• FiremanEdsRevenge@lemmy.world
    link
    fedilink
    arrow-up
    114
    arrow-down
    2
    ·
    1 month ago

    Trump owns nearly 59% of Trump Media’s stock. Even after losing much of its value, Trump’s stake at Wednesday’s stock price is still worth more than $2.2 billion — more than half of his on-paper net worth, according to Forbes.

    Yea, I call bullshit on that.

      • MiltownClowns@lemmy.world
        link
        fedilink
        arrow-up
        75
        ·
        edit-2
        1 month ago

        Thats the best part! He can take out loans against that as collateral. Then when he inevitabley defaults and the banks finally acknowledge the collateral is worthless, we bail out the banks! Capitalism!

      • ikidd@lemmy.world
        link
        fedilink
        English
        arrow-up
        10
        ·
        1 month ago

        Not if there’s a state actor or two to keep buying. I wonder who that would be…

        • SinTacks@programming.dev
          link
          fedilink
          arrow-up
          23
          ·
          1 month ago

          He can’t just sell 2bn at once. They’re saying as he sold the price would naturally crater even without news getting involved.

      • ripcord@lemmy.world
        link
        fedilink
        arrow-up
        5
        ·
        1 month ago

        Since the stock price is based on fee-fees, grift, bribery, and money laundering - there is absolutely no reason to think this is true.

    • AlecSadler@sh.itjust.works
      link
      fedilink
      arrow-up
      18
      ·
      1 month ago

      There are 192M shares and an average daily volume of 5.5M.

      There is no way Trump could sell 113M shares quickly, the stock would absolutely crater and the market would react.

      • Zron@lemmy.world
        link
        fedilink
        arrow-up
        4
        ·
        1 month ago

        But he can still borrow against the value of those shares.

        That’s how these parasites afford all their private jets and other insane luxuries. They just pull out loans against the value of their stock holdings, pay accountants to make sure it’s never a problem, and essentially spend their money while keeping it too.

        It’s insane, because they essentially never have to pay taxes on anything but their personal income, and then you have grifters like musk who don’t even take salaries and just live off the loans.

    • rayyy@lemmy.world
      link
      fedilink
      arrow-up
      7
      ·
      1 month ago

      Wait until the weird orange felon cashes out as soon he can, leaving all his poor investors with worthless TS stock that they mortgages their mobile homes for.

  • originalucifer@moist.catsweat.com
    link
    fedilink
    arrow-up
    74
    ·
    1 month ago

    The deal would “guarantee access to additional capital, if necessary, to pursue big strategic opportunities as we look to build out our portfolio by acquiring assets and technologies in the Patriot economy,” Trump Media CEO Devin Nunes said in a July 3 press release

    wtf is ‘the patriot economy’??

      • some_guy@lemmy.sdf.org
        link
        fedilink
        arrow-up
        9
        ·
        1 month ago

        I recently approached a friend asking that they seriously consider whether we would have moral issues against getting in on the grift. There was that asshole who sold patriot beer for a huge, shitty markup when the budweiser thing happened. It wasn’t even good beer. I said that we could put in incredibly little effort and make money off these rubes. My logic was that they were going to purchase stupid products like that anyway, so why not get their money ourselves.

        We went back and forth on it. We concluded that we’d only create products that 1. did no harm to marginalized groups and 2. would end up leading cultists to tell on themselves. We agreed to let the idea percolate to see if we thought there were good opportunities worth our time.

        An example of telling on themselves might be a tshirt that says, “Guess I’m deplorable,” if it were 2016. We kicked around some contemporary phrasing. Nothing has been worth making the effort, so far.

        • figjam@midwest.social
          link
          fedilink
          English
          arrow-up
          2
          arrow-down
          1
          ·
          1 month ago

          I briefly considered doing the same. Ultimately I decided I didn’t want to take advantage of other poor people. Yes, they were probably going to spend their money anyway but I would have trouble sleeping for being part of the problem. You do you tho. I ain’t telling no one how to live

    • danc4498@lemmy.world
      link
      fedilink
      English
      arrow-up
      21
      arrow-down
      1
      ·
      1 month ago

      Honestly, I think this is just a call for all Trump fans to do with this stock what Reddit did with Game stop. Buy and hold until Trump can legally sell his shares and burn the stock to the ground.

      • MagicShel@programming.dev
        link
        fedilink
        arrow-up
        19
        ·
        edit-2
        1 month ago

        They are rustlers, cut throats, murderers, bounty hunters, desperados, mugs, pugs, thugs, nitwits, halfwits, dimwits, vipers, snipers, con men, Indian agents, Mexican bandits, muggers, buggerers, bushwhackers, hornswogglers, horse thieves, bull dykes, train robbers, bank robbers, ass-kickers, shit-kickers and Methodists.

  • Blackout@fedia.io
    link
    fedilink
    arrow-up
    21
    ·
    1 month ago

    There would be justice if everyone got out before Trump could sell and left him holding the bag.

    • Wrench@lemmy.world
      link
      fedilink
      arrow-up
      21
      ·
      1 month ago

      Even if he sold at $1 a share, he’s going to get far more than its worth out of it.

      • AmidFuror@fedia.io
        link
        fedilink
        arrow-up
        10
        ·
        1 month ago

        Yep. It’s just another scam. Someone has to want to buy it from him. Those people will be left with something worthless, and Trump will walk away with their money.

        Not unlike how he’s made a lot of his other money.

  • reddig33@lemmy.world
    link
    fedilink
    arrow-up
    15
    ·
    1 month ago

    So when the timer runs out, will Trump sell his shares at a huge loss, or will the stock “magically” rally before he sells?

    • Andonyx@lemmy.world
      link
      fedilink
      arrow-up
      15
      ·
      edit-2
      1 month ago

      Sadly there is no loss for him real or on paper. He only donated his name and usage rights to the company, any actual value came from suckers, and other REP. grifters. Even if each share is a cent by the time he sells, it’s still just profit for him.

      Now, if other shareholders could come together and agree that he acted against their interests, THEN he could conceivably lose money in a resulting suit.

      • hitmyspot@aussie.zone
        link
        fedilink
        arrow-up
        2
        ·
        1 month ago

        Unless nobody buys and the company debts are more than assets. In which case its worthless and he bankrupts another company.

        Currently its burning through a lot of money with minimal income, despite not developing their own software.

  • tal@lemmy.today
    link
    fedilink
    English
    arrow-up
    13
    ·
    edit-2
    1 month ago

    But the lock-ups are set to expire as soon as Sept. 20, at which point Trump may choose to start selling his shares.

    https://en.wikipedia.org/wiki/2024_United_States_presidential_election

    The 2024 United States presidential election will be the 60th quadrennial presidential election, set to be held on Tuesday, November 5, 2024.

    So he can start to dump it a month-and-a-half before Election Day.

    This should be interesting.

    I’d sort of imagine that if I were a True Believer who had put a lot of my money into Trump Media on the promise that Trump was going to make me rich, I might be a little irked if Trump bails out.

    • ripcord@lemmy.world
      link
      fedilink
      arrow-up
      4
      arrow-down
      1
      ·
      1 month ago

      I seriously doubt almost any of the goons or money launderers or bribers that bought the stock have done so thinking they’ll make much - or any - money.

    • RunningInRVA@lemmy.world
      link
      fedilink
      arrow-up
      2
      ·
      1 month ago

      It’s going to be a race to the bottom as we approach 9/20. If he keeps tanking in the polls (he will) then so will the stock price.

  • modifier@lemmy.ca
    link
    fedilink
    arrow-up
    12
    ·
    1 month ago

    that is what Devin Nunes is up to these days? What an insufferable urinal cake of a human.

  • WindyRebel@lemmy.world
    link
    fedilink
    arrow-up
    4
    ·
    edit-2
    1 month ago

    What a loser. I don’t want presidential candidates that can’t find growth in their companies. What a basement dweller. Sad.

  • Doom@ttrpg.network
    link
    fedilink
    arrow-up
    3
    arrow-down
    8
    ·
    1 month ago

    Buy in now in a month or so it’ll bounce at least a little and you’ll make slight profit

    • mosiacmango@lemm.ee
      link
      fedilink
      arrow-up
      14
      ·
      edit-2
      1 month ago

      A month is when the lockup period for Trump ends. He may sell like 60% of the company.

      Price ain’t gonna go up if the primary owner liquidates.

      • Doom@ttrpg.network
        link
        fedilink
        arrow-up
        1
        arrow-down
        6
        ·
        1 month ago

        It will go up and then he will sell and it will go back down. It won’t go up when he sells. He’s going to get it to pump

  • realcaseyrollins@thelemmy.club
    link
    fedilink
    English
    arrow-up
    1
    arrow-down
    7
    ·
    1 month ago

    I’m salty I never bought any of this stock. It’s probably one of the easiest stocks to time properly to get a proper profit from. No use getting it now though, Trump killed it.