#Trump’s Truth Social is now a public company. Experts warn its multibillion-dollar valuation defies logic
“Despite the late-day slide, Wall Street is still assigning Trump Media an eye-popping valuation of nearly $11 billion — a price tag that experts warn is untethered to reality.”
https://www.cnn.com/2024/03/26/markets/trump-media-stock-truth-social?cid=ios_app
@GottaLaff
Spoke with a friend today who is something of a self proclaimed expert in the stock market, and he looked at shorting DJT, but the price of the short is outrageous. Translation, an enormous number of people are betting on it to crater.
@mastodonmigration @GottaLaff
All the non-MAGAs expect it to crash and burn.
@PJ_Evans@mastodon.social @GottaLaff@mastodon.social
Pretty interesting conversation actually. There is no value at all, no cash, no income, no IP, in the company, so the price is a complete fiction (float?), and supported only by a very small amount of buys. Almost all the stock is locked up (non-tradable) so it is a true pump and dump play among speculators, with the added wildcard of the MAGA suckers (marks, rubes).