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Trump’s Truth Social Stake Shrinks by $3 Billion After Stock Tanks - WSJ

Donald Trump’s hot social-media company stock has turned cold, wiping out more than $3 billion of his windfall in its first three weeks of trading.

In the case of Trump’s firm, he owns nearly 60% of the shares outstanding, fueling speculation that he might try to get a waiver from the company’s board to sell early and take advantage of the stock’s rise. The board is friendly to Trump, but an attempt to sell before the lockup agreement expires could trigger lawsuits from other shareholders.

Truth social is inferior to Twitter/X. This isn't surprising to me that the stock tanked. Most IPOs tank quite frankly because the hype of the IPO rarely matches or exceeds the company's underlying value. I log into Truth social a couple of times per year. I'm on twitter/x daily. With Elon buying Twitter/X, it made competition less necessary as Elon has championed free speech and squelched the stymieing attempts by former ownership. That doesn't mean that competition won't be necessary at some point in the future, but Truth will have to survive long enough to be that competition.

If I'm a typical example of their user base, they're in trouble.

I have never used Truth. I can see what the president posts on there via other people posting it on X.

The Don already made his money and will likely be back on X before the election.

That's the game. Pump and dump. Take the money and run. That's how nearly every deal he does works, including in politics. As soon as it becomes work he's on to the next.

It's always something...

(04-16-2024, 07:51 PM)mikesez Wrote: [ -> ]That's the game.  Pump and dump.  Take the money and run.  That's how nearly every deal he does works, including in politics. As soon as it becomes work he's on to the next.

It's nice to see an octogenarian be able to actually do things though.

It took another plunge yesterday. Down 18% Monday, down another 14% Tuesday. Trump's share was down another $300 million Tuesday.

https://www.cnn.com/2024/04/16/investing...index.html

You mad bro?

https://twitter.com/unusual_whales/statu...flVCQ&s=19