The wild probe into investors of DWAC, Trump Media’s proposed merger ally. The Truth about Truth Social

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Fenixgoon

Fenixgoon

Lifer
Jun 30, 2003
31,631
10,061
136
esquared said:
These idiots that have invested in truth social are now saying the left/media/Boogeyman, is behind the drop in stock price.

"He suspects the recent drops in share price have been the result of “stock manipulation” from an “organized effort” to make the company look bad. There’s no proof of such a campaign, but Schlanger is convinced. “It’s got to be political,” he said, from all the “liberals that are trying to knock it down.”

Small-time investors in Trump’s Truth Social reckon with stock collapse​


www.yahoo.com

Small-time investors in Trump’s Truth Social reckon with stock collapse

Jerry Dean McLain first bet on former president Donald Trump’s Truth Social two years ago, buying into the Trump company’s planned merger partner, Digital World Acquisition, at $90 a share. Over time, as the price changed, he kept buying, amassing hundreds of shares for $25,000 - pretty much his...
www.yahoo.com www.yahoo.com

You just cannot fix stupid.

A few more complainers:
"The user @manofpeace123, who said they bought shares at $65 and that 71 percent of their portfolio was DJT stock, said on Wednesday that investing was a way of telling Trump, “I believe in you and I stand with you through good times and bad.” But a day later, the user added: “can’t help but feel sad. … feel like I’m trying to catch a falling knife.”

Another account, @realJaneBLONDE, posted on Sunday that she was “NOT panicked NOT worried” before, two days later, posting a message to Trump and congressional Republicans urging them to make it “illegal” to bet against or short-sell stocks.

“Sick of MY investment money being stolen!!” she wrote. “They’re stealing peoples money and you’re allowing it!!”

"McLain is an amateur trader - he invested only once before and “lost [his] butt” - and said he hasn’t talked to his family about his investment, saying, “You know how that is.” But he believes the Trump Media deal is a sign he is “supposed to invest,” he said."
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someone should tell them to find some boostraps, because surely everyone can pick themselves up, right?
 
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T

tweaker2

Lifer
Aug 5, 2000
14,555
7,000
136
Fanatical Meat said:
He’s not going to jail. Our legal system, current justice department and leadership simply aren’t up to the task.
At BEST there will be some kind of “deal” where the former President is told to shut the fuck up about everything or this giant clear cut charge is going to be put upon him.
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It's been a fond dream of mine though. I've also imagined him being cooped up in rehab or some kind of intervention session where Hillary Clinton, Jon Taffer (Bar Rescue) Oprah, Al Sharpton and Gordon Ramsay are his institutional interlocuters <-----(tormentors).
 
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HomerJS

HomerJS

Lifer
Feb 6, 2002
36,089
27,836
136
Fanatical Meat said:
He’s not going to jail. Our legal system, current justice department and leadership simply aren’t up to the task.
At BEST there will be some kind of “deal” where the former President is told to shut the fuck up about everything or this giant clear cut charge is going to be put upon him.
Click to expand...
Not so sure about that in NY
 
allisolm

allisolm

Elite Member
Administrator
Jan 2, 2001
24,988
4,330
136
"Overall, shareholders have lost $7.2 billion in value since the stock touched a high of $79.38 on March 26. The shares tumbled $6.01, or 18.4%, to $26.58 in Monday afternoon trading."

That's a loss of about 67% in 3 weeks. Keep it up - or should I say down.


www.cbsnews.com

Trump Media plunges amid plan to issue more shares. It's lost $7 billion in value since its peak.

The former president's media company has had a rough start on Wall Street, shedding two-thirds of its value since its peak.
www.cbsnews.com www.cbsnews.com
 
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manly

Lifer
Jan 25, 2000
11,093
2,200
126
Fenixgoon said:
Now who will "invest" when it starts to bottom out? Cause surely no one in their right mind thinks it's going anywhere...right?
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DJT got 74M votes in 2020. Although many of those aren't "investors," there's a virtually unlimited supply of people willing to be grifted by the former president.
 
F

fskimospy

Elite Member
Mar 10, 2006
84,166
48,264
136
manly said:
DJT got 74M votes in 2020. Although many of those aren't "investors," there's a virtually unlimited supply of people willing to be grifted by the former president.
Click to expand...
Considering the tanking stock price that seems not to be true.
 
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manly

Lifer
Jan 25, 2000
11,093
2,200
126
fskimospy said:
Considering the tanking stock price that seems not to be true.
Click to expand...
The stock price is tanking because it's still grossly overvalued, not because small MAGA investors are realizing their losses and getting out before it's too late.
Even now, the P/S ratio is about 1000? With TMTG further trying to dilute shares, how is this not eventually going to be a penny stock based on fundamentals? But along the way, some other "investors" will try to catch a falling knife.

As for the supply of people willing be be grifted by Trump, we both know they're still there (I was exaggerating by calling it virtually unlimited). If they're not losing their shirts on DJT stock, some will still be contributing small amounts to his campaign (aka legal defense), or buying his $400 sneakers. @esquared quoted some of them in this thread yesterday.
 
F

fskimospy

Elite Member
Mar 10, 2006
84,166
48,264
136
manly said:
The stock price is tanking because it's still grossly overvalued, not because small MAGA investors are realizing their losses and getting out before it's too late.
Even now, the P/S ratio is about 1000? With TMTG further trying to dilute shares, how is this not eventually going to be a penny stock based on fundamentals? But along the way, some other "investors" will try to catch a falling knife.

As for the supply of people willing be be grifted by Trump, we both know they're still there (I was exaggerating by calling it virtually unlimited). If they're not losing their shirts on DJT stock, some will still be contributing small amounts to his campaign (aka legal defense), or buying his $400 sneakers. @esquared quoted some of them in this thread yesterday.
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What’s weird to me, and what I think will come out later, is this is such an obvious scam something else is going on.

This is a total failure of a business and everyone knew it before the IPO. Something else is going on.
 
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manly

Lifer
Jan 25, 2000
11,093
2,200
126
fskimospy said:
What’s weird to me, and what I think will come out later, is this is such an obvious scam something else is going on.

This is a total failure of a business and everyone knew it before the IPO. Something else is going on.
Click to expand...
No doubt, and there's already enough smoke here to suggest a fire.

But SPACs enable this sort of thing, as we've seen over the past few years. Anytime you hear SPAC, you just have to assume it's at the very least a scheme. It must should exist, but I can't think of a SPAC that wasn't shady.

Earlier I was going to mention MoviePass, which was the subscription service where you could watch unlimited films at the cinema for $10/month. That itself wasn't the grift; but the corporate owners kept pumping new shares into the market long after the business was an obvious failure. Billions were lost by investors, and this was well before the meme stock era of the pandemic and its absurdities.
 
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uallas5

uallas5

Golden Member
Jun 3, 2005
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Amused

Amused

Elite Member
Apr 14, 2001
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