this post was submitted on 26 Mar 2024
602 points (98.2% liked)

News

23406 readers
3059 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

Trump Media & Technology Group, the owner of struggling social media platform Truth Social, is began its long-delayed journey as a public company at Tuesday’s opening bell under the ticker symbol “DJT.”

The stock surged about 56% at the open, to $78, and trading was briefly halted for volatility. Trump Media shares have since stabilized at around $70, marking a 40% increase from Monday’s close.

Wall Street is assigning Trump Media an eye-popping valuation of around $13 billion — a price tag that experts warn is untethered to reality.

The skyrocketing share price comes despite the fact that Trump Media is burning through cash; piling up losses; and its main product, Truth Social, is losing users.

“This is a very unusual situation. The stock is pretty much divorced from fundamentals,” said Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business, who has been studying initial public offerings (IPOs) for over 40 years.

you are viewing a single comment's thread
view the rest of the comments
[–] Buffalox@lemmy.world 113 points 8 months ago* (last edited 8 months ago) (4 children)

Revenue of $ 3.4 million should put it around a $ 34 million value, provided it had normal profit. But it operates at a deficit, and AFAIK a not impressive growth rate. So a more normal estimate would probably put the company about $ 20-25 million.

The talk about billions is ridiculous to a degree where it's either insane, or some sort of scheme exist to pump it to hundreds of times the actual value.

[–] Jaysyn@kbin.social 85 points 8 months ago (1 children)

It's absolutely a way for Saudi Arabia & Russia to pay Trump's fines.

[–] Buffalox@lemmy.world 29 points 8 months ago

That could be it, I bet something is going on, that is probably in the gray area, that could be outright illegal if done directly.

[–] Tylerdurdon@lemmy.world 38 points 8 months ago (2 children)

Are you suggesting there's a lack of truth in Truth Social? Unconscionable! It's even in the name!

[–] Buffalox@lemmy.world 9 points 8 months ago* (last edited 8 months ago) (1 children)

Yes I know it's mind blowing, and probably comes as a shock to most people. 😋

[–] Railing5132@lemmy.world 9 points 8 months ago

Very smart people. The best people.

[–] Cosmicomical@lemmy.world 2 points 8 months ago

I would go as far as saying that the only truth on that social is in its name

[–] Sc00ter@lemm.ee 15 points 8 months ago (1 children)

We saw this same thing with tesla a few years back before they did their split. People are investing in the man, not the company. It's strange

[–] shani66@ani.social 1 points 8 months ago

That's an even worse bet!