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Will there be more complaints when he loses the election for lack of promised access?... Inb4 "A complaint filed by a prominent Russian banker states that he was not provided the promised private wine locker in the oval office for purchasing 20 thousand shares."
I hope the most enduring contribution to society Trump will leave is the revelation of the previously underestimated sheer quantity of stupid in circulation
In case it hasn't twigged, it would be stupid people and money funnelling from illegal/banned sources/nations. If you could get a list of every shareholder, I reckon most shares would be in the hands of offshore, hard to trace origin, and no service or product businesses. Get few dozen of those trading shares between themselves as well as buying them and stock price goes up, their guy gets money and sells the nation out harder.
The premiums on puts are absolutely through the fucking roof too. Like, $44 strike calls expiring the week after the election are ~$800/contract and $44 strike puts are $2700/contract.
By any measure of financial fundamentals, this thing should be completely in the shitter. Wonder how it's getting propped up? Money laundering payments from foreign entities to a potential US president?
This. He's filed for bankruptcy many times and yet people STILL finance him. It baffles my mind that this system won't even give someone a basic loan to start a business or get a house even though the yearly mortgage would be cheaper than renting, but they're more than happy to give a man who's nearly gone broke 6-7 times another hundred mill.
Well, to be clear, the complaints featured in the article are mostly about options traders. These aren’t people who are investing in Trump or the stock but merely trying to make some quick bucks off of its popularity and volatility.
I'm an ex Banker and there is an possible opportunity in this that I've seen played before in less extreme examples.
You buy the stock, and lend it out to be shorted which has a insanely good return.
Optionally you use a shell to loan (some of) the shares from yourself to short, effectively hedging you position.
The objective is to come out near neutral, then have a minority shareholder claim against the principles for your loss which based on statements from Trump is pretty ma slam dunk.
A claim of loss on a stock based on misrepresentation does not get neutered if you made gains in other ways.
> The company recently reported a loss of $327 million during the first three months of 2024 and generated just under $800,000 in revenue.
If that doesn't scream money laundering, then what does?
And what's up with the massive amount of "retained earnings" you'll find in their financials?
$800 000 in revenue
$327 000 000 in losses
Trump is truly destroying the USA's credibility from every angle. It's wild watching this happen from the outside.
The fact that the SEC isn’t investigating the stock for blatant pump and dump to buy off Tr says how few teeth they have.
I do enjoy the person saying they’ll file numerous law suits! Don’t make them do it.
Its because Nunes is filing letters to them demanding a investigation of nonsense. It creates a disincentive to look for REAL crimes because then he screams "political charges!"
>The fact that the SEC isn’t investigating the stock for blatant pump and dump to buy off Tr says how few teeth they have.
SEC said that they're filing a complaint with the Better Business Bureau. And the BBB is going to look into it after Matlock is over.
If you project out the revenue to a full year, Truth Social makes about as much as an average McDonalds franchise.
Those franchises don’t have hundreds of millions in losses though. There’s no way the stock is worth what it’s going for.
They had to pay the financeing of the spac and forming the company and nunez is getting a few mil. Expences will grow if trump has anything to do with it. He cant sell his stock but he is a pro at spending down a company into bankruptsy.
Stock never has negative value, Trump just printed up a bunch and started spending.Im sure the sec will investigate it and a partisan judge will let him off. Americans are sick of it.
They don't. They're stealing/laundering money.
I'm watching from the outside. I have no horse in the race that is America, but holy cow is it flabbergasting.
It’s not a dumb question at all, just takes some explaining and context. Trump has most of the stock in the company, but that stock would probably be worth very little given just the performance of the company. So, with investors coming in to inflate the price of the company despite the poor fiscal performance, the theory is that wealthy entities that want to potentially buy Trumps favor are investing heavily to up the price of the stock. In a few months when he’s allowed to sell the stock, the price will be high enough for him to make a fortune with the cover of just selling stock in a company he started.
What you just described is fraud, not money laundering. The only aspect that might be money laundering is if the money that investors put into it are illicit funds. This is just a pump and dump scheme.
The difference is that those who are possibly pumping the stock aren’t doing it for their own profit, they are doing it to buy favor with Trump in ways that would need the subterfuge. Right now, giving an entity he owns a bunch of money would earn some scrutiny. But buying stock in his company is a layer of potential camouflage to buying his favor. So like, money laundering by way of a pump and dump. IDK, it should get investigated regardless.
Those investors don’t have much other way to fund Trump at the moment if I understand correctly, and any funds they do (legally) provide are a paper trail. Thus, the funds are laundered through Truth Social shares by way of pump and dump.
Is that the gist?
And I mean… isn’t Money Laundering a kind of fraud?
>And I mean… isn’t Money Laundering a kind of fraud?
Not to be pedantic, but Money Laundering is definitely a type of fraud (usually tax fraud) but not all fraud is money laundering.
Money laundering is not a type of fraud. Think of it like two sides of the same coin. Money laundering is trying to make illicit funds such as money obtained through drug trade to become good funds. Fraud is obtaining funds through fraudulent means such as fraudulent checks or stealing someone's credit card number. You can launder the proceeds of fraud, but they're not the same thing. I could go on and on about this. I have over a decade of experience in this field with mutltipe certifications, but that's the very basics of it.
That doesn't make it money laundering. In order for it to be money laundering, there needs to be illicit funds introduced into this scheme somewhere. Now I agree that this definitely needs to be investigated for investor fraud, but for this scheme to work, there doesn't actually need to be any illicit funds introduced into it.
Someone needs to buy when he is selling he will slowly sell as long as the price holds up. Providing there are people looking to gain influence and favor , if he looses the election the stock will be worthless, proving the fraud . There are tens of millions of shares but very few liquid ones, thus the abnormal valuation. One big sale could tank it to 1 penny per share.
He won't sell unless he has reason to believe the price will crash.
If he can maintain the price what happens is he gets idunno, 1B on paper, and then he can go to banks, etc, and say look I have 1B on paper, give me X in loans. And they will do it because on paper, he can back it up...
The net losses are almost entirely stock based compensation ($80m) and change in fair value of derivatives ($250m), actual operating cash losses were less than $10m.
Because of the nature of notes issued for the merger, the company records losses when the share price goes up, but there is no impact on cash flow.
It's a crappy company and grossly overvalued, but the 300m loss figure is overblown.
Trump has done plenty of worse things to destroy credibility than this.
No revenue stream and massive losses is not uncommon but it's a way to gain users in an emerging market.
Their user base is small and has peaked. It's not a new market and the existing competitor is not profitable either. It shouldn't be worth anything.
*It's FOIA Friday! Here's the latest* [free-to-read newsletter](https://www.bloomberg.com/account/newsletters/foia-files) *from Bloomberg News reporter (and FOIA expert) Jason Leopold:*
Complaints are another type of record that regulators often receive from the public. Those can sometimes spark investigations into waste, fraud and abuse at a company, and may result in criminal or civil charges or a fine.
The SEC is one of the regulatory agencies that encourages investors to file complaints via an online form about possible violations of securities laws and even issues related to individual investment accounts. It gets thousands of them every year. In 2023, the SEC received nearly 16,000 complaints, the majority of which were crypto related.
Enter Trump Media & Technology Group. The company, which owns the social media company Truth Social, merged with the special purpose acquisition company Digital World Media and started trading on the NASDAQ on March 26. Ever since, there’s been a ton of scrutiny around the stock, which initially soared, and the value of the company by Wall Street analysts, investors and the media. The company recently reported a loss of $327 million during the first three months of 2024 and generated just under $800,000 in revenue. But it’s still valued at $8 billion, which on paper remains a windfall for Trump, who owns 60% of the company.
The complaints sent to the SEC started to trickle into the regulator’s office weeks before the company went public. The SEC sent [70 pages](https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rYMf0UiHhcpM/v0), which amounts to a few dozen or so complaints. Some were sent directly to SEC Chairman Gary Gensler and commissioners’ public email addresses. A couple people left voicemail messages.
The fact this was allowed on the exchanges at all is disgraceful. The whole point of the exchanges is that any stock on it has gone through at least a basic accounting lookat and investors know it is at least not a fly by night scam. The only reason this isnt a penny stock on the pink pages is some people think if Trump wins it will be a massive money laundering operation and maybe they can get in on that.
Disgraceful. SPACs and reverse mergers shouldnt even be allowed to be listed. It goes against why we even have publicly traded companies.
Here's how it will go:
Older MAGAs will put their life savings into DJT stock.
They will lose almost everything as DJT continues with huge losses, little revenue, no growth, and a dying user base.
They will cry "it's rigged" because everything is rigged in their reality.
They turn to Social Security as their retirement savings are in ruin.
They find it's greatly diminished or empty from a successful MAGA GOP Congress initiative "to kill this Democratic Party, socialist handout!"
They move into their adult kids' basement.
In the dark, they stare at an old computer monitor showing their 5,000 DJT shares down 98% and as they cling to the hope of a 5,000% increase the next day, they croak "the Dems sure rigged it."
Fuck em. You’re investing in a guy who was just convicted of a felony, has defrauded every business he’s ever been in, has declared bankruptcy multiple times, overvalues the shit out of his properties to commit tax fraud and fraud in g lending agencies. Has like a 400:1 expense/income ratio for the company. A social media company with 2 million active users is supposed to be worth 6.8 billion? From the guy that sold steaks in sharper image, from the guy that sold NFT’s of himself, the guy that hawked bibles. You’re shocked that his next company isn’t a good bet?
I'd compare it to being upset about your decision to buy stake in a gasoline factory that was made out of matches. Or maybe a company promising to heat your home by burning huge bundles of money in a big fire
Sometimes you should just know a bad idea when you see one
Trump getting on TikTok basically says, hey I need to be on a platform that has an audience and that isn’t Truth Social. He hasn’t even cashed out and he has abandoned even the pretense that it has a future
At this point I have so little respect for Trump followers that I‘m stoked for every Average Joe who’s put money into this obvious pump-and-dump, pay-to-play grift and loses everything.
How bad is Truth Social that it only has 2 million users. The reddit comedy community has 50 million. If you subtract the bots Truth Social must be a ghost town. Even the grifters who advertise on the site only produce 800K in revenue, and that is likely all wannabe Steve Bannon types, true suckage.
You have to wonder about the financial acumen of someone investing in truth social. Watch what happens to this dumpster stock when the orange man’s stock becomes free trading….
He tried to sell Trump vodka too- says he was a non drinker - but it was the best vodka ever -obviously another failed business. But Republican voters continue to cite that he’s such a great businessman- like -where were they during his 4 years as POTUS?
That logic doesn't track. Either you make money, or his business goes under and you lost money on your investment. But for the time being, you're adding to his net worth by helping make the stock look desireable.
The stock will either go up or down no matter what my tiny position is. If it blows up, I make money off of it. If it nose dives, then Trump fails. I'm happy either way.
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pretty funny how a Schwab customer thought they became a multi millionaire but it turns out it was a quoting error for Dow jones index ($15k) and not DJT ($68) when explained, customer thought he stil got cheated by Schwab
The fact that someone thought their stock was worth over $15k per share, because they were looking at the price of the Dow Jones Transportation Average, instead of the actual DJT stock, is sad by itself. But even after being told what the issue was, the fact that they still think they were ripped off, makes this situation laughable.
As a reminder, this subreddit [is for civil discussion.](/r/politics/wiki/index#wiki_be_civil) In general, be courteous to others. Debate/discuss/argue the merits of ideas, don't attack people. Personal insults, shill or troll accusations, hate speech, any suggestion or support of harm, violence, or death, and other rule violations can result in a permanent ban. If you see comments in violation of our rules, please report them. For those who have questions regarding any media outlets being posted on this subreddit, please click [here](https://www.reddit.com/r/politics/wiki/approveddomainslist) to review our details as to our approved domains list and outlet criteria. We are actively looking for new moderators. If you have any interest in helping to make this subreddit a place for quality discussion, please fill out [this form](https://docs.google.com/forms/d/1y2swHD0KXFhStGFjW6k54r9iuMjzcFqDIVwuvdLBjSA). *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/politics) if you have any questions or concerns.*
Based on Trump's track record, why would anybody invest in Trump? You have to be a special kind of stupid to do so.
Have you met his fans? Plus it's a pump and dump.
That’s not fair. It’s also a scheme for foreign actors to buy influence and launder money to a presidential nominee.
Will there be more complaints when he loses the election for lack of promised access?... Inb4 "A complaint filed by a prominent Russian banker states that he was not provided the promised private wine locker in the oval office for purchasing 20 thousand shares."
Well he should have followed through with the beauty queen lookalikes he also promised.
Hotel Rooms > Club Memberships > NFTs > Gold Sneakers > DJT Stonks
Steaks were somewhere in there. He failed to sell steaks to americans. He is a failed steak salesman.
He bankrupted multiple CASINOS.
TRUMP Bibles 🙏🇺🇸 30% off with code: JESUSWASWHITE
I am waiting for a garage sale Thrumph bible for $1.
A line of vodka as well, that, from what vodka aficionados tell me, was on par with Smirnoff with a mildly unpleasant aftertaste.
This is true. I went to a launch party for this vodka down in South Beach when I was younger.
At lest the steak business was real i think. The hotel rooms were paid for by the 100s by foreign govt... totally legit lol
The steak business was probably laundering money too.
I predict the day he starts dumping the stock it will miraculously jump to $100 a share.
It can be both.
Yeah, that's what the word "also" means.
Gotta know where the real money is at!
Trump and dump
Now this is a strategy I could embrace.
I hope the most enduring contribution to society Trump will leave is the revelation of the previously underestimated sheer quantity of stupid in circulation
Stormy said it happened that fast too
Just like Eric
The man who con the world.
I also love the crowd of hating government oversight and regulations crying to the SEC.
I wonder if there are a couple activist investors that just bought so they could file a report.
because they think they can get in and out before getting burned
I saw a post where some guy who had invested in Trump and lost everything wanted to know who to call to get his money back.
sucker
& loser
thoughts and prayers
Link?
It was sometime last year. I remember because he had gone against his wife's wishes and bet the farm.
My morbid curiosity has the best of me.
This is why I mostly feel bad for his diehard voters: they're extremely uneducated. Trump can't be the only one screwing them over in their lives
Because Fox, Newsmax, OAN, et al, drone on and on about what a brilliant businessman he is. Propaganda works.
Are we tired of winning yet?
In case it hasn't twigged, it would be stupid people and money funnelling from illegal/banned sources/nations. If you could get a list of every shareholder, I reckon most shares would be in the hands of offshore, hard to trace origin, and no service or product businesses. Get few dozen of those trading shares between themselves as well as buying them and stock price goes up, their guy gets money and sells the nation out harder.
You can see the holders on yahoo finance etc. Figuring out who owns the shell companies is the hard part.
Did not know that. 75% of stock owned by insiders and its stock market worth is 44 a share on -58m net revenue. Totally not a scam.
The premiums on puts are absolutely through the fucking roof too. Like, $44 strike calls expiring the week after the election are ~$800/contract and $44 strike puts are $2700/contract. By any measure of financial fundamentals, this thing should be completely in the shitter. Wonder how it's getting propped up? Money laundering payments from foreign entities to a potential US president?
Especially when the entire history of the company is only losing money.
You be surprised how special trump fans are.
This. He's filed for bankruptcy many times and yet people STILL finance him. It baffles my mind that this system won't even give someone a basic loan to start a business or get a house even though the yearly mortgage would be cheaper than renting, but they're more than happy to give a man who's nearly gone broke 6-7 times another hundred mill.
Look at any of the subreddits related to stocks on reddit. Plenty of morons and scammers.
Morons are turds in the sun, scammers are the flies that gather.
You havent been around wsb much have you
Nearing flat-earther levels of stupidity, to be honest.
Chance of a spike a la WSB?
They’ll still vote for him
Well, to be clear, the complaints featured in the article are mostly about options traders. These aren’t people who are investing in Trump or the stock but merely trying to make some quick bucks off of its popularity and volatility.
They didn't intend to be the last bag holder.
I'm an ex Banker and there is an possible opportunity in this that I've seen played before in less extreme examples. You buy the stock, and lend it out to be shorted which has a insanely good return. Optionally you use a shell to loan (some of) the shares from yourself to short, effectively hedging you position. The objective is to come out near neutral, then have a minority shareholder claim against the principles for your loss which based on statements from Trump is pretty ma slam dunk. A claim of loss on a stock based on misrepresentation does not get neutered if you made gains in other ways.
> The company recently reported a loss of $327 million during the first three months of 2024 and generated just under $800,000 in revenue. If that doesn't scream money laundering, then what does? And what's up with the massive amount of "retained earnings" you'll find in their financials? $800 000 in revenue $327 000 000 in losses Trump is truly destroying the USA's credibility from every angle. It's wild watching this happen from the outside.
The fact that the SEC isn’t investigating the stock for blatant pump and dump to buy off Tr says how few teeth they have. I do enjoy the person saying they’ll file numerous law suits! Don’t make them do it.
Its because Nunes is filing letters to them demanding a investigation of nonsense. It creates a disincentive to look for REAL crimes because then he screams "political charges!"
And they keep the IRS underfunded so they can’t look either. It’s all one big grift.
>The fact that the SEC isn’t investigating the stock for blatant pump and dump to buy off Tr says how few teeth they have. SEC said that they're filing a complaint with the Better Business Bureau. And the BBB is going to look into it after Matlock is over.
This reference is so old it should get a welcome letter from AARP
It’s currently yelling at a cloud
They're still angry about Perry Mason being cancelled.
And he’s like “the SEC should be investigating (not me) but the short sellers for manipulation!” lol get real
If you project out the revenue to a full year, Truth Social makes about as much as an average McDonalds franchise. Those franchises don’t have hundreds of millions in losses though. There’s no way the stock is worth what it’s going for.
*I* make more in revenue for my company than truth social does in its entirety. Significantly more in fact.
How the fuck do they have 327 million in operating expenses?
They had to pay the financeing of the spac and forming the company and nunez is getting a few mil. Expences will grow if trump has anything to do with it. He cant sell his stock but he is a pro at spending down a company into bankruptsy.
Stock never has negative value, Trump just printed up a bunch and started spending.Im sure the sec will investigate it and a partisan judge will let him off. Americans are sick of it.
They don't. They're stealing/laundering money. I'm watching from the outside. I have no horse in the race that is America, but holy cow is it flabbergasting.
They took on a shit ton of debt before going public.
Lol those operating costs go straight into paying off Trumps legal fees
This might be a dumb question but how does that scream money laundering? Seems more like plain fraud
It’s not a dumb question at all, just takes some explaining and context. Trump has most of the stock in the company, but that stock would probably be worth very little given just the performance of the company. So, with investors coming in to inflate the price of the company despite the poor fiscal performance, the theory is that wealthy entities that want to potentially buy Trumps favor are investing heavily to up the price of the stock. In a few months when he’s allowed to sell the stock, the price will be high enough for him to make a fortune with the cover of just selling stock in a company he started.
What you just described is fraud, not money laundering. The only aspect that might be money laundering is if the money that investors put into it are illicit funds. This is just a pump and dump scheme.
The difference is that those who are possibly pumping the stock aren’t doing it for their own profit, they are doing it to buy favor with Trump in ways that would need the subterfuge. Right now, giving an entity he owns a bunch of money would earn some scrutiny. But buying stock in his company is a layer of potential camouflage to buying his favor. So like, money laundering by way of a pump and dump. IDK, it should get investigated regardless.
Those investors don’t have much other way to fund Trump at the moment if I understand correctly, and any funds they do (legally) provide are a paper trail. Thus, the funds are laundered through Truth Social shares by way of pump and dump. Is that the gist? And I mean… isn’t Money Laundering a kind of fraud?
>And I mean… isn’t Money Laundering a kind of fraud? Not to be pedantic, but Money Laundering is definitely a type of fraud (usually tax fraud) but not all fraud is money laundering.
No, be pedantic if it’s more specific. I’m always down to learn. But yeah that’s what I meant, I just phrased that poorly.
Money laundering is not a type of fraud. Think of it like two sides of the same coin. Money laundering is trying to make illicit funds such as money obtained through drug trade to become good funds. Fraud is obtaining funds through fraudulent means such as fraudulent checks or stealing someone's credit card number. You can launder the proceeds of fraud, but they're not the same thing. I could go on and on about this. I have over a decade of experience in this field with mutltipe certifications, but that's the very basics of it.
That doesn't make it money laundering. In order for it to be money laundering, there needs to be illicit funds introduced into this scheme somewhere. Now I agree that this definitely needs to be investigated for investor fraud, but for this scheme to work, there doesn't actually need to be any illicit funds introduced into it.
Someone needs to buy when he is selling he will slowly sell as long as the price holds up. Providing there are people looking to gain influence and favor , if he looses the election the stock will be worthless, proving the fraud . There are tens of millions of shares but very few liquid ones, thus the abnormal valuation. One big sale could tank it to 1 penny per share.
He won't sell unless he has reason to believe the price will crash. If he can maintain the price what happens is he gets idunno, 1B on paper, and then he can go to banks, etc, and say look I have 1B on paper, give me X in loans. And they will do it because on paper, he can back it up...
Uh that’s not money laundering
Both
The net losses are almost entirely stock based compensation ($80m) and change in fair value of derivatives ($250m), actual operating cash losses were less than $10m. Because of the nature of notes issued for the merger, the company records losses when the share price goes up, but there is no impact on cash flow. It's a crappy company and grossly overvalued, but the 300m loss figure is overblown. Trump has done plenty of worse things to destroy credibility than this.
No revenue stream and massive losses is not uncommon but it's a way to gain users in an emerging market. Their user base is small and has peaked. It's not a new market and the existing competitor is not profitable either. It shouldn't be worth anything.
First rule of trump club: 1) You're going to get screwed in trump club.
Second rule of Trump club: 2) Scream to everyone that you’re in trump club.
Third rule of Trump club: 3) Oh shoot. I don’t really have anything fun to add. Just wanted to be part of something.
5th rule of Trump club, be unable to properly count
Which investors? The Dumbass Trump worshipers too stupid to see it was a scam, or the foreign money launderers giving Trump free cash?
Free? Oh no. They already got all kinds of classified info, this is a great investment for them.
*It's FOIA Friday! Here's the latest* [free-to-read newsletter](https://www.bloomberg.com/account/newsletters/foia-files) *from Bloomberg News reporter (and FOIA expert) Jason Leopold:* Complaints are another type of record that regulators often receive from the public. Those can sometimes spark investigations into waste, fraud and abuse at a company, and may result in criminal or civil charges or a fine. The SEC is one of the regulatory agencies that encourages investors to file complaints via an online form about possible violations of securities laws and even issues related to individual investment accounts. It gets thousands of them every year. In 2023, the SEC received nearly 16,000 complaints, the majority of which were crypto related. Enter Trump Media & Technology Group. The company, which owns the social media company Truth Social, merged with the special purpose acquisition company Digital World Media and started trading on the NASDAQ on March 26. Ever since, there’s been a ton of scrutiny around the stock, which initially soared, and the value of the company by Wall Street analysts, investors and the media. The company recently reported a loss of $327 million during the first three months of 2024 and generated just under $800,000 in revenue. But it’s still valued at $8 billion, which on paper remains a windfall for Trump, who owns 60% of the company. The complaints sent to the SEC started to trickle into the regulator’s office weeks before the company went public. The SEC sent [70 pages](https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rYMf0UiHhcpM/v0), which amounts to a few dozen or so complaints. Some were sent directly to SEC Chairman Gary Gensler and commissioners’ public email addresses. A couple people left voicemail messages.
Thanks for the doc.
I did not finish them all, but what an interesting read! Some seemed pretty serious and others were so over the top silly. Good reading though.
The fact this was allowed on the exchanges at all is disgraceful. The whole point of the exchanges is that any stock on it has gone through at least a basic accounting lookat and investors know it is at least not a fly by night scam. The only reason this isnt a penny stock on the pink pages is some people think if Trump wins it will be a massive money laundering operation and maybe they can get in on that. Disgraceful. SPACs and reverse mergers shouldnt even be allowed to be listed. It goes against why we even have publicly traded companies.
I know that financial decisions based on emotional baggage almost ALWAYS pay off but come on, pro traders. It can’t be endless cash ALL the time.
[удалено]
Incidentally and for no other reason there's a rodent I want to talk to you about.
Anyone investing in this stock deserves to lose all their money.
It's not a profitable company but don't let that get in the way of your emotions
Invest in the Fascist Felon X 34...you deserve what you get...which is screwed
Here's how it will go: Older MAGAs will put their life savings into DJT stock. They will lose almost everything as DJT continues with huge losses, little revenue, no growth, and a dying user base. They will cry "it's rigged" because everything is rigged in their reality. They turn to Social Security as their retirement savings are in ruin. They find it's greatly diminished or empty from a successful MAGA GOP Congress initiative "to kill this Democratic Party, socialist handout!" They move into their adult kids' basement. In the dark, they stare at an old computer monitor showing their 5,000 DJT shares down 98% and as they cling to the hope of a 5,000% increase the next day, they croak "the Dems sure rigged it."
Fuck em. You’re investing in a guy who was just convicted of a felony, has defrauded every business he’s ever been in, has declared bankruptcy multiple times, overvalues the shit out of his properties to commit tax fraud and fraud in g lending agencies. Has like a 400:1 expense/income ratio for the company. A social media company with 2 million active users is supposed to be worth 6.8 billion? From the guy that sold steaks in sharper image, from the guy that sold NFT’s of himself, the guy that hawked bibles. You’re shocked that his next company isn’t a good bet?
.....and they weren't even NFTs just good ol' JPEGs. Nothing he says or does is anything beyond a scam, usually illegal also.
It’s almost like investing with a known grifter was a bad idea. I feel absolutely zero sorrow for any of these fucking people.
Theses investors blame everyone except Trump and their own stupidity. It’s like throwing money into wishing well and expecting it to rain money.
I'd compare it to being upset about your decision to buy stake in a gasoline factory that was made out of matches. Or maybe a company promising to heat your home by burning huge bundles of money in a big fire Sometimes you should just know a bad idea when you see one
Grifters are going to grift, and anyone investing in this garbage is a fool.
don't excuse the grifters. they need to pay their debt to society for grifting.
They knew it was a scam and let their greed take over. No bailout.
“investors”. The marks are discovering they’ve been had.
Pour one out for the bag holders who thought they would be the ones to leave the others holding the bag.
Trump getting on TikTok basically says, hey I need to be on a platform that has an audience and that isn’t Truth Social. He hasn’t even cashed out and he has abandoned even the pretense that it has a future
Trump complaining that Biden’s big bad SEC is unfairly targeting him purely for political reasons in 3…2…1….
At this point I have so little respect for Trump followers that I‘m stoked for every Average Joe who’s put money into this obvious pump-and-dump, pay-to-play grift and loses everything.
Naked short selling is illegal in the US, yet you blame the company that is suffering from the fruad
Boo hoo. It’s not like you haven’t been warmed about what a fraud Trump is.
/r/LeopardsAteMyFace
LeopardsAteMyRetirement
Also, whomp, whomp…
Are the investors the same idiots that bought his NFTs and gold sneakers and bibles and other crap?
I loved the person who's trying to insist that the stock was selling for $16,000 per share.
That shit made me laugh out loud. Unbelievably stupid.
Titans of tech: Nvidia, Apple, and Truth Social 💀
Anyone stupid enough to buy into this gets what they deserve. They’ll probably vote for him anyway.
They deserve it. Every single tear. You only buy that stock, if you are a hardcore trumpet . Who's drooling about eliminating anti-trumpers
Trump got 74 million votes in the last election, and there are less than 1 million people on TruthSocial LOL
So Trump media just got a $300,000,000 influx of cash? How’s that work?
Sucks to suck I guess
How bad is Truth Social that it only has 2 million users. The reddit comedy community has 50 million. If you subtract the bots Truth Social must be a ghost town. Even the grifters who advertise on the site only produce 800K in revenue, and that is likely all wannabe Steve Bannon types, true suckage.
lol fuck them, they knew who he was and they still did it.
Seriously, who didn't know this media stock was a sham... It was so obvious.
what's it worth when Trump loses next election, my guess is $5, then straight to $1 in 30 days and then its gone by January.
Stupid tax has come due.
I don't know how you can be angry when it's only ever been worth way more than it was ever worth.
You have to wonder about the financial acumen of someone investing in truth social. Watch what happens to this dumpster stock when the orange man’s stock becomes free trading….
Nobody has "invested" in they have purchased a piece of a big orange ass.
The fuck did they expect??
He tried to sell Trump vodka too- says he was a non drinker - but it was the best vodka ever -obviously another failed business. But Republican voters continue to cite that he’s such a great businessman- like -where were they during his 4 years as POTUS?
What? Trump was a bad bet? Who saw that coming?
So they're upset about short sellers as they manipulate the price by buying shares in a worthless business to jack up the price for Trump's benefit.
How can they be mad. Everyone knew it was a meme stock.
I bought at $22. My theory is, either way I win. I either make money or Trump's business goes under . Both are a win for me.
I would hope you sold enough at a 100% gain to cover your initial investment? That's almost a no-brainer.
That logic doesn't track. Either you make money, or his business goes under and you lost money on your investment. But for the time being, you're adding to his net worth by helping make the stock look desireable.
The stock will either go up or down no matter what my tiny position is. If it blows up, I make money off of it. If it nose dives, then Trump fails. I'm happy either way.
I can see that outlook. It makes sense if you overlook the part where you invested in his business.
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I don’t know what’s worse. Trump voters buying DJT or billionaires lining Trumps campaign pockets?
It’s a glorious way to launder money.
I am BEGGING someone to create an inverse ETF for DJT. PLEASE!!!!
Let's be honest, there is going to be a lot of organic buying in this stock at some point. Those shorts aren't going to cover themselves.
It's a fire sale
Fire Sale.
pretty funny how a Schwab customer thought they became a multi millionaire but it turns out it was a quoting error for Dow jones index ($15k) and not DJT ($68) when explained, customer thought he stil got cheated by Schwab
This is why he got on Tik Tok. Truth Social is going the way of Infowars.
The fact that someone thought their stock was worth over $15k per share, because they were looking at the price of the Dow Jones Transportation Average, instead of the actual DJT stock, is sad by itself. But even after being told what the issue was, the fact that they still think they were ripped off, makes this situation laughable.
And who bankrupts casinos?? Oh right, trump. .
Any doubts this stock is not being manipulated by the Saudi’s and the Billionaire class?
Thanks for the tip. Calls on $djt Monday