Trump Media shares close nearly 10% lower as sell-off continues
www.cnbc.com
Trump Media shares have lost about 40% of their value in the three weeks since a New York jury found Trump guilty of 34 felony counts.
  • EndOfLine@lemm.eeEnglish
    34·
    6 months ago

    Roughly 3 months to go in this game of hot potato before Trump can sell his shares without special permission from the board.

  • satanmat@lemmy.world
    15·
    6 months ago

    The stock market is a voting machine not a weighing machine….

    I’m amazed that any investor is buying for the long term. People buying are only propping up trump. There are no fundamentals it has only ever lost money.

    So yeah some people speculate on it. Or to prop him up

    Run Away!!!

    • obviouspornalt@lemmynsfw.com
      41·
      6 months ago

      Different take:

      In other words, Buffett specialized in finding “undervalued” issues on the market. Such opportunities arise occasionally, he says, because in the short run the stock market acts like a “voting machine” (reflecting all kinds of irrational attitudes and expectations), while functioning in the long run more like a “weighing machine” (reflecting a firm’s true value).

      https://quoteinvestigator.com/2020/01/09/market/?amp=1

      Either way, DJT is a shorting opportunity.

    • CharlesDarwin@lemmy.worldEnglish
      6·
      6 months ago

      There is no shortage of stupid people. Explains why a tool like donnie even had that ridiculous game show given to him, and also how he managed to win the Electoral College and slither into office.

  • Treczoks@lemmy.world
    10·
    6 months ago

    There will always be stocks for gullible people. I remember when they IPO’d the national telecommunication company in my country. You were practically bombarded with ads from all sides to buy shares. My stance was that if they have to peddle the stock to the public that way, they probably did not find sufficient interest in professional circles for a reason.

    The stock was then IPO’d at about €15 and shot up to over €100 in a few months. My coworker was quite thankful later that I frequently reminded him that the overall evaluation of the company only supported a value of about €10 per share. He sold at €100. It peaked at €102, and then fell down to €12 or €13. Over the last 30 years, it managed to slowly climb to €22 now, with no more significant peaks.

    • pleasejustdie@lemmy.worldEnglish
      39·
      6 months ago

      your share price is wrong, its $31.06 right now down from $34.72 at opening today (about 11.5% down). Hopefully it’ll be down to less than a penny before Trump is allowed to sell them, that would be amazing. It was down to $30 earlier (about 13.6% down), but its rebounding slightly on people buying the dip so they can lose it tomorrow as it continues to drop. Less than a month ago (May 30) it was up to $55/share, so in 2.5 weeks its dropped 43.5%. From its High of $66.22 on April 25, its lost 53.1% of its value. So less than 2 months it lost over half its value, lets hope it loses the other half in the next 2 months.

      Edit: 2 days later and its currently down 58.82% from April 25 to $27.27 a share, so it lost 4 bucks in 2 days already. Lets-a-go, if it keeps this pace it’ll be worthless by next weekend. Though its highly unlikely that will happen that quickly, likely going to see some pumps and dumps and rebounds while steadily keeping the trending direction.

        • dhork@lemmy.worldEnglish
          6·
          6 months ago

          Trump Media trades on NASDAQ, and of course uses a ticker that is also in use on the NYSE. Use djt:nasdaq to keep up to date on its falling stock price.

      • cm0002@lemmy.world
        4·
        6 months ago

        Welp, time to buy shorts…or is it puts? (I’m not a stock trader, which ever is the one you buy when you’re predicting a drop in stock price lmao)

        • mosiacmango@lemm.ee
          9·
          6 months ago

          Id recommend doing neither if youre not comfortable with the terms.

          Shorts can be particularly dangerous. Puts/Calls tend to at least be a static gain or loss, although it can be large as well.

          In this instance where you want to bet money on a stock falling, you would buy a put or sell a call. You can buy and sell for different time frames and different total amounts, but that’s extra complexity. Start very small, standard length and only 1 contract at a time.

    • cbarrick@lemmy.worldEnglish
      20·
      6 months ago

      113M shares times $31/share is $3.5B.

      That’s wild. No way the company is worth that, much less his share.

  • some_guy@lemmy.sdf.org
    8·
    6 months ago

    I keep checking about once per week. I saw this earlier today and felt pretty great about it. I feel bad for the rubes who lost their savings, but I can’t be responsible for their inability to spot a con.