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Trump tried to defraud his truth social business partners

Oh, sorry, I see someone else made the same point upthread. I just began reading this thread.
 
Axulus said:
Donald Trump has sued two co-founders of his newly public Trump Media & Technology Group Corp., claiming they set the company up improperly and shouldn’t get any stock in it...The judge said he was “gobsmacked” to learn of Trump’s Florida suit — which he filed instead of bringing counterclaims against the two in Glasscock’s own courtroom — and would consider possible sanctions against the former president in the Delaware case.
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https://finance.yahoo.com/news/trump-sues-co-founders-truth-190328312.html

🤣
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I mean, yes, it is hilarious, but he's still right now in a position to be engorged with wealth from this stock deal with a shell of a shell company. With any luck, he can enter into these suits in such a manner to freeze his own shares, not allowing him to sell before they run out of cash. It appears they don't have much,.
 
Jimmy Higgins said:
My largest surprise isn't the revenue, it isn't the loss. It was the loss was generally debt driven.
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Surprising? I thought borrowing from suckers and letting businesses go bankrupt was key to his business model. Who did he find stupid enough to lend him money this time? Or was it, as usual, the Putin crime family, happy to lose several million if it puts the Malignant Narcissist deeper in their pocket?

Elixir said:
starwater said:
So MAGAS cashed out their retirement plans to invest in Donnie's media company to get rich. :rofl:
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They shoulda just sent him the money. Now it's going to be worth a fraction of that value. Boo hoo.
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:hysterical:

Elixir said:
Jimmy Higgins said:
That'd require $148 million in debt at 25% interest ($370 million at 10% interest). How is that possible?
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Remember back in the day, when he declared a $900m loss one year, and didn't pay ANY taxes for like, a decade? . . .
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The IRS publishes stats -- WITHOUT identifying names or numbers -- of income brackets as reported on Forms 1040. Because of forced disclosures it is now known that the #1, #2, #3, #4 records (and #5 - #7 IIRC) for largest NEGATIVE annual income are all held by the same man: Fuckface Von Clownstick
 
Trump Media is ‘a scam’ and people buying its stock are ‘dopes,’ Barry Diller says
Now is that any way to talk about savvy investors?
“I mean, it’s ridiculous,” Diller said on CNBC’s “Squawk Box” when asked about Trump Media. “The company has no revenue.”
“It’s a scam, just like everything he’s ever been involved in is some sort of con,” he said of Trump.
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That gives the company a whopping $6.4 billion market capitalization despite the fact it had just $4.1 million in revenue last year
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And just who the hell are you, Barry Diller?
 
Shares are at $32.41 or so now. Which is still 1000 times more than they are actually worth as a penny stock. But still less than 50% it was when it first ballooned upon being released into the wild.

The funny thing about DJT is he can't actually lie about it now (well, most can't, maybe he can) without pissing off the SEC.
 
Jimmy Higgins said:
Shares are at $32.41 or so now. Which is still 1000 times more than they are actually worth as a penny stock. But still less than 50% it was when it first ballooned upon being released into the wild.

The funny thing about DJT is he can't actually lie about it now (well, most can't, maybe he can) without pissing off the SEC.
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He either wins and makes it all go away or loses and spends the rest of his life in jail. There isn't really anything in between these outcomes, it barely matters what wrongs he does.
 
Some quotes from cult members who’ve invested in this scam:

“I know good and well it’s in Trump’s hands, and he’s got plans,” he said. “I have no doubt it’s going to explode sometime.”

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.

“this stock is not for the weak,” but that one day they would triumph over critics who were “brainwashed beyond repair.”

a 2021 blog post from the investing forum Seeking Alpha saying Truth Social could be worth $1 trillion in the next 10 years.

“ The deep state is making their run at Trump … and us.”

“This isn’t just another stock to me. … I feel like it was God Almighty that put it in my lap,”

 
Loren Pechtel said:
He either wins and makes it all go away or loses and spends the rest of his life in jail. There isn't really anything in between these outcomes, it barely matters what wrongs he does.
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Zackly. ‘Cept he will probably end up in some highlife version of home confinement, still running his mouth if not a major political faction.
 
Another day, down another 10%... so far. Of course, it could be $80 at the end of the day because he names Elon Musk the VP candidate.
 
I didn't realize that today's drop was because the idiots running the company seem to think that diluting their shares is a good idea.
article said:
The company’s intent to issue more common stock was made public Monday morning in a “preliminary prospectus” filed to the Securities and Exchange Commission. The shares cannot be issued until a registration statement with the SEC goes into effect.

The filing describes a plan to offer more than 21.4 million shares of common stock, issuable “upon the exercise of warrants,” the filing shows. Stock warrants give their holder the ability to buy shares at a predetermined price within a certain time frame.
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At it's current value, that'd raise nearly $1 billion in immediately accessible cash... to be used as personably desired by the board, and then Devin Nunes goes to prison.

Shares are currently down 16% to $27 a share, which is roughly 10000% more than it should be. I'm uncertain if the SEC can tell them to put a plug in it. This is pump and dump on steroids!
 
What I want to buy stock in is the company that gets the franchise to sell individual stock certificates, in dime store frames, for $99 each.
Disney made a ton of money doing that.
Tom
 
Down another 5% in after hours, but still worth a lot more than the company is worth.
 
Jimmy Higgins said:
Down another 5% in after hours, but still worth a lot more than the company is worth.
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Just checked … the premiums for short selling DJT are now down to about 125% after peaking at a whopping 550%. Most of the shares are already “borrowed” by short sellers so the cost will go right back up when he loses the election, barring a coup.
 
Elixir said:
Jimmy Higgins said:
Down another 5% in after hours, but still worth a lot more than the company is worth.
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Just checked … the premiums for short selling DJT are now down to about 125% after peaking at a whopping 550%. Most of the shares are already “borrowed” by short sellers so the cost will go right back up when he loses the election, barring a coup.
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I never thought of that, yeah, that would be limiting short selling.
 
Already down another 8%. If it breaks through 20, will the short sellers cash in, or will the institutions bail?

I need to make more popcorn.
 
hurtinbuckaroo said:
Already down another 8%. If it breaks through 20, will the short sellers cash in, or will the institutions bail?

I need to make more popcorn.
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I doubt there’s a trigger threshold. It will break through 10, and there will still be a line for people trying to buy puts. Because it WILL end up as a literal penny stock unless Trump’s benefactors want to blow a huge wad to prop it up.
 
Down 15% now for the day. At $22, it is $7 above the wait and hold zone while a shell company.

There was an aggregated volume of 118 million shares during its initial rise. Another 45 million shares when it popped back down to the $50 range. Relatively high volume during this run.

About 40 million shares between then and yesterday in its collapse to mid $20 status. The volume has been generally 5 million or so. A little higher yesterday when DJT announced plans to fuck their investors. With so few shares available, I ponder just how much lower it can go. At $20 a share, Trump still has a great deal of alleged equity, but until Musk, he didn't have share values in the hundreds to afford a massive sell off at shareholder expense.

If it dropped below $15, then that'd imply a lot of people are cutting their losses and it could be the end of the stock on the NASDAQ. What is the record for quickest delisting?
 
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