Trump Media recently disclosed losing $58 million last year on very light revenue of just $4.1 million. The financial results underscore concerns raised by some experts that the company is being vastly overvalued by Wall Street.
Barry Diller, the billionaire chairman of Expedia and People Magazine owner IAC, told CNBC on Thursday that Trump Media is a “scam” and people buying the stock are “dopes.”
Just what I’ve been saying. Trump spokesman said it’s a left wing media attack. They are probably both right. Still makes it a lousy investment
Good news for tuno is that the come down puts his stake at 3.3 billion which is still higher than when it went public I think.
Imo as long as it can stay above 1 billion in 6 months he can pay off that judgement and not have it affect one property. And still keep most in the company. Not crash it. It will do that anyway. Only question is whether it happens before or after Election Day.
Thank you for all the information java, I am going to change my vote now.
You know the idiots in Biden's cabinet are furiously trying to find out the real identity of this Wall Street fellow so they can put him on trial.
Oh and remember. If the stock stays above thresholds of 10 15 and $17 for some silly small period. Like 20 of any 30 days? He gets performance shares. Like 40 million more of them. Probably would dilute stock a bit but means he owns an even higher percentage of the worthless entity.
I would bet the stock is close to achieving that. It went public March 26. So this would be 9 business days above that threshold. Not sure if it’s calendar or business. Probably the latter. So if it doesn’t crash in the next two weeks or if it stays above those targets about half of the next 20 days. Ka Ching for him.
Literally watching a Ponzi scheme in front of our eyes. Wonder if I can short it.
Here’s something funny. The Biden campaign opened an account on truth social and has more followers on it than Trump. lol
More funny. The company that helped put this all together? ASC? Is a Chinese company specializing in spac’s. And has been in repeated trouble with the sec regarding fraud issues.
The irony. A Chinese company takes Trump public. And has a fraud history and troubles with regulators. Who would have guessed?