I keep hitting refresh on the Truth Social stock price....

[HueyRamone]

The schadenfreude is really making my day!!

https://www.google.com/search?client=fi ... edia+stock

Can we get to under $20 by today? I think we can!

[Kid-Wicked]

pump and dump.

[HueyRamone]

Ah, it went back up 15% today!

Very disappointing.

[HoldenSSV]

pump and dump.

This.

[Grendel]

Read that the board of directors released a statement telling people how to lock their shares so hedges couldn’t borrow and then short it. Ok I guess but not a great sign. Donald is itching to unload but he can’t for six months. Looking into unprecedented move where he could sell his shares to a private equity group and not run afoul of SEC laws. DJT has been advising chump bag holders to not sell for the good of America. Company has never made a profit and valued at 9 billion for the IPO. I’m beginning to think that Dementia Donnie is a. It of an unscrupulous person.

[Grendel]

The schadenfreude is really making my day!!

https://www.google.com/search?client=fi ... edia+stock

Can we get to under $20 by today? I think we can!

Are you short DJT? If so, good fucking job!

[Nate S Axel]

It's been a lot of fun to day trade -- going long and short!

[DemonFilth2001]

It’s gonna go to sub $1 and get delisted. The financials are complete shit.

[Nate S Axel]

As long as it's moving, whichever way it goes is fine with me.

[HueyRamone]

Why'd it go from $22 to $41? Any thoughts?

[Rocker4Real]

It seems volatile.

[HueyRamone]

God damn it, it keeps going up! Those idiot rednecks are getting all their money back!

[Danzig in the Dark]

God damn it, it keeps going up! Those idiot rednecks are getting all their money back!

Someone is.

[HueyRamone]

Trump Media shares have more than doubled in price, adding billions of dollars to both the company’s market capitalization and the ex-president’s stake.

The gains occurred without significant news about the company’s bottom line improving.

But Jay Ritter, a business professor at the University of Florida, said that the recent bump in Trump Media’s stock price might be the short-term result of recent statements and regulatory filings by the company targeting short sellers.

“In the last week or so the company has informed its shareholders how to make it difficult to loan their shares to short sellers, and it is possible that the number of shares available to short has decreased, increasing the [cost] borrowing rate for short selling,” said Ritter, who is an expert on initial public offerings.

“And it is possible that some of them [short sellers] have cut back on that.”

Ritter also that “there might be some” short squeeze occurring, in which short sellers, who are betting that the share price will drop, are forced to repurchase Trump Media shares to replace the stock they borrowed to sell short. Such repurchases can drive the price of shares, which in turn increases pressure on short sellers to buy stock to cover their positions, which also leads to price bumps.
More news on Donald Trump

Earlier Monday, Trump Media issued a press release that essentially underscored previously released information to shareholders advising them on how to avoid having their stock shares loaned out for use by short sellers to bet the price drops.

The company last week asked Republican committee chairs in the House of Representatives to investigate what it claimed was potential manipulation of Trump Media’s share price by short sellers.

Ritter said that request, which has yet to be acted upon, also could be helping drive up the share price.

But regardless of how much the attack on short sellers is affecting the price, Ritter said that Trump Media remains a “meme stock,” whose market valuation bears little if any relationship to its underlying business, and future business prospects.

Trump Media has more than $200 million in cash, but its social media business last year booked $58 million in losses with revenue of just $4.1 million.

But the company has as its effective face Donald Trump, whose political supporters are among the small shareholders helping to bolster the stock price.

“With these meme stocks it’s really difficult to predict what’s going on on a daily or weekly basis,” Ritter said.

“Whether we’re dealing with a price of $32 per share a week ago, or $46 now, we’re quibbling about whether the stock is overvalued by 1,000% or 2,000%,” he said.

Ritter noted that Trump Media’s market capitalization, when factoring in 36 million extra shares Trump was recently granted as a result of the stock price staying above $17.50, is about $8 billion.

“A company with less than $5 million of annual revenue and losing lots of money and doesn’t seem to have business plans that are going to generate a lot of growth,” Ritter said. “The company might be worth a couple of hundred million dollars, but $8 billion seems like on the order of 2,000%” of what it should be worth according to traditional metrics, he said.

Ritter expects Trump Media’s share price to eventually plummet to the low single digits.

When meme stocks “get fantastically overvalued,” he said, “it’s easy to predict with a high degree of confidence that the long-term returns are going to be pretty bad.”