Donald Trump $300 Million Poorer After Guilty Verdict As Truth Social Stock Sinks

[JohnEngelman]

Forbes, May 31, 2024

Former President Donald Trump, who was found guilty Thursday on 34 felony counts for falsifying records, became a much less rich man Friday, as shares of the social media company that constitute a majority of his net worth tanked.

Shares of Trump Media, parent company of the Truth Social social media platform traded under the ticker $DJT, fell 5% shortly after markets opened Friday morning.

https://www.forbes.com/sites/dereks...ations&utm_source=pushly&utm_campaign=4800681

This guilty verdict is the gift that keeps on giving, because Trump keeps on losing.

 

[LLCox]

I am having a good day.

 

[dmallord]

Trump's shares are down in value by $314,000,000.

 

[ishtat]

Truth Social may have suffered a significant fall but the Dow went up on the same day by 575 points. That is by some margin the best day of 2024. Interpret it however you choose.

 

[Bray123]

https://uk.finance.yahoo.com/news/trump-warns-market-crash-loses-113032752.html

“If we lose, you’re gonna have a crash like you wouldn’t believe,” Trump said at a campaign rally on Friday (27 February 2024). He went on to say a loss for him would spark “the largest stock market crash we’ve ever had.”

“That’s the Trump bluster that I just don’t pay a lot of attention to,” said Brian Gardner, chief Washington policy strategist at Stifel. “There’s not going to be a huge selloff if Trump were to lose."

 

[SmokingFap]

Forbes, May 31, 2024

Former President Donald Trump, who was found guilty Thursday on 34 felony counts for falsifying records, became a much less rich man Friday, as shares of the social media company that constitute a majority of his net worth tanked.

Shares of Trump Media, parent company of the Truth Social social media platform traded under the ticker $DJT, fell 5% shortly after markets opened Friday morning.

https://www.forbes.com/sites/dereks...ations&utm_source=pushly&utm_campaign=4800681

This guilty verdict is the gift that keeps on giving, because Trump keeps on losing.

I'm really torn in regard to Trump and his Twat Social investment. On the one hand, I would love to see it become a penny stock, so he can't use the proceeds to fund his next three trials. On the other hand, it would be delicious to see him liquidate his entire stake in the company while it still has some value and leave his idiotic supporters holding an empty bag.

I suppose it's a win-win for me.

 

[dmallord]

Up or down, Trump doesn't lose much of anything with stocks. As I recall, he formed a partnership with others. They put up the funding to establish the company, got it on the stock market under DJT, and assigned him his shares at no charge. He lent his 'brand' to the project. That's worth?? nothing, in my opinion. But it sold the stock and made billions on paper at this point.

I believe he can't sell any shares yet. It is something like a six-month wait before he can cash in on his 'gifts' from others seeking to capitalize on the name 'Trump.'

His income is from selling his mug shot and a few golf balls at some golf courses and then there is Melania's neckless sales.

 

[JohnEngelman]

His income is from selling his mug shot and a few golf balls at some golf courses and then there is Melania's neckless sales.

Think of how much money Trump could make selling his soiled diapers to his cult members.

 

[Bray123]

The price of FelonStock has sunk to nearly the level it was before TropeSocial was launched.

Trump may be unable to sell actual stock yet, but you can bet your ass he's selling futures.



https://finance.yahoo.com/quote/DJT/
(open chart to 1Y performance to see the inevitable trend followed by all of his ventures).

 

[dmallord]

The price of FelonStock has sunk to nearly the level it was before TropeSocial was launched.

Trump may be unable to sell actual stock yet, but you can bet your ass he's selling futures.



https://finance.yahoo.com/quote/DJT/
(open chart to 1Y performance to see the inevitable trend followed by all of his ventures).

Hard to sell futures in real estate when it is about 8x10 and has iron bars on the front. There are no spectacular views from those bars, no mention of communal showers, the lack of golf caddies, or even a nine-hole course.

From the link above:

"So how’s DJT doing? Not so great. After going public in March, the stock peaked at $66. Then it tanked in the midst of Trump’s New York business fraud trial, bottoming at $22 in mid-April. It yo-yoed after that, regaining ground as polls showed Trump widening his lead against Biden, even after Trump's convictions in New York. Since Biden withdrew on July 21 and Harris became the heir apparent, however, the stock has mostly fallen. It’s now at $27, down 59% from the March peak and just $5 above the April bottom."