this post was submitted on 04 Sep 2024
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Shares of former President Donald J. Trump’s social media company have fallen so much that his onetime $6 billion stake is now worth about $2 billion.

The stock price of Trump Media & Technology Group, closed Wednesday at $16.98, and is down more than 74 percent from the high-water mark it hit after Trump Media’s merger in March with a publicly traded shell company.

. . .

The slide in the share price has accelerated over the past few weeks as the presidential campaign has heated up and Vice President Kamala Harris, the Democratic nominee, has narrowly overtaken Mr. Trump in most national polls. Shares of Trump Media often have risen and fallen in tandem with investor perception of how Mr. Trump is doing in the presidential race.

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[–] teft@lemmy.world 57 points 2 months ago
[–] solsangraal@lemmy.zip 42 points 2 months ago (2 children)

they'd probably sell more if they accepted payment in trump bucks. then buyers could hang them up next to their degree from trump university

[–] nickhammes@lemmy.world 22 points 2 months ago (2 children)

Trump bucks are so 2023, they should start accepting Trump Steaks futures contracts and other derivatives

[–] NegativeInf@lemmy.world 6 points 2 months ago

How about some of them Trump Digital Trading Cards? Only 99 dollars for some ai generated art of Trump holding bitcoins.

[–] Tja@programming.dev 2 points 2 months ago

Trump Airlines miles?

[–] aseriesoftubes@lemmy.world 9 points 2 months ago

How many Stanley Nickels to a Trump Buck?

[–] originalucifer@moist.catsweat.com 33 points 2 months ago (3 children)

its almost like the stock market is completely full of shit

[–] billiam0202@lemmy.world 5 points 2 months ago

Always has been.

[–] Doom@ttrpg.network 1 points 2 months ago

Agreed I imagine somehow it'll be pumped magically when he sells

[–] Reverendender@sh.itjust.works 28 points 2 months ago
[–] resetbypeer@lemmy.world 21 points 2 months ago (1 children)

And yet it has a market cap of 3.3 billion. With his financial figures being so bad, Apple should be valued at 500 times the total amount of Earth's GDP

[–] tacosplease@lemmy.world 5 points 2 months ago

In 2024 Q1 Trump Media reported less than $800K in revenue and over $325M in costs. Their total revenue (not profit - just the total amount of money paid to them) covers about one fifth of one percent of their cost.

It's like having rent at $2,000/month while my job pays $4.69 per month.

[–] expatriado@lemmy.world 18 points 2 months ago (2 children)

no need for true social when there is X now

[–] Ghostalmedia@lemmy.world 30 points 2 months ago (1 children)

People don’t buy Trump stock because of the company’s portfolio and performance, they buy because:

  • it’s a cult / meme stock
  • it’s a way to donate to Trump
  • Speculation

That business could have been a lemonade stand run by 8 year olds, and the stock performance would’ve looked exactly the same.

[–] CosmicTurtle0@lemmy.dbzer0.com 11 points 2 months ago (1 children)

Hey. That's not fair.

8 year olds would actually run a profitable lemonade stand.

[–] DmMacniel@feddit.org 1 points 2 months ago
[–] overload@sopuli.xyz 3 points 2 months ago

OMG so true

[–] negativenull@lemmy.world 11 points 2 months ago* (last edited 2 months ago)
[–] Rookwood@lemmy.world 7 points 2 months ago (1 children)

They were betting he'd win and just blatant cronyism and corruption would ensue.

[–] Reverendender@sh.itjust.works 2 points 2 months ago (1 children)

So you’re saying if it looks like he’s pulling ahead I should buy tons of stock

[–] TransplantedSconie@lemm.ee 1 points 2 months ago

You should buy some, then when he goes to sell, sue him and tie him up in the courts so he can't sell until it becomes negitive $5 Shrute-bucks.

[–] aseriesoftubes@lemmy.world 5 points 2 months ago

Couldn’t happen to a nicer guy.