Trump Media erases all 2024 stock gains days before Donald Trump can cash out his $1.95 billion stake

[BlueWavePsych]

Source: Fortune

On Wednesday, TMTG shares fell 6%, closing just below $17. This wipes out all gains for the year, while the S&P 500 has risen 16% over the same period.
...
The stock may continue to decline. Last week, CEO Devin Nunes and CFO Philip Juhan sold $2.5 million worth of shares, further dampening investor sentiment.

Despite its $3.4 billion market cap, the loss-making social media company is trading at over 1,000 times its annual revenue. Sales for the first half of the year were just $1.6 million, with deeply negative cash flow.
...
Wall Street analysts avoid TMTG due to its “meme stock” status, attracting little interest from professional investors. Even if analysts wanted to cover it, TMTG doesn’t publish key metrics, including its number of active, monetizable users.


Read more: https://fortune.com/2024/09/05/donald-trump-truth-social-tmtg-stock-price/

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Donald Trump has lost $4 billion in wealth amid bumpy ride for Trump Media & Technology Group

Trump owns about 60% of Trump Media & Technology Group, a money-losing social media company that trades under the ticker DJT (the former president's initials). The company has gained a following among Trump's supporters, typically retail investors who have flocked to groups on Truth Social to express concern about the declining share price and blame short sellers for the stock's swoon.

"With today's DJT trading volume at 5.3 million shares, even if every available share to borrow was shorted today it would be less than 8% of today's trading volume," Dusaniwsky told CBS MoneyWatch. "DJT's stock price move over the last couple of weeks was primarily due to long selling and not short selling."

Last month, Trump Media said its second-quarter revenue fell 30% to $836,900 from a year earlier. It also reported losing $16.4 million during the quarter, a narrower shortfall from its $22.8 million loss in the year-ago period, according to a regulatory filing. The company blamed the decline in ad sales to a change in revenue sharing with one of its advertising partners.

Recent advertisers on Truth Social include companies hawking ivermectin, the antiparasitic drug cited by some people as a miracle cure for the coronavirus and other illnesses, as well as dating sites for conservatives, Truth Social hoodies and MyPillow.

https://www.cbsnews.com/news/trump-djt-stock-trump-media-technology-group-truth-social/

[IronLionZion]

1. He's too clever for us

I love how he's predicting a 1929 level stock market crash if Kamala wins. He said the same thing in 2020 if Biden wins.

[Eliot Rosewater]

2. If I asked your dog a question and she answered with her paw by tapping on

the ground, her response would be more accurate than anything this traitor says.

[jvill]

8. Goldman Sachs just released a report that says a Kamala win would be better for the economy

[unc70]

3. Trump will still make a fortune

Trump has almost nothing invested in DJT except his name. Thus, whatever price he can get for all those shares is still nearly 100% profit excepting taxes (!?). Trading in DJT is thin so he will have limit his selling.

Still just a Ponzi scheme.

[IronLionZion]

4. Or money laundering

there are some sketchy individuals invested in that company.

[twodogsbarking]

5. Trump's Laundry Service.

[ZonkerHarris]

6. that it still has any value is making suckers and idiots out of Wall Streeters

[Bernardo de La Paz]

9. Read the excerpt for a diametrically opposed opinon

Wall Street is not interested in it, per the excerpt.

Maga Street is a different story.

[ZonkerHarris]

10. Then Wall St is saying "You can manipulate our stocks and we don't care."

[Bernardo de La Paz]

11. No. Wall Street is not saying that, and your statement makes a false assumption. . . . nt

[wolfie001]

7. Devin Nunes and his cow both surrendered

[ArkansasDemocrat1]

12. Hope it enters Penny stock status soon

[Shermann]

13. Trump's TMTG fortune is strictly on paper. It will evaporate the minute he tries to cash out. nt