XCR1250 Posted March 27 Share Posted March 27 Trump Media stock surges on day 2 of market debut ALEXANDRA CANAL March 27, 2024 at 11:32 AM Trump Media & Technology Group (DJT) soared as much as 14% on Wednesday in its second day of trading on the Nasdaq (^IXIC). The parent company of Donald Trump's social media platform Truth Social climbed 16% in its first official trading day on Tuesday. It went public after merging with special purpose acquisition vehicle Digital World Acquisition Corp. in a deal approved by shareholders last week. DJT's strong debut comes amid a meme stock resurgence as some trades viewed as lacking fundamentals have seen eye-popping returns. According to an SEC filing from DWAC, Trump Media lost $49 million in the first nine months of last year and brought in $3.4 million in revenue. At current levels, its market cap now sits around $8 billion. Other meme-friendly names like Reddit (RDDT) and GameStop (GME) have also seen massive run-ups in recent days while riskier assets like bitcoin (BTC-USD) and commodities have soared since the start of the year. Some names are coming back down to earth. Reddit and GameStop were down about 13% and 16%, respectively, in Wednesday's trade. Short interest in DJT stock — bets that the stock price will fall rather than rise — is about 11% of outstanding shares, according to the latest data from S3 Partners. Average short interest in public companies sits in the 3% to 4% range. Trump Media stock soared on the second day of its market debut. (ASSOCIATED PRESS) The former president founded Truth Social after he was kicked off major social media apps like Facebook and Twitter, the platform now known as X, following the Jan. 6 Capitol riots in 2021. Trump has since been reinstated on the platforms. Trump will maintain a roughly 60% stake in Truth Social, a stake currently worth roughly $4 billion. The merger's completion also comes as the former president faces a $454 million fraud penalty and grapples with a campaign fundraising shortfall as he gears up for a 2024 election rematch against President Biden. But Trump will have to wait before cashing in his shares. According to the terms of the merger, stakeholders are subject to a six-month lockup period before selling or transferring shares. The only exception would be if the company's board votes to make a special dispensation. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 27 Platinum Contributing Member Share Posted March 27 (edited) Hot damn..... That Trump brand is awfully powerful Edited March 27 by ViperGTS/Z1 1 Quote Link to comment Share on other sites More sharing options...
Deephaven Posted March 28 Share Posted March 28 Swamp grifter Quote Link to comment Share on other sites More sharing options...
akvanden Posted April 1 Share Posted April 1 It's down 30% off it's high. @ViperGTS/Z1 - no more daily reports? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted April 1 Platinum Contributing Member Share Posted April 1 (edited) 1 hour ago, akvanden said: It's down 30% off it's high. @ViperGTS/Z1 - no more daily reports? Haven't even looked..... You should have shorted it. There's money to be made on both ends of the spectrum..... I would have been long gone Edited April 1 by ViperGTS/Z1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted April 1 Platinum Contributing Member Share Posted April 1 On 3/27/2024 at 12:27 PM, ViperGTS/Z1 said: Hot damn..... That Trump brand is awfully powerful 2 Quote Link to comment Share on other sites More sharing options...
akvanden Posted April 1 Share Posted April 1 3 minutes ago, ViperGTS/Z1 said: Haven't even looked..... You should have shorted it. There's money to be made on both ends of the spectrum..... I would have been long gone Being right is the only return I need. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 1 Share Posted April 1 1 minute ago, akvanden said: Being right is the only return I need. it's the new beyond meat... 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 1 Share Posted April 1 On 3/27/2024 at 1:27 PM, ViperGTS/Z1 said: Hot damn..... That Trump brand is awfully powerful Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted April 1 Platinum Contributing Member Share Posted April 1 6 minutes ago, akvanden said: Being right is the only return I need. Whoop de doooo. If you had shorted it I would have been impressed. There was a reason why I never bought any, even though initially you could have made a ton of money. But like I said I just don't have the iron stomach for these type of stocks anymore. It still could get a nice bounce for those looking to get out.... Seen it happened a million times Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted April 1 Platinum Contributing Member Share Posted April 1 6 minutes ago, Crnr2Crnr said: Yup... Those shoes were gold... let's see you get a pair now.... For under maybe 10 k Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 1 Share Posted April 1 Just now, ViperGTS/Z1 said: Yup... Those shoes were gold... let's see you get a pair now.... For under maybe 10 k They're a Cabbage Patch doll 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted April 1 Platinum Contributing Member Share Posted April 1 Just now, Crnr2Crnr said: They're a Cabbage Patch doll Whatever the hell that means.... I would have easily dished out 399 initially for a pair of only a thousand made. Was late to the draw and didn't see them until they were sold out only a few hours later Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted April 1 Platinum Contributing Member Share Posted April 1 Now if he comes out with something like a signed mugshot with only a thousand produced...... I would easily pay $500 right off the bat.... Those would be priceless a short time after 2 Quote Link to comment Share on other sites More sharing options...
Deephaven Posted April 2 Share Posted April 2 23 hours ago, ViperGTS/Z1 said: Whoop de doooo. If you had shorted it I would have been impressed. There was a reason why I never bought any, even though initially you could have made a ton of money. ie, you were afraid to put your money where your mouth is. You don't even believe your own drivel. Pathetic. Almost Lloyd like. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted April 2 Platinum Contributing Member Share Posted April 2 Just now, Deephaven said: ie, you were afraid to put your money where your mouth is. You don't even believe your own drivel. Pathetic. Almost Lloyd like. You're a funny guy...I have 2k riding on where my mouth is.....you and skidooski have been the most vocal and yet neither would put any skin in the game......yeah you guys are REAL confident. So really just STFU.....TOO FUNNY Just because I believe in Trump doesn't mean I am going to invest in a very risky stock.....I saw it coming but the last I looked awhile ago the stock has rebounded a few bucks today. So you TDS'ERS are not jumping up and down as much I see. Quote Link to comment Share on other sites More sharing options...
Deephaven Posted April 2 Share Posted April 2 21 minutes ago, ViperGTS/Z1 said: Just because I believe in Trump doesn't mean I am going to invest in a very risky stock.... Ah, you believe in Trump but don't believe in the companies he runs... Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted April 2 Platinum Contributing Member Share Posted April 2 7 minutes ago, Deephaven said: Ah, you believe in Trump but don't believe in the companies he runs... I don't think I would invest any money on any social media platform. And I belong to very few... But that's just me. Quote Link to comment Share on other sites More sharing options...
Deephaven Posted April 2 Share Posted April 2 Ah, so you don't believe in Trump. Got it. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 2 Share Posted April 2 57 minutes ago, Deephaven said: Ah, so you don't believe in Trump. Got it. Poor Deepfaggot another topic you know nothing about. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 2 Share Posted April 2 21 minutes ago, ArcticCrusher said: Poor Deepfaggot another topic you know nothing about. Quote Link to comment Share on other sites More sharing options...
Deephaven Posted April 2 Share Posted April 2 1 hour ago, Deephaven said: Ah, so you don't believe in Trump. Got it. 23 minutes ago, ArcticCrusher said: Poor Deep another topic you know nothing about. Trump is a topic I know nothing about? Can you make a point EVER? Seems like there is nothing you know about. Gullible sheep. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 2 Share Posted April 2 @ArcticCrusher loves him some tWitTeR... Right? $6B market cap... Quote Link to comment Share on other sites More sharing options...
Deephaven Posted April 2 Share Posted April 2 Speaking about things people know nothing about. Lloyd thought it had value. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 2 Share Posted April 2 32 minutes ago, Crnr2Crnr said: @ArcticCrusher loves him some tWitTeR... Right? $6B market cap... 29 minutes ago, Deephaven said: Speaking about things people know nothing about. Lloyd thought it had value. What's the current market cap? Quote Link to comment Share on other sites More sharing options...
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