Trump Media & Technology Group Corp. NasdaqGM: DJT

[Dan]

https://finance.yahoo.com/quote/DJT

[Jw2]

Trump Media & Technology Group Corp
$41.54 USD
+3.05 (7.92%)today
Closed: Apr 26, 7:59 PM EDT

[Jw2]

How a Pirate-Clad Pastor Helped Ignite Trump Media’s Market Frenzy

One afternoon last month, Chad Nedohin, a part-time pastor and die-hard supporter of Donald Trump, put on a pirate costume, set up his microphone and recited a prayer.

Nedohin was opening his latest livestream on the right-wing video site Rumble, where he has about 1,400 followers who share a devotion to Trump Media & Technology Group, the former president’s social media company.

“Faith comes from hearing — that is, hearing the good news about Christ,” said Nedohin, 40, his face framed by fake dreadlocks under a pirate-style hat.

Nedohin and his viewers were waiting for the results of a merger vote that would determine whether Trump’s company could start selling stock on Wall Street. Soon the news about Trump Media arrived via an audio feed: It was going public.

Nedohin raised his arms in celebration. A few minutes later, he cut to a video of a rocket blasting into the sky, with Trump photoshopped onto it. “We are holding Trump stocks,” he declared. “We are now financial investors in him.”

Nedohin is one of hundreds of thousands of amateur investors who own shares of Trump Media, convinced that its sole platform, Truth Social, will become one of the world’s most popular and profitable social media sites. In recent months, tens of thousands of Trump fans have tuned into Nedohin’s webcasts, where he exhorts viewers to invest in the company, arguing that “Trump always wins in the long run.”

The enthusiasm from Nedohin and other Trump supporters has turned Trump Media into the latest “meme stock,” driven more by internet hype than business fundamentals. In the public markets, these amateur investors have found themselves pitted against professional short sellers, specialist investors who bet that stocks will fail, as well as frantic day traders looking for a quick profit.

As a result, Trump Media’s stock price has swung wildly, sometimes dropping as much as 18% or rising as much as 28% in a single day. The company is “a meme stock on steroids,” one analyst recently wrote.

[Dan]

Because of some guy wearing a pirate costume? 

[Truman62]

Yeah, THAT is how crazy you guys are!

How does it feel to be part of the Crazy Group, Alaskan Denial Yeti?

oh wait, you'll deny it...

[Dan]

Alaskan Denial Yeti says what?

[Jw2]

Trump Media & Technology Group Corp
$46.69 USD
+5.15 (+12.40%) today

Truth Social Stock Warning Issued by Analyst

Apr 29, 2024

An investment management consultant has suggested that those who have shares in Donald Trump's social media platform should sell them.

Writing for Forbes, John S. Tobey, who has worked in the investment industry for more than 30 years, said that while the value of the stock may increase, investors may risk losing out if the shares devalue further.

But since shareholders of Digital World Acquisition Corp., an existing shell company, agreed to merge with TMTG earlier this year—clearing the way for the former president's company to go public—its stock value has declined.

When the merged group debuted on the stock market on March 26, under the ticker DJT, shares initially surged above $78, closing its first day of trading at $57.99 and giving the company a valuation of $11 billion. The value of each share in the merged group reached $71.90 on March 27, before its profit and loss figures were released.

[Jw2]

Trump Media & Technology Group Corp
$45.13 USD
−4.80 (-9.61%) today
Closed: May 1, 8:00 PM EDT


Trump Media shares collapsed, rallied, and are collapsing again. No one knows why.

https://www.businessinsider.com/trump-media-collapse-rally-meme-stock-djt-2024-5

So how do we explain that over the course of the past two weeks, Trump Media shares had doubled again? Or that after that bull run, the shares are collapsing again on Wednesday?

People get paid to explain this stuff, even if they don't really know, so they're trying: Maybe Trump's criminal trial is good for Truth Social since it draws attention to the fact that he posts on it a lot? Or maybe the shares went up because of the company's cynical campaign to blame the stock drop on evil stock manipulators who are shorting the stock — even though Trump Media shares are difficult and expensive to short?

It's kind of exhausting, really. Which is why people are barely trying to explain the most recent collapse: CNBC notes that the company just disclosed that Trump himself will get more Trump shares, but … eh. That doesn't even count as a half-hearted explanation.

OK. My turn. Here is the reason that Trump shares collapse, or rally, or collapse again: There is no underlying reason.

[WWV10MHZ]

[Dan]

How come you didn’t report yesterday’s performance, John Walsh?

[Jw2]

yesterday's performance, dan?  why should I?  How many shares of DJT do you own?



Trump Media Stock (DJT) At Risk Of A New Short Selling Plunge

https://www.forbes.com/sites/johntobey/2024/05/01/trump-media-stock-djt-at-risk-of-a-new-short-selling-plunge/?sh=203ee1d151dc

The Trump Media anti-short selling campaign has unwittingly played into short sellers' hands. After short sellers "covered" their shorts (i.e., bought shares) in the $20s, they have been biding their time, waiting for false claims of victory. It looks like that time is here, and the short sellers are stepping in again.

An apparent, perfectly-timed contrarian indicator: Barron's (May 1, 6:16 AM): "DJT Stock Is Still Climbing. Trump Media’s Short Selling Campaign May Be Working"

https://www.barrons.com/articles/djt-stock-price-today-trump-97188873

Trump Media’s anti-short selling campaign is twofold: (1) Publicly malign short sellers and (2) Tell Nasdaq and Congress to do something. The stock's quick rise from the low $20s to about $50 yesterday gave an appearance of success.

However, the campaign and the stock rise have actually set up Trump Media investors to experience and learn this basic truth: Both long buyers and short sellers help ensure proper pricing.

Blaming short sellers for taking down a fundamentally weak stock is a lost cause. Defaming short sellers has been tried many times in the past, but to no avail. Short sellers are not bad actors. They provide a check on overoptimism and overvaluations. Their investment goal is simply the flip side of long (buy) investors: "sell high, buy low." Therefore, they provide Wall Street and the capital markets with vital pricing reality.

[Dan]

yesterday's performance, Dan?  why should I?

To avoid looking like a left-wing hack, ignoring days when the stock is up, like April 30th, when DJT was Up 7%, John Walsh.

How many shares of DJT do you own?

Zero.  You?