Donald Trump is the majority owner of Trump Media, which owns social media platform Truth Social and trades as DJT on the Nasdaq.
  • tal@lemmy.todayEnglish
    781·
    3 months ago

    checks Yahoo Finance

    It’s lost 29.69% of its value in the last five days.

    • fine_sandy_bottom@lemmy.federate.cc
      19·
      3 months ago

      These reductions are so large it’s hard to conceptualise.

      There was a peak several months ago of $65. Now they’re $13.55 or sth?

      Commentators all along have been saying that the values are a proxy for Trump’s popularity. If so, things aren’t looking good.

    • ikidd@lemmy.worldEnglish
      3·
      3 months ago

      The Saudis and Russia will shore up the price shortly before mushroomhead starts selling like a banshee, then they’ll slurp up all his shares at the ask price. I’ve thought about call options but I’m not that brave.

      • MintyFresh@lemmy.world
        4·
        3 months ago

        That’s what people are missing here. It’s essentially just a vehicle for anyone to bribe trump nice and easy.

      • thatKamGuy@sh.itjust.works
        3·
        3 months ago

        I don’t think Russia’s affording all that much nowadays… last I heard, they were experiencing liquidity issues trading with China?

        • orcrist@lemm.ee
          2·
          3 months ago

          Russia has many different rich people in it. Some have more free cash than others, of course. It isn’t some monolithic entity.

  • foggy@lemmy.world
    33·
    3 months ago

    Oh that’s beautiful. It’s actually been a pretty good week for tech considering there was a pretty bad couple of days last week.

    Trump’s stock is almost the lowest it’s ever been. It’s lower than the IPO price.

    • Biggles
      12·
      3 months ago

      Book value per share is around $1.50. However, they don’t make any profit so the actual value of the company is considerably less. In my opinion, not financial advice.

  • acosmichippo@lemmy.worldEnglish
    16·
    3 months ago

    so not only is the stock plummeting, it means the employees there have no confidence in the company whatsoever lol.

    • etchinghillside@reddthat.com
      12·
      3 months ago

      Eh, consider selling and diversifying if you’re ever in this situation. (Not working for Trump Media – but an IPO after lockup expires.)

    • kenopsik@lemm.ee
      30·
      3 months ago

      “Lockup” is an investment term. When a company has an IPO (Initial Public Offering, which is the day they become publically available for stock trades), the big shareholders and company employees who are invested ahead of the IPO are “locked” from selling their shares for a certain number of days. This isn’t required, but most companies having an IPO end up having a lockup period set as well.

      In regards to this headline, it just means that the initial investors and big shareholders are now free to sell their shares, which they are apparently doing in droves!

      • tal@lemmy.todayEnglish
        81·
        3 months ago

        which they are apparently doing in droves!

        There was a rather public legal fight earlier with two of the co-founders (not Trump) who were trying to exit and claiming they had the right to do so earlier than the lockup date and that the company wasn’t letting them do so. IIRC, they held about 10% of the company.

        I’d assume that they got out or started getting out as soon as possible.

    • IMongoose@lemmy.world
      14·
      3 months ago

      I thought about it but decided it wasn’t a good idea to use logic on a stock powered by vibes / fraud. “The market can stay irrational longer than you can stay solvent” and all.

    • roscoe@lemmy.dbzer0.com
      11·
      3 months ago

      I thought about that. Apparently the short interest was so high they were charging shorts crazy interest rates to borrow it. You’d have to bet on a huge drop in a very short amount of time. I can’t be bothered to look it up but I think it was something crazy like 40-50x a normal rate. One of the only reasons to hold was to charge short sellers interest, for a sane person anyway.

    • MagicShel@programming.dev
      5·
      3 months ago

      If I hadn’t been out of work for months, I’d have started an account just to short it. It’s rare to find such a sure bet.

    • iamanurd@midwest.socialEnglish
      1·
      3 months ago

      I looked into it. Apparently shorting it was really difficult/nearly impossible because of the high demand of people who were trying to short it.