Unfortunate but True

[Tiny]

I read that insiders, including Trump, will have their shares registered with the SEC. They’ll be able to sell whenever they want. Without registration each insider with restricted shares would be limited to selling 1% of the total issued shares every 3 months under Rule 144. After registration, and after the 6 month lockup period expires they can sell as much as they want. I haven’t been following this company, but fear that Trump will dump shares in the not too distant future may explain why the shares took a dive yesterday. Apparently most SPAC’s register insiders’ shares after their mergers, so this wasn’t unexpected, but maybe faced with a dose of reality people sold.

https://www.reuters.com/technology/t...ck-2024-04-15/

You can lose your investment if you own the shares. You can lose multiples of the amount you initially invest if you short the shares. Please exercise caution gentlemen, and don’t risk more than you can afford to lose.

[eyecu2]

It's like throwing a penny off the empire state building. Freefall till that final stop at the end. I hope those long term holders are ready to kiss a load of money away! I'm not sure where this will stop but it looks like a stock in a death spiral- No income to substantiate the value- and bleeding money. (Of course, -they said the same thing about Amazon back in the 90's. ) -Joe Kernen and David Faber said that back in day))

What's surprising to me is how DWAC is still going on. It's had some good increases lately- time to short that fucker too.

[Tiny]

Originally Posted by eyecu2

It's like throwing a penny off the empire state building. Freefall till that final stop at the end. I hope those long term holders are ready to kiss a load of money away! I'm not sure where this will stop but it looks like a stock in a death spiral- No income to substantiate the value- and bleeding money. (Of course, -they said the same thing about Amazon back in the 90's. ) -Joe Kernen and David Faber said that back in day))

What's surprising to me is how DWAC is still going on. It's had some good increases lately- time to short that fucker too.

I'm one of the fools who sold Amazon short. That doesn't chap me as much as a couple that I sold short that ended up bankrupt or close to bankrupt. I lost money on the positions for reasons described earlier in the thread. There were some winners as well, but I've lost more than I've made.

Circling back to the topic at hand, short or long, don't bet the farm on Trump Media. You could be right in the long term and still lose money.

[eyecu2]

DJT Closed at low 20s today@ 22.84 close- even further sliding down the the shithouse stack like a grubby turd...LOL.

I'd imagine that DJT's allotment will need to be approved for sale, but won't face much discretion due to its board being made of Trumpian Synchophants like Devin Nunes and other goons from the land of Red Hats.

[Daneskold1]

Originally Posted by eyecu2

I already posted another thread about this ...they have less than 5 million members.- and it's speculative value is simply that. It's a political posting site- nothing more, and there are atleast 50% of Merica who will NEVER join that site.

I'm betting our board has almost that many here. LOL. Certainly more fun on this board and way more truth telling vs. the Truth Social.

You don’t address the only pertinent issue. Percentage of fake account account silicone chip sock puppets.
I would say they’re about equal. Quora, leads the way, omitting nut job sites like the chan insanity. Followed by the former Twitter, Instagram! Facebook and Substack in that order. I am only addressing non-porn fake sex worker sock puppets. That’s why I omitted medium, Snapchat, and the rest.

[Daneskold1]

Originally Posted by Tiny

Do you know how much you're paying to borrow the shares? My main broker's charging a borrow fee equivalent to a 797% annual interest rate. You could buy puts or sell calls instead, but based on past experience, if it costs a lot to borrow the shares, the options will cost a lot too.

I agree it's overvalued. I haven't looked at the financials but read cumulative revenues since inception are around $5 million. And the market cap is $6.5 billion. And given that Elon Musk, who's not politically correct, now controls Twitter, and Trump has multiples more followers there than Truth Social, I wonder if Truth Media is viable.

That said you could still lose a lot of money on a short. Just look at Gamestop. The YOLO crowd on Wall Street Bets drove up the market cap to $22 billion. And something similar may happen here, from Trump fans buying the shares. You can be right as to the long term outcome, but when faced with margin calls or forced liquidation because your broker can't borrow the shares any longer, you can lose money.

Who is borrowing from your broker? You can withdraw cash from your credit card and put it in your checking account for $.10 on the dollar of that thing