Donald Trump launching new (ANOTHER?) social media platform

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FelixDeCat

Lifer
Aug 4, 2000
27,550
992
126
The stock was up nearly 600% today. I was completely shocked.

They currently do not have a functioning business, yet its trading SPAC is worth $2 billion as of this evening.

Being that this site will be likely be very inflammatory I wonder how they intend to get sponsors? I do not see a middle of the road, non political company wanting to advertise there.
 

MtnMan

Diamond Member
Jul 27, 2004
7,521
5,787
136
It will probably be Hacked before they put it up. Let him waste his money.
His money? He probably doesn't have a dime of his dwindling wealth invested. Using donors suckers money and stiffing developers, just his normal business practices.
 

ponyo

Lifer
Feb 14, 2002
19,687
2,794
126
For some reason, I'm not surprised that Trump would be involved in a blatant pump and dump with insider trading.
Someone yesterday purchased around 730,000 shares of DWAC warrant for around 52 cents each. That's not normal and doesn't happen. If you know anything about SPAC warrants, volume is usually tiny and super illiquid. So that person or organization spent around $380,000 buying 730,000 warrants. The warrants are now worth $21 each and that person just made $15 million in single day with only $380k. Nice illegal work if you can get it.

Trump friends probably bought the common as it's whole lot more liquid and harder to prove insider trading on that position. Almost 500 million shares were traded on the commons. Crazy volume. That shows you the power of the Trump brand and how much of a game this market is. This is free money deal for Trump and his friends. They don't care about the actual site.
 

MtnMan

Diamond Member
Jul 27, 2004
7,521
5,787
136
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ponyo

Lifer
Feb 14, 2002
19,687
2,794
126
I know Trump likes to be the biggest or best at anything. Well, this SPAC had the largest first day gain of any previous SPAC ever. Record first day gain. I don't know if this record gain will be topped anytime soon.
 

fskimospy

Elite Member
Mar 10, 2006
76,531
32,031
136
Lol, apparently from what I’m reading so many people rushed in to short this stock because, well, duh, that they ended up squeezing themselves. That’s pretty funny.
 
  • Haha
Reactions: feralkid

FelixDeCat

Lifer
Aug 4, 2000
27,550
992
126
And now the stock is up another 100% this morning from $45 to $90, following yesterday's 350% gain.

Hard to say what it does next.
 
  • Haha
Reactions: KMFJD

fskimospy

Elite Member
Mar 10, 2006
76,531
32,031
136
And now the stock is up another 100% this morning from $45 to $90, following yesterday's 350% gain.

Hard to say what it does next.
Well it looks like they are about to be sued for ripping off the source code for the site in violation of the license agreement for it.

Laughable business plan aside, if anyone is dumb enough to invest in this you should look into the last and only time Trump was in charge of a public company. He stole the investors’ money, of course.

https://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.amp.html?referringSource=articleShare
 

Zorba

Lifer
Oct 22, 1999
12,116
6,714
136
Every nutball conspiracy theory or extremist site or group uses the word "truth" or some variation of it. If they are using any variation of "truth" in their name, they aren't telling any of it.
Don't forget evangelicals use the "Truth" moniker all the time. 1-888-4-THE-TRUTH.
 

Zorba

Lifer
Oct 22, 1999
12,116
6,714
136
Someone yesterday purchased around 730,000 shares of DWAC warrant for around 52 cents each. That's not normal and doesn't happen. If you know anything about SPAC warrants, volume is usually tiny and super illiquid. So that person or organization spent around $380,000 buying 730,000 warrants. The warrants are now worth $21 each and that person just made $15 million in single day with only $380k. Nice illegal work if you can get it.

Trump friends probably bought the common as it's whole lot more liquid and harder to prove insider trading on that position. Almost 500 million shares were traded on the commons. Crazy volume. That shows you the power of the Trump brand and how much of a game this market is. This is free money deal for Trump and his friends. They don't care about the actual site.
I agree with you there SEC has been basically worthless for decades, but I really hope they don't ignore this obvious insider trading.
 

HomerJS

Lifer
Feb 6, 2002
30,771
18,418
136
The stock was up nearly 600% today. I was completely shocked.

They currently do not have a functioning business, yet its trading SPAC is worth $2 billion as of this evening.

Being that this site will be likely be very inflammatory I wonder how they intend to get sponsors? I do not see a middle of the road, non political company wanting to advertise there.
Still don't recognize yet another grift when you see it? Don't remember the pattern?
 
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cytg111

Lifer
Mar 17, 2008
19,395
8,752
136
Gold for the anti democracy war chest. Toppling the experiment isnt cheap you know.
 

hal2kilo

Lifer
Feb 24, 2009
20,198
6,889
136

Amol S.

Golden Member
Mar 14, 2015
1,986
507
136
More, you can't make this stuff up.

Did Trump’s Media Company Really Just Trademark the Term “Truthing”? – Mother Jones

Collins also filed applications for several other words or phrases that suggest a creative reimagining of the concept of truth, including “Truthing“; “Retruth“; and “Post A Truth.” All of the applications state that the words will be used in connection with online selling, website hosting, and social media platforms.
Who gives a fuck, use those words any way you like. Even if they sue, you can counter sue for a profit, and easily win. Just make sure you do the actions in the state of California or New York.
 

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