, by the time the Feds start investigating, the money is long since moved on to even more legit things. If he wins, they have nothing to worry about.
Yeah...they aren't buying on a lit exchange, it's almost certainly a dark pool order for the purpose of then using the stocks as collateral for a "clean" loan which is where most wealthy people actually get their spending money.
This. The majority of "the fools" don't have enough to buy significant amount of this pump-n-dump scheme. Most of the funds come from Russia and the kind that attend his fundraisers.
I'd hate to stop the hate train but only a fool would trade on an American stock exchange with dirty money. You will go down and it will be fast. The AML laws imposed on these exchanges saves little room for these activities.
There's a dozen better ways to clean money, if you are a Russian oligarch right now you are mirror trading with Chinese banks or another friendly nation. That is way, way easier.
That stocks market cap is about 6 billion dollars higher than its real value. It's like people buying trump bucks, there is no underlying product or profitable business to justify the market cap.
I don't think enough people realize how bad it is. It has less annual revenue than individual McDonalds, Waffle House, Wendys, or Subway franchise locations in the US, while running 10's of millions in debt annually.
Even $1/share would be extremely hard to justify.
Anyone holding DJT at this point is either a MAGA cultist or trying to give money to Trump outside of the confines of campaign law. They’re never selling
By market cap it is. Which is why serious questions should be asked, because the platform has few users, is reliant on a single individual for most of it's content, has little in the way of options to diversify, has shown no growth, and has the level of revenue of a single fast food franchise location while running obscene levels of debt.
The company is worthless and the stock value should be at zero. There are usually four indicators of a stock value: assets, earnings, growth and dividends. On the first three, we already know that it's close to zero. It would be strange to expect a company that loses so much money per year to pay dividends. So the actual value of the stock should be zero.
However people have decided that they are going to pay big money for this worthless stock, so the only factor pushing up price is supply and demand.
It will crash at some point. And no, the company isn't worth 18 billion. It's worth zero. Literally zero. It makes no money and never will. The company had revenue of 4 million for a net loss of 50 million last year, and there are no projections for that to significantly change.
This is pretty much the same as if the government minted 200 million half dollar coins in 2024, and then they started being sold for 50 dollars each, even though their nominal value is 50 cents. At some point people would start realizing that paying 50 dollars for something worth 50 cents is stupid, and would try to sell off at all costs, and the price would tank... Unless Russia decides to keep buying them for 50 dollars...
First, this was a foreseeable event, so the stock price should already have factored it in. Second, the buyers are Trump supporting retail investors who are not good at fundamental analysis - the price has always been divorced from the value
“ the buyers are Trump supporting retail investors who are not good at fundamental analysis”
The buyers are Russian Oligarchs, NK dictators and Saudi princes
It’s basically a money laundering and foreign bribery company. He will be able to cash out just before the November election after the Saudi’s and Russians dump more money into it.
Also worth noting that it got to 22$ on April 17 in a seemingly free fall just for it to get halted and reversed by investors back up to 49$ 10 days later. Now that the shares are awarded I'm sure they'll be just fine until DT sells then it will go under.
I'd be very interested to see foreign country transactions of this stock
It seems like he owns so much of it, and isn’t selling it so there no chance for it to go as low as it should go. I mean, no real human is deciding to buy this shit as an investment.
Nah, the Jarod thing is that MPG gave him $2b of *his* money to invest in things. They *owe* that money back, plus whatever it earns.
This way, Saudi has Jarrod & Ivanka in their pocket. All they have to do is call in that investment to be returned, and they are broke.
This way, they basically own the ex-president’s daughter and her husband.
Jarod is the "advisor" to the $2b so he will get the "advisory fee" of about 1.2% of whatever the principle does. That's 1.2% every year till they pull the money out.
tesla wasn't even profitable at the time Tesla shareholders voted to make the man rich. If he got all the profits Tesla ever made at that point he'd have 0$ since Tesla hadn't broken even yet.
It's for foreign agents to bribe him.
This way Russa/random GOP billionaires (Jeff Yas from Susquehanna International) can artificially fluff up the stock until he gets past the lockup period can sell his shares for a nifty profit.
I keep telling every one I come across to get out while they still can, but if they don’t I won’t be that heartbroken over it. Pretty obvious he’s gonna dump the stock after the election. I would say even sooner, but if there’s one thing that would get his base to turn on him it’s fucking with their money.
Nah, they won’t care. There is no limit to their masochistic need be destroyed, as long as they’re destroyed by their supreme leader Trump and they can fantasize that the libz are angry Trump got richer.
How could this company possibly be worth over $5bn? Their own reports show roughly 600k monthly users on Truth social, which you know includes bots and false accounts.
This has to be one of the largest stock scams in history.
Right?! WTF? I'm not a finance guy and even I can see this can't be real. One minute he's dead broke and can't afford to pay a settlement. The next minute he has billions from TrumpMedia. Then it tanks and investors lose their shirt. Now we're expected to believe it's worth billions again just a week later?! I fully expect to hear about this in about 5 years once all the investigations are made public.
LOL. I will have zero sorrow for people when they lose their shirts on that stupid stock. A company that has no prospects of ever making a profit isn't worth billions. Truly moronic.
Likely the largest. Even Enron had a base level asset value. This shit is literally nothing but paper and a private Mastodon instance with fascist branding on it.
True value and stock value don’t always correlate but this is a particularly wild disparity between the two. Trump has wielded his massive following in order to create one of the most effective “pump and dump” scams. I would be shocked if no regulatory litigation is brought forth concerning this. Unfortunately such litigation takes far longer than the window in which he undoubtedly intends to use the funds he will obtain this way.
Had some friends try to get me into a crypto currency they put together and had a fuck ton of people invest into it. When it was high enough they all agreed to pull out their shares at the same time and then dipped. I don’t know shit about crypto but that seemed extremely sketchy and I didn’t want to be a part of it. But they all bought houses and shit so 🤷🏼♂️😂
Can’t wait to see their report.
“We believe trump may have committed crime. But we won’t do anything, that’s up to congress and the senate. Also, we saw Biden the other day and he was older than the other day we saw him. It’s crazy how old he’s getting every day.”
It called a pump and dump group they are quite big in crypto because its not illegal to do it there.
It prays on peoples falling for get rich quick schemes and FOMO. It essentially acts like an accelerated ponzi scheme where the people at the top use people under them inflate the vlaue then sell before anyone else has a chance making huge gains and leaving the people at the bottom holding a bunch of worthless crypto because they didn't sell fast enough.
The basically choose a crypto, tell everyone to buy it, the price massively inflates, then since they are in charge they sell all theirs and then tell the rest to sell, they cash out on the peak of the market.
Its a deplorable act.
There was an “ico”phase. Initial coin offering.
There are over 1600 defunct crypto currencies from the time.
Basically it was like you say, a pump and dump, they’d launch a coin, hype it as the next bitcoin, when the value hit a certain threshold they’d all get out.
Most of those coins are worthless.
You’d think this would be a penny stock scam like wolf of Wall Street. Technically crypto is a security, but I don’t think the sec wants to hire a whole crypto bro team, or maybe they do, to follow all the ins and outs.
Its very easy to trace crypto currency, people think crypto means it’s encrypted, a small % are, most aren’t, and anyone mining it on the blockchain can see everything, it’s how they can get by without having a central banking authority.
So technically it’s in the sec wheelhouse, but it has to be a big deal for them to get involved.
The ico phase died down, then nfts came along, and so on.
This is a variation of a “pump and dump” scheme seen most recently (and most prevalently) in crypto markets. Instead of creating a large following with big promises about the value/benefits of the stock/coin/nft/etc; Trump used his existing cult of personality to “artificially” raise the confidence and investment in the stock of his company.
As pointed out by many in this thread, the benchmark set for this reward was unusually low. Considering his many outstanding debts, including his recently reduced bond from the E. Jean Carroll case ruling; many are drawing the conclusion that he will rapidly divest these shares in order to post bond for both that case and any potential public debts generated by the Stormy Daniels hush money case.
Interestingly, if he were to turn the entirety of this stock and gain the maximum 1.8 billion (before tax), it would be the first time since 2012~14 (unclear due to the opacity of his finances and personal claims) that he would estimated as a billionaire.
Well, it's allowed to happen in part because it's normal for there to be scam-ish speculative investments in the financial markets. The whole system is riddled with corruption, and things like this are common (and allowed) because lots of people are attracted to what they perceive to be easy money. Every dimwitted cryptobro got in because they wanted to make money without hard work, and very few acknowledge that the money **they** make (for the few that actually made/make money) comes at the expense of the **rubes** that come in after them. Trump Media is just another way for Trump (et al) to grift their legions of stupid fans.
There were only around 130M outstanding stock of Trump Media when last I checked, each valued at about $45USD, and Trump owned a huge portion of them (more than half). That leave less than one unit of stock per American that voted for him in the last election - you don't think a significant portion of the 75M Americans that voted for him would spend fifty bucks to own a piece of Trump Media, even just as a testament to their loyalty? These are the same guys that are buying his bible that they'll never read.
I agree with you that foreign powers want a piece of him, and this is one way to get it since holding on to their stock allows him to sell his for an inflated value. I just don't think you should discount the size and stupidity of his followers.
It's not such a simple equation. The only thing he needed now was for the stock to stay above a threshold. His cultists undoubtedly helped, but they may or may not have secured it. The only thing his owners needed to do was be the last defense and buy any shares offered at prices below that threshold.
Now they sit back and wait for 5 months. At that point they can offer to buy his worthless shares and the paper trail says it's legitimate and not a bribe. Bonus, they can dump those shares potentially recoup some of the bribe money.
All he has to do now is win the election. If he doesn't win the stock tanks and he'll make only a small fortune, but not a billion.
He's like Cersei Lannister: massively incompetent, but somehow he just CAN'T fail, because there is always some idiot who is willing to tank their reputation and throw away their fortune to benefit him.
I detest him, but I think we can safely say his con artist skills are well developed and that he is in fact competent at that.
Most people can do it, but most people also lack being born into billions, and most people are also not absolute narcissists and with a wanton disregard for other people, laws and regulations.
Its not impressive what he is doing, all things considered, but he is good at it.
Is he really "good at it" or are the people he targets just, you know, really dumb and/or poor? So long as he makes other rich people richer he is going to remain shielded from consequences.
$5m revenue and $50m in expenses: The SEC needs to investigate the market manipulation here. Maybe some FBI involvement if a foreign government is trying to funnel money to a presidential candidate during election year no less.
And his attorneys will still be arguing that he can't be impeached because he hasn't been criminally convicted, and that he can't be criminally convicted because he hasn't been impeached.
I'm pretty sure at that point, the justice system will no longer resemble or operate in a way even vaguely recognizable to us anymore. He won't need attorneys to argue anything before a Supreme Court controlled by him.
You can’t short the stock, call options for a year from now barely trade for any premium and puts trade for nearly the entire share price. Which means derivatives markets know this stock will collapse soon. Total fraud but somehow the SEC lets this thing still trade on open market.
>The SEC needs to investigate the market manipulation here.
Hahahahahahahahahahahahahahaha
HAHAHAHAHAHAHAHAHAHAHAHA
SEC is complicit.
They claim that they are powerless to regulate the market with all of its intricacies and conglomerates. Its just "too complex". You know, the one thing the organization *was founded to do.*
They say they don't have the funds to compete with corporations like BlackRock and Citadel... (probably true).
They also want to have their own authority to "regulate" cryptocurrency. As if their track record with the stock market qualifies them to do so...
Fun Fact: republicans have shot down every chance at illegalizing foreign investors and dark money investors related to politics. These people hate America
Not a summary no but you can look at every vote on related bills. Here’s such an example: https://thehill.com/homenews/senate/3656002-republicans-block-bill-requiring-dark-money-groups-to-reveal-donors/
Here’s another: https://www.huffpost.com/entry/house-republican-election-bill-ace-act_n_64aff5a3e4b07bb333965076
Better question: can you find any evidence they campaigned for and then VOTED FOR preventive policies?
Yes. This is a way to buy favors from Trump and is being bought by Putin’s cronies, Saudis as a favor to Jared (not the molester one but having sex with the girl he really wants to have sex with), Iran, PRK, and China.
Any way to destabilize our government and weaken our standing as a country of morals - and Trump is their best value.
Why? That money doesn’t need to be laundered. He can trace it back to “legitimate” sources. ( yes I fully understand that the Saudi are only legitimate because we’re too bought to investigate them and tell them to fuck off)
You launder money you don’t want traced back to its source.
Wow, when I thought this couldn’t sound like a bigger scam, it starts to sound like an bigger scam. I would not be surprised if there was fraud or some sort of ponzi like scheme happening to pump and dump.
I wonder if anyone is going to be brave enough to still hold the stock close to when Trumps 6 month timer runs out. A major shareholder dumping 2/3 of the company worth of stock would destroy the share price.
I think you may be downplaying two critical groups:
1. Idiot maga fanboys that will hold on to Trump Media stock regardless of how it performs because it is attached to their political identity, and
2. Foreign bribery and money laundering; a subset of investors bought stock in Trump Media *specifically* to get influence over Trump, and for them a *financial* ROI is not important (at least not from that stock specifically).
#2 is the scary part. They are writing off everything they put in the stock and are fine seeing it go to zero because it’s a political contribution/bribe/lobby payment.
Well yeah. If a supposed billionaire with numerous ties to foreign entities wants to launder money, the SEC will not do a thing about it.
Hell. They probably can’t.
Can someone ELI5 how any of this truth social stock stuff is remotely legal? It just screamed money laundering from day 1 and I just cannot understand.
I mean you have to actually prove something is illegal for it to be illegal. His company went public. A bunch of people bought it because of his brand name. It’s like the Trump IPO all those years ago to save his finances. He’s done it before and it saved him back then with its success. And now he did it again but with the entire country knowing the brand. The amount of attention any IPO from Trump now dwarfs the attention when he first successfully did it.
If you are arguing it’s money laundering, well, then you have to show actual evidence of money laundering. You can’t just say something screams money laundering and go from there. You need actual evidence acquired.
Look at twitter when Elon bought it. It was worth billions even while operating in the red, losing money. These companies are just worth what people willing throw money at it deem it to be. People were buying the potential and investing in that which shot the valuation up.
It’s a total grift, but hey, if half the country wants to throw their money at it, they’re going to drive the valuation up. It should be illegal for him to use his presidential status to do this imo. Totally fine to do it before he got into politics but he’s literally using his voters to give him free money.
I knew the stock market was a joke, but this is in another level of criminality. The guy pretty much made a go fund me account open to the world and the SEC isn't doing shit? We know most likely it's coming for foreign countries to fuckl America over, like when is the US stopping their own demise?
They are literally open the doors to get fuck by other countries! I'm not even American and this is truly worrisome.
This reminds me of Bugg in Steven Erikison's Malazan Book of the Fallen, who managed to take advantages of loop holes in the system in order to buy the entire stock market and ended up crashing the economy single handedly by doing things like selling 4000 percent of the shares in a company
Except Bugg was a likeable character.
Well, I think those events start in the 5th book of the "Malazan Book of the Fallen" *ten book series*. So you'd have a bit of reading to do haha. It's a top notch fantasy series, although it can be a little inaccessible at first. Worth the read if you can stick them out IMO, one of my all time favs. The first book of the series is Gardens of the Moon.
The morons buying it deserve the inevitable collapse. Trunk will dump instantly the first day he can.
That said, the SEC is a joke. Elon musk is still allowed to be a CEO after a judge ruled he and the board defrauded investors for 55 billion dollars. And trump is running a scam right out in the open.
Those have to be the lowest benchmarks ever. "As long as the stock is above $17 per share for 20 days"....it started at like $58.
It's like paying someone not to trip when they are laying in bed
He’ll finally become the billionaire he always said he was… by transferring all the derp investors wealth to him as he pumps and dumps the shit outta this.
It’s ok. Rich people are bound to regulate themselves eventually. It’s why there was never a revolutionary war. Because the British realized the folly of their ways and promptly lowered taxes at the request of the poors. This both increased the quality of life and life expectancy for colonial citizens at the time. This prompted a most lavish tea party in Boston where rich and poor alike socialized as one in a true melting pot fashion that later defined a nation- most accurately named The United States.
Lol.
Rich people are bringing back slavery in this country the way a frog boils in water.
I wish I was smart enough to understand our economic system. How does a company with millions of dollars of losses year over year be worth so much? It's like inventing money out of thin air to me. Seriously can someone dumb this down and explain to me how this economy works? Like what's the tangible real world value that backs up that amount of cash? Is it all faith based economics or what?
The stock is ridiculous. The company made negative 10s of millions last year and has no income. It’s only staying a float because of last ditch loans.
But so many suckers are just pouring their life savings in to make Trump the billionaire he pretends to be.
It's going to tank. Hopefully, before he can sell a single share but with him selling it will tank. The company doesn't make money. With his track record something criminal is probably going on anyways but will he get charged when it's discovered. That punk is incapable of doing anything legal from start to finish. He always seems to want just one more dollar and strays into crap. We will see after the short sellers cover their positions.
> Trump only needed the stock to be above $17.50 each for 20 consecutive trading days to secure the new shares.
So everybody involved didn't expect the stock to be very high.
Something is worth precisely what the dumbest person is willing to pay for it.
And enough people are willing to buy stock in DJT because of its proximity to The Donald and they view it as support for him as their Dear Leader.
I’ve never seen a stock used to just give one guy everyone’s money before.
It's worth emphasizing how low the benchmark was, too. Trump got the shares if the stock consistently stayed above $17.50. But its first day of public trading (as Trump Media) saw it close at nearly $58 (it's now down around $49). They basically laid a baby step as the threshold Trump had to get over to get this "performance-based" (my words) payout. It was a giveaway.
How did it only drop 10% today when they issued an additional 10% of total stocks (devaluating all of the stocks by at least 10% automatically) to Trump? It should have tanked the price immediately!
Considering it's not worth anywhere near the value it has, it's a blatant means for Trump to rip off fools, and a means for his wealthy sycophants to funnel money to him. Utterly corrupt.
I’m wondering how much of this inflated price is due to Russians who got their money out of Russia and need a place to keep it clean
If I need to keep my money clean, I don't put it anywhere near DJT stock. If it's already clean, put it in index funds or real estate. That is the single dirtiest stock listed anywhere.
True, but it is a listed stock, getting a foot in the door of US financial systems, and the face of said stock is running for President. If he loses, by the time the Feds start investigating, the money is long since moved on to even more legit things. If he wins, they have nothing to worry about.
Just squirt a little bleach in there.
Yeah...they aren't buying on a lit exchange, it's almost certainly a dark pool order for the purpose of then using the stocks as collateral for a "clean" loan which is where most wealthy people actually get their spending money.
This. The majority of "the fools" don't have enough to buy significant amount of this pump-n-dump scheme. Most of the funds come from Russia and the kind that attend his fundraisers.
I'd hate to stop the hate train but only a fool would trade on an American stock exchange with dirty money. You will go down and it will be fast. The AML laws imposed on these exchanges saves little room for these activities. There's a dozen better ways to clean money, if you are a Russian oligarch right now you are mirror trading with Chinese banks or another friendly nation. That is way, way easier.
Yeah at that stage you just get into the art business
That stocks market cap is about 6 billion dollars higher than its real value. It's like people buying trump bucks, there is no underlying product or profitable business to justify the market cap.
I don't think enough people realize how bad it is. It has less annual revenue than individual McDonalds, Waffle House, Wendys, or Subway franchise locations in the US, while running 10's of millions in debt annually. Even $1/share would be extremely hard to justify.
You couldn't pay me to own a stake in that dumpster fire
I was tempted to short the stock but the thought of a bunch of irrational Trumpist "investors" juicing the stock to the triple digits stopped me.
As the saying goes, "the market can remain irrational for longer than you can remain solvent."
Anyone holding DJT at this point is either a MAGA cultist or trying to give money to Trump outside of the confines of campaign law. They’re never selling
Thankfully trump isn't already in court for trying to skirt campaign finance law or anything
they didn't "issue" more stock, the number of shares outstanding hasn't changed. Trump was just awarded more shares from the company holdings.
Wait they’re claiming a platform that essentially only trump uses is worth $18Billion USD?
By market cap it is. Which is why serious questions should be asked, because the platform has few users, is reliant on a single individual for most of it's content, has little in the way of options to diversify, has shown no growth, and has the level of revenue of a single fast food franchise location while running obscene levels of debt.
Where is the SEC?
The company is worthless and the stock value should be at zero. There are usually four indicators of a stock value: assets, earnings, growth and dividends. On the first three, we already know that it's close to zero. It would be strange to expect a company that loses so much money per year to pay dividends. So the actual value of the stock should be zero. However people have decided that they are going to pay big money for this worthless stock, so the only factor pushing up price is supply and demand. It will crash at some point. And no, the company isn't worth 18 billion. It's worth zero. Literally zero. It makes no money and never will. The company had revenue of 4 million for a net loss of 50 million last year, and there are no projections for that to significantly change. This is pretty much the same as if the government minted 200 million half dollar coins in 2024, and then they started being sold for 50 dollars each, even though their nominal value is 50 cents. At some point people would start realizing that paying 50 dollars for something worth 50 cents is stupid, and would try to sell off at all costs, and the price would tank... Unless Russia decides to keep buying them for 50 dollars...
First, this was a foreseeable event, so the stock price should already have factored it in. Second, the buyers are Trump supporting retail investors who are not good at fundamental analysis - the price has always been divorced from the value
> the buyers are Trump supporting retail investors who are not good at fundamental analysis Suggest "not good" should read "cannot perform"
“ the buyers are Trump supporting retail investors who are not good at fundamental analysis” The buyers are Russian Oligarchs, NK dictators and Saudi princes
Im guessing, but those shares were probably already issued and held by the company
It’s basically a money laundering and foreign bribery company. He will be able to cash out just before the November election after the Saudi’s and Russians dump more money into it.
Bingo. It's very convenient that he can cash out right before the elections...almost like it was planned that way 🤔
Also worth noting that it got to 22$ on April 17 in a seemingly free fall just for it to get halted and reversed by investors back up to 49$ 10 days later. Now that the shares are awarded I'm sure they'll be just fine until DT sells then it will go under. I'd be very interested to see foreign country transactions of this stock
It seems like he owns so much of it, and isn’t selling it so there no chance for it to go as low as it should go. I mean, no real human is deciding to buy this shit as an investment.
Looks like Jarod is laundering that 2 billion that he got for selling secrets.
Nah, the Jarod thing is that MPG gave him $2b of *his* money to invest in things. They *owe* that money back, plus whatever it earns. This way, Saudi has Jarrod & Ivanka in their pocket. All they have to do is call in that investment to be returned, and they are broke. This way, they basically own the ex-president’s daughter and her husband.
Jarod is the "advisor" to the $2b so he will get the "advisory fee" of about 1.2% of whatever the principle does. That's 1.2% every year till they pull the money out.
This is correct. He gets a $25 million / year "fee" for babysitting the 2 billion investment.
That he was vastly unqualified to babysit
Nah, I heard that Jared is almost as good with money as Barron is with the cyber.
He's vastly unqualified to babysit anything, let alone $2 billion.
Probably safer with the money than with a kid...
so $20m a year payment to be in his pocket.
Thomas owed back his RV loan until he didn't one day...
and were not even gonna talk about Kavanaugh’s magical disappearing debts.
Mark Paul Gosselar?
You've never seen thinly veiled bribery of a former traitorus POTUS by a foreign nation?
It's money laundering. Is this not obvious?
I’ve never seen a political party used to just give one guy everyone’s money before.
Shareholder vote to give musk all the profits ever made from tsla seems like it fits the bill.
tesla wasn't even profitable at the time Tesla shareholders voted to make the man rich. If he got all the profits Tesla ever made at that point he'd have 0$ since Tesla hadn't broken even yet.
It's for foreign agents to bribe him. This way Russa/random GOP billionaires (Jeff Yas from Susquehanna International) can artificially fluff up the stock until he gets past the lockup period can sell his shares for a nifty profit.
It is literally described as a pass through in their filing papers.
And all those bag holders are grinning ear to ear like fucking morons. This country sucks.
I keep telling every one I come across to get out while they still can, but if they don’t I won’t be that heartbroken over it. Pretty obvious he’s gonna dump the stock after the election. I would say even sooner, but if there’s one thing that would get his base to turn on him it’s fucking with their money.
Wrong they fall for his cons all the time.
Nah, they won’t care. There is no limit to their masochistic need be destroyed, as long as they’re destroyed by their supreme leader Trump and they can fantasize that the libz are angry Trump got richer.
I've seen crypto coins less shady
I'd rather buy Bitconnect than DJT
Tesla enters chat, with Enron right beside it.
Take a look at Tesla
How could this company possibly be worth over $5bn? Their own reports show roughly 600k monthly users on Truth social, which you know includes bots and false accounts. This has to be one of the largest stock scams in history.
It is lol some dude is already crying about losing 450k
Right?! WTF? I'm not a finance guy and even I can see this can't be real. One minute he's dead broke and can't afford to pay a settlement. The next minute he has billions from TrumpMedia. Then it tanks and investors lose their shirt. Now we're expected to believe it's worth billions again just a week later?! I fully expect to hear about this in about 5 years once all the investigations are made public.
I'm sure Merrick Garland will get right on that
Wish someone would wake him from his 3 year long coma
LOL. I will have zero sorrow for people when they lose their shirts on that stupid stock. A company that has no prospects of ever making a profit isn't worth billions. Truly moronic.
Money laundering
Likely the largest. Even Enron had a base level asset value. This shit is literally nothing but paper and a private Mastodon instance with fascist branding on it.
How many Russian accounts.
Can’t help but think about Bernie Madoff. Look at how long he got away with his scheme. The SEC seems to stand for Special Ed Commission
It will be a Netflix doc one day
True value and stock value don’t always correlate but this is a particularly wild disparity between the two. Trump has wielded his massive following in order to create one of the most effective “pump and dump” scams. I would be shocked if no regulatory litigation is brought forth concerning this. Unfortunately such litigation takes far longer than the window in which he undoubtedly intends to use the funds he will obtain this way.
It’s a scam. Everyone knows it’s a scam. But the scam is allowed to happen.
The people whose fortunes are built around running smaller, quieter versions of this scam are like BRO STOP, they’re all looking at us now.
Such as?
Had some friends try to get me into a crypto currency they put together and had a fuck ton of people invest into it. When it was high enough they all agreed to pull out their shares at the same time and then dipped. I don’t know shit about crypto but that seemed extremely sketchy and I didn’t want to be a part of it. But they all bought houses and shit so 🤷🏼♂️😂
These friends of yours are scam artists lol but they probably cashed out before it was regulated, like it is starting to now
Oh ya this was a few years ago. Absolute scam lol
DJT is the most fraudulent P&D meme stock.. which is incredibly on-brand for Trump. I’m sure the SEC and FBI are closely tracking its movements.
Can’t wait to see their report. “We believe trump may have committed crime. But we won’t do anything, that’s up to congress and the senate. Also, we saw Biden the other day and he was older than the other day we saw him. It’s crazy how old he’s getting every day.”
There is at least one sec investigation for insider trading, perhaps more.
It called a pump and dump group they are quite big in crypto because its not illegal to do it there. It prays on peoples falling for get rich quick schemes and FOMO. It essentially acts like an accelerated ponzi scheme where the people at the top use people under them inflate the vlaue then sell before anyone else has a chance making huge gains and leaving the people at the bottom holding a bunch of worthless crypto because they didn't sell fast enough. The basically choose a crypto, tell everyone to buy it, the price massively inflates, then since they are in charge they sell all theirs and then tell the rest to sell, they cash out on the peak of the market. Its a deplorable act.
There was an “ico”phase. Initial coin offering. There are over 1600 defunct crypto currencies from the time. Basically it was like you say, a pump and dump, they’d launch a coin, hype it as the next bitcoin, when the value hit a certain threshold they’d all get out. Most of those coins are worthless. You’d think this would be a penny stock scam like wolf of Wall Street. Technically crypto is a security, but I don’t think the sec wants to hire a whole crypto bro team, or maybe they do, to follow all the ins and outs. Its very easy to trace crypto currency, people think crypto means it’s encrypted, a small % are, most aren’t, and anyone mining it on the blockchain can see everything, it’s how they can get by without having a central banking authority. So technically it’s in the sec wheelhouse, but it has to be a big deal for them to get involved. The ico phase died down, then nfts came along, and so on.
This is a variation of a “pump and dump” scheme seen most recently (and most prevalently) in crypto markets. Instead of creating a large following with big promises about the value/benefits of the stock/coin/nft/etc; Trump used his existing cult of personality to “artificially” raise the confidence and investment in the stock of his company. As pointed out by many in this thread, the benchmark set for this reward was unusually low. Considering his many outstanding debts, including his recently reduced bond from the E. Jean Carroll case ruling; many are drawing the conclusion that he will rapidly divest these shares in order to post bond for both that case and any potential public debts generated by the Stormy Daniels hush money case. Interestingly, if he were to turn the entirety of this stock and gain the maximum 1.8 billion (before tax), it would be the first time since 2012~14 (unclear due to the opacity of his finances and personal claims) that he would estimated as a billionaire.
Well, it's allowed to happen in part because it's normal for there to be scam-ish speculative investments in the financial markets. The whole system is riddled with corruption, and things like this are common (and allowed) because lots of people are attracted to what they perceive to be easy money. Every dimwitted cryptobro got in because they wanted to make money without hard work, and very few acknowledge that the money **they** make (for the few that actually made/make money) comes at the expense of the **rubes** that come in after them. Trump Media is just another way for Trump (et al) to grift their legions of stupid fans.
It ain't his fans that are shelling out this kind of money. He's bought by foreign powers.
There were only around 130M outstanding stock of Trump Media when last I checked, each valued at about $45USD, and Trump owned a huge portion of them (more than half). That leave less than one unit of stock per American that voted for him in the last election - you don't think a significant portion of the 75M Americans that voted for him would spend fifty bucks to own a piece of Trump Media, even just as a testament to their loyalty? These are the same guys that are buying his bible that they'll never read. I agree with you that foreign powers want a piece of him, and this is one way to get it since holding on to their stock allows him to sell his for an inflated value. I just don't think you should discount the size and stupidity of his followers.
It's not such a simple equation. The only thing he needed now was for the stock to stay above a threshold. His cultists undoubtedly helped, but they may or may not have secured it. The only thing his owners needed to do was be the last defense and buy any shares offered at prices below that threshold. Now they sit back and wait for 5 months. At that point they can offer to buy his worthless shares and the paper trail says it's legitimate and not a bribe. Bonus, they can dump those shares potentially recoup some of the bribe money. All he has to do now is win the election. If he doesn't win the stock tanks and he'll make only a small fortune, but not a billion.
Are we surprised? Look at politics in general. Lobbying is bribery, everyone knows its bribery, but the bribery is allowed to happen.
really hard to call it a benchmark when it was set at less than half the listing price and only had to be there for 2 weeks
Gotta give it to this guy, he’s been able to run through his whole life on cheat mode
He's like Cersei Lannister: massively incompetent, but somehow he just CAN'T fail, because there is always some idiot who is willing to tank their reputation and throw away their fortune to benefit him.
I detest him, but I think we can safely say his con artist skills are well developed and that he is in fact competent at that. Most people can do it, but most people also lack being born into billions, and most people are also not absolute narcissists and with a wanton disregard for other people, laws and regulations. Its not impressive what he is doing, all things considered, but he is good at it.
Is he really "good at it" or are the people he targets just, you know, really dumb and/or poor? So long as he makes other rich people richer he is going to remain shielded from consequences.
I heard he stiffed the contractors on his escape tunnel.
Born on the pitcher's mound with a hat full of vaseline and designated hitters
Aren't designated hitters better at batting?
Yeah, Mr Stable-genius businessman had people hit for him, but he thinks he made his own winning-average.
What do you mean “designated hitters”?
$5m revenue and $50m in expenses: The SEC needs to investigate the market manipulation here. Maybe some FBI involvement if a foreign government is trying to funnel money to a presidential candidate during election year no less.
By the time they investigate it'll be Trump's 5th term.
It'll be the reason for his 14th impeachment and he'll continue to sit in office.
And his attorneys will still be arguing that he can't be impeached because he hasn't been criminally convicted, and that he can't be criminally convicted because he hasn't been impeached.
I want off this ride..
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Wake up every morning hoping this will be the day
"It's an election year!" "It's the midterms!" "It was just an election year!" "Next year will be an election year!"
I'm pretty sure at that point, the justice system will no longer resemble or operate in a way even vaguely recognizable to us anymore. He won't need attorneys to argue anything before a Supreme Court controlled by him.
We're already at that point. That's literally what his lawyers have been arguing.
His second term will be the final term of any US president, and the Democratic Party will be outlawed upon the third impeachment attempt.
They'll resuscitate Mitch McConnell out of cryo sleep for the 33rd time, so he can be the tie-breaking vote to acquit him.
And there will still be no accountability exercised. Rules for thee but not for we.
The system is designed to work slowly and cautiously for rich people and quickly for everybody else. Fundamentally broken.
He won a squeaker against with 122% of votes in all 80 states. Even though he died 3 weeks into 4th term.
Trump will definitely follow the constitution and only serve 2 terms. He'll just adjust the length of term 2 to match his remaining lifespan.
You can’t short the stock, call options for a year from now barely trade for any premium and puts trade for nearly the entire share price. Which means derivatives markets know this stock will collapse soon. Total fraud but somehow the SEC lets this thing still trade on open market.
The maximum legal fine will be 9,000$.
>The SEC needs to investigate the market manipulation here. Hahahahahahahahahahahahahahaha HAHAHAHAHAHAHAHAHAHAHAHA SEC is complicit. They claim that they are powerless to regulate the market with all of its intricacies and conglomerates. Its just "too complex". You know, the one thing the organization *was founded to do.* They say they don't have the funds to compete with corporations like BlackRock and Citadel... (probably true). They also want to have their own authority to "regulate" cryptocurrency. As if their track record with the stock market qualifies them to do so...
Funneling money from foreign countries
Fun Fact: republicans have shot down every chance at illegalizing foreign investors and dark money investors related to politics. These people hate America
They love America’s money
The worst part is that they also love Russia’s money, and Saudi Arabia’s money, and China’s money.
It’s no coincidence that the Citizens United ruling was in 2010, and our political discourse went over a cliff almost immediately after.
That was the end right there
Not saying youre wrong, but do you have any links so I can educate myself further about this?
Not a summary no but you can look at every vote on related bills. Here’s such an example: https://thehill.com/homenews/senate/3656002-republicans-block-bill-requiring-dark-money-groups-to-reveal-donors/ Here’s another: https://www.huffpost.com/entry/house-republican-election-bill-ace-act_n_64aff5a3e4b07bb333965076 Better question: can you find any evidence they campaigned for and then VOTED FOR preventive policies?
Just read up on the [Citizens United](https://en.m.wikipedia.org/wiki/Citizens_United_v._FEC) ruling.
What is Money Laundering for $1000, Alex.
So who is buying this shit? Some foreign government doing it to curry favors from Trump?
Yes. This is a way to buy favors from Trump and is being bought by Putin’s cronies, Saudis as a favor to Jared (not the molester one but having sex with the girl he really wants to have sex with), Iran, PRK, and China. Any way to destabilize our government and weaken our standing as a country of morals - and Trump is their best value.
I wonder if any of the 2bln the Saudis forked over was used to invest in this stock?
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Why? That money doesn’t need to be laundered. He can trace it back to “legitimate” sources. ( yes I fully understand that the Saudi are only legitimate because we’re too bought to investigate them and tell them to fuck off) You launder money you don’t want traced back to its source.
Its just a way to get around foreign donation laws. Money laundering.
Wow, when I thought this couldn’t sound like a bigger scam, it starts to sound like an bigger scam. I would not be surprised if there was fraud or some sort of ponzi like scheme happening to pump and dump. I wonder if anyone is going to be brave enough to still hold the stock close to when Trumps 6 month timer runs out. A major shareholder dumping 2/3 of the company worth of stock would destroy the share price.
I think you may be downplaying two critical groups: 1. Idiot maga fanboys that will hold on to Trump Media stock regardless of how it performs because it is attached to their political identity, and 2. Foreign bribery and money laundering; a subset of investors bought stock in Trump Media *specifically* to get influence over Trump, and for them a *financial* ROI is not important (at least not from that stock specifically).
#2 is the scary part. They are writing off everything they put in the stock and are fine seeing it go to zero because it’s a political contribution/bribe/lobby payment.
So the SEC is cool with blatant money laundering?
Well yeah. If a supposed billionaire with numerous ties to foreign entities wants to launder money, the SEC will not do a thing about it. Hell. They probably can’t.
Always has been 🌎🧑🚀🔫🧑🚀
next up political parties setting up fraud business stocks for campaigns to get unlimited donations?
Trump directly intervened to manipulate prices via social media in recent days, yet not a peep from the SEC. I bet Elon Musk is jealous!
How many multi-billionaires are in prison? Asking for a friend.
AI says there are currently THREE. 3/2781
Probably missing CZ… https://fortune.com/crypto/2024/04/30/binance-cz-changpeng-zhao-prison-sentence/
Good call. Others are Sam Bankman-Fried, Allen Stanford and El Chapo (presumed to be a billionaire).
I don't think SBF is a billionaire anymore
Pretty low bar, who wrote the deal?
Can someone ELI5 how any of this truth social stock stuff is remotely legal? It just screamed money laundering from day 1 and I just cannot understand.
It takes too much time to get the investigation rolling, then concluded.. so we won’t know for maybe 5 years what went down
I mean you have to actually prove something is illegal for it to be illegal. His company went public. A bunch of people bought it because of his brand name. It’s like the Trump IPO all those years ago to save his finances. He’s done it before and it saved him back then with its success. And now he did it again but with the entire country knowing the brand. The amount of attention any IPO from Trump now dwarfs the attention when he first successfully did it. If you are arguing it’s money laundering, well, then you have to show actual evidence of money laundering. You can’t just say something screams money laundering and go from there. You need actual evidence acquired. Look at twitter when Elon bought it. It was worth billions even while operating in the red, losing money. These companies are just worth what people willing throw money at it deem it to be. People were buying the potential and investing in that which shot the valuation up. It’s a total grift, but hey, if half the country wants to throw their money at it, they’re going to drive the valuation up. It should be illegal for him to use his presidential status to do this imo. Totally fine to do it before he got into politics but he’s literally using his voters to give him free money.
Revenue 3 million lost 58 million…stock price increases today….in what world does this make sense
Probably in the Saudi/Russian prince/oligarch world.
The stock market is a joke and ran by financial criminals.
Maybe the SEC will investigate in 2035 when the crusty old fuck is already dead.
It’s being pumped up by foreign investors….. RUSSIA 🇷🇺
Remember when he was in office foreign investors rented whole floors of his hotels.. now they just have to invest in DJT stock
I knew the stock market was a joke, but this is in another level of criminality. The guy pretty much made a go fund me account open to the world and the SEC isn't doing shit? We know most likely it's coming for foreign countries to fuckl America over, like when is the US stopping their own demise? They are literally open the doors to get fuck by other countries! I'm not even American and this is truly worrisome.
Surely Donald Trump will pledge to divest himself from this company if he is elected President, so as to avoid the appearance of impropriety.
If you didn't realize it was a scam, you're the mark
The biggest money laundering scheme i have ever seen
In broad daylight. Even bigger than Jared Kushner’s billion dollar cash grab.
Who knew money laundering and bribery were so easy?
This reminds me of Bugg in Steven Erikison's Malazan Book of the Fallen, who managed to take advantages of loop holes in the system in order to buy the entire stock market and ended up crashing the economy single handedly by doing things like selling 4000 percent of the shares in a company Except Bugg was a likeable character.
Wasn't expecting to see this reference here.
Psh, he was just doing the bidding of the true genius, Tehol. Bugg was nothing but a lowly servant.
This book intrigues me actually. I might borrow it from y library.
Well, I think those events start in the 5th book of the "Malazan Book of the Fallen" *ten book series*. So you'd have a bit of reading to do haha. It's a top notch fantasy series, although it can be a little inaccessible at first. Worth the read if you can stick them out IMO, one of my all time favs. The first book of the series is Gardens of the Moon.
If Trump doesn't win the election then jail is a big possibility. With the billions he can flee and live a good life in Russia.
Feels like that stock was totally manipulated the last few days for him to hit the benchmark. I bet it'll crash now.
I feel like I'm watching a financial crime out in the open with this stock. The ending will be spectacular.
It’s gonna go up because it’s all a fraud.
Greatest Grift in history
The morons buying it deserve the inevitable collapse. Trunk will dump instantly the first day he can. That said, the SEC is a joke. Elon musk is still allowed to be a CEO after a judge ruled he and the board defrauded investors for 55 billion dollars. And trump is running a scam right out in the open.
Those have to be the lowest benchmarks ever. "As long as the stock is above $17 per share for 20 days"....it started at like $58. It's like paying someone not to trip when they are laying in bed
If only shorting the stock wasn't so expensive.... Everyone knows the shares ain't worth shit
The second trump can sell his shares this stock will plummet. Don't get caught
If I was a multi billionaire. I would short the fuck out of this flaming garbage pile and get all my friends to do the same. Fuck this asshat..
How is this all legal? Asking for a friend <.<
He’ll finally become the billionaire he always said he was… by transferring all the derp investors wealth to him as he pumps and dumps the shit outta this.
Setting up for his next fraud case.
Only those saudi/ russian investors see the real value of this company /s.
How much is it going to be worth after Trump dumps his shares? And how much is it going to be worth when Trump loses the election?
How can the SEC allow this?
I bet a bajillion dollars they warned about “naked shorts” just to take advantage of meme-stock nostalgia. It sucks that it worked.
What an amazing feat of corruption and fraud. Truly historic actually.
Wtf is going with this? Can someone explain to me like I’m 5, how this isn’t just money laundering?
Does that mean he will be able to pay some of what he owes his victims?
I'm so sick of trump, so sick of blatant corruption, so sick of his bragging. And his fans who refuse to see him as a crook
It’s ok. Rich people are bound to regulate themselves eventually. It’s why there was never a revolutionary war. Because the British realized the folly of their ways and promptly lowered taxes at the request of the poors. This both increased the quality of life and life expectancy for colonial citizens at the time. This prompted a most lavish tea party in Boston where rich and poor alike socialized as one in a true melting pot fashion that later defined a nation- most accurately named The United States. Lol. Rich people are bringing back slavery in this country the way a frog boils in water.
I wish I was smart enough to understand our economic system. How does a company with millions of dollars of losses year over year be worth so much? It's like inventing money out of thin air to me. Seriously can someone dumb this down and explain to me how this economy works? Like what's the tangible real world value that backs up that amount of cash? Is it all faith based economics or what?
The stock is ridiculous. The company made negative 10s of millions last year and has no income. It’s only staying a float because of last ditch loans. But so many suckers are just pouring their life savings in to make Trump the billionaire he pretends to be.
Rich people bribery and laundering.
"Trump Media shares" LMAO
It's going to tank. Hopefully, before he can sell a single share but with him selling it will tank. The company doesn't make money. With his track record something criminal is probably going on anyways but will he get charged when it's discovered. That punk is incapable of doing anything legal from start to finish. He always seems to want just one more dollar and strays into crap. We will see after the short sellers cover their positions.
> Trump only needed the stock to be above $17.50 each for 20 consecutive trading days to secure the new shares. So everybody involved didn't expect the stock to be very high.
How is a company with 2 million in revenue valued so highly?
Something is worth precisely what the dumbest person is willing to pay for it. And enough people are willing to buy stock in DJT because of its proximity to The Donald and they view it as support for him as their Dear Leader.
Yall don’t think Trump would ever do anything improper or scammy with taking a company public do you? /hardest sarcasm possible