Trump Media & Technology Group, the owner of struggling social media platform Truth Social, is began its long-delayed journey as a public company at Tuesday’s opening bell under the ticker symbol “DJT.”
The stock surged about 56% at the open, to $78, and trading was briefly halted for volatility. Trump Media shares have since stabilized at around $70, marking a 40% increase from Monday’s close.
Wall Street is assigning Trump Media an eye-popping valuation of around $13 billion — a price tag that experts warn is untethered to reality.
The skyrocketing share price comes despite the fact that Trump Media is burning through cash; piling up losses; and its main product, Truth Social, is losing users.
“This is a very unusual situation. The stock is pretty much divorced from fundamentals,” said Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business, who has been studying initial public offerings (IPOs) for over 40 years.
“I’ll settle my debts when I get to the White House.”
Solid gamble for investors, honestly. Like, extremely good. If I was a subhuman parasitic dickworm or something, I’d put at least half my chips on red.
And seriously, look what we’re doing. While we are talking about how he is going to repay his debts for [insert crooked fucking shit and prostitutes pissing on Trumps face here], we are not talking about how the FUCK a guy with his record is even allowed to run for president.
Just moving the goalposts, one investor at a time. Everyone knows this hog will get slaughtered sooner or later, and they are sucking its tiny teats for as much daddy milk they can before it dries up.
Then it’s MTG’s turn to be led to the top of the Aztec pyramid and control the world for a few years before she goes soccer mom tits up.