No one ever lost money underestimating the intelligence of the American people

[watu05]

Widely attributed to HL Mencken, clearly Trump has taken this concept to heart. Trump University (settled with 'students' fraud ckaims for $25M), Trump Hotels and Casino Resorts (bankrupt), Trump's Atlantic City Casinos (failed), and now Truth Media and Technology Group (symbol DJT). In each of the previous cases, Trump escaped with little if any damage, but the investors or customers all took big hits. That people ever valued a company (DJT) with $4M in revenues and $50M in losses as worth $8 Billion is a tribute to The Donald's hold over his followers. Like a second marriage, it's the triumph of hope over experience, except with Trump it's at least the 5th time around. Those who short DJT stock or bet on puts will do far better than those who invest in the company's future. Given all the Trump supporters in jail, losing their law licenses, or under indictment, it's a bit hard to understand why an so many people are betting there lives will be improved by supporting him.

Maybe Mencken was on to something.


Trump Media plunges more than 25% after company reports net loss of $58 million in 2023

 

[Gmoney4WW]

Widely attributed to HL Mencken, clearly Trump has taken this concept to heart. Trump University (settled with 'students' fraud ckaims for $25M), Trump Hotels and Casino Resorts (bankrupt), Trump's Atlantic City Casinos (failed), and now Truth Media and Technology Group (symbol DJT). In each of the previous cases, Trump escaped with little if any damage, but the investors or customers all took big hits. That people ever valued a company (DJT) with $4M in revenues and $50M in losses as worth $8 Billion is a tribute to The Donald's hold over his followers. Like a second marriage, it's the triumph of hope over experience, except with Trump it's at least the 5th time around. Those who short DJT stock or bet on puts will do far better than those who invest in the company's future. Given all the Trump supporters in jail, losing their law licenses, or under indictment, it's a bit hard to understand why an so many people are betting there lives will be improved by supporting him.

Maybe Mencken was on to something.


Trump Media plunges more than 25% after company reports net loss of $58 million in 2023

I don't even think that was a surprise. If it had come close to breaking even I would have been shocked. With the idiots that are buying that stock, I'm surprised it had any drop over that. They ignored losses before buying it.

 

[lawpoke87]

Speaking of intelligence, can someone explain to me why a Senior US Senator during a time of high inflation which is resulting in debt service costs which are leading us to a financial precipice would propose cutting workers hours by 20% with no reduction in pay?

https://www.cnn.com/2024/04/03/opinions/32-hour-work-week-sanders/index.html

 

[Gmoney4WW]

Speaking of intelligence, can someone explain to me why a Senior US Senator during a time of high inflation which is resulting in debt service costs which are leading us to a financial precipice would propose cutting workers hours by 20% with no reduction in pay?

https://www.cnn.com/2024/04/03/opinions/32-hour-work-week-sanders/index.html

Early planning for worker obsolescence due to robots? Who knows what he is thinking, because it has nothing to do with economics.

We are struggling to stay at the top of many industries today. He doesn't pause to think what this would do to our competitiveness, the costs of our products, or how many businesses it would kill, or force to leave the US. All that would be made worse in a time of high inflation. Prices would rise, and American businesses would no longer be competitive.

It would sure push more businesses to produce and buy more robots. Maybe that's what he wants. He wants to hurry the Robotic, A.I. transition along, while screwing our success in the world market at the same time? I have no understanding of what his motivations are unless it is a love of all things Chinese. It might help their economy out of the recent and rapid growth of inflation.

 

[watu05]

DJT stock has lost half of its value in a month. Trump is line for huge stock grant as long as the price doesn't drop another 50% which will further dilute the value of others stock. Trump could even dump much of his stock after 5 more months but as long as the price stays above $17, he still gets a big extra dose of stock back. What a great deal....for Trump. Everyone else...ehhh...not so good.

Theout come for DJT stockholders and MAGA voters will be the same.

 

[watu05]

(With thanks to DowJones MarketPlace.)
Shares in Trump Media & Technology Group, the parent company of the Twitter knockoff Truth Social, hit a postmerger low below $26.99— down from the mid-$60s in the heady days after the deal

Outside investors are nursing losses potentially exceeding a billion dollars in aggregate.

Total trading volumes on that first day, in late March, came to 32 million shares. If that’s the scale of the mom-and-pop investors who piled in, then their losses could be a much as $1 billion.

What about Trump? Despite the mayhem, he’s on track for a big payday.

First, there are the 79 million shares he already owns. They effectively cost him nothing and are worth $2.4 billion even at their rapidly deflating price.

But, astonishingly, Trump’s likely windfall also includes a massive stock bonus that he is still on track to receive — even though the stock’s performance so far has been disastrous.

At current prices, this bonus would be worth more than $1 billion.

It’s all in the fine print of the prospectus. Trump stands to be given up to 36 million extra shares as long as the “dollar volume-weighted average price” of the stock exceeds certain very low thresholds during pretty much any 20-day period after the merger was completed.

Those threshold prices? Just $12.50, $15 and $17.50 a share.

Critically, Trump will get the bonus even if the stock keeps sinking and outside investors who bought into the stock at higher prices keep losing money. His deal is based on the average price across 20 days, rather than the price at the end of the period. Even better for him: It isn’t even based on a simple average but on an average price weighted toward the days with the biggest trading volumes.

Trump is now all but guaranteed to qualify for his bonus by the end of this month, no matter how much further the stock falls. Obviously, Trump would be better off if the stock remained elevated. The bonus is paid in shares, after all. But it gives him a big, fat cushion either way.

Some people may be surprised to hear that someone can get a massive stock-related bonus as a reward for their stock’s performance even as the stock collapses and outside investors get hosed.

If so, they probably haven’t done business with Trump before. Many of them now have.

(Another lesson for those who bet on Trump.)

 

[Gmoney4WW]

(With thanks to DowJones MarketPlace.)
Shares in Trump Media & Technology Group, the parent company of the Twitter knockoff Truth Social, hit a postmerger low below $26.99— down from the mid-$60s in the heady days after the deal

Outside investors are nursing losses potentially exceeding a billion dollars in aggregate.

Total trading volumes on that first day, in late March, came to 32 million shares. If that’s the scale of the mom-and-pop investors who piled in, then their losses could be a much as $1 billion.

What about Trump? Despite the mayhem, he’s on track for a big payday.

First, there are the 79 million shares he already owns. They effectively cost him nothing and are worth $2.4 billion even at their rapidly deflating price.

But, astonishingly, Trump’s likely windfall also includes a massive stock bonus that he is still on track to receive — even though the stock’s performance so far has been disastrous.

At current prices, this bonus would be worth more than $1 billion.

It’s all in the fine print of the prospectus. Trump stands to be given up to 36 million extra shares as long as the “dollar volume-weighted average price” of the stock exceeds certain very low thresholds during pretty much any 20-day period after the merger was completed.

Those threshold prices? Just $12.50, $15 and $17.50 a share.

Critically, Trump will get the bonus even if the stock keeps sinking and outside investors who bought into the stock at higher prices keep losing money. His deal is based on the average price across 20 days, rather than the price at the end of the period. Even better for him: It isn’t even based on a simple average but on an average price weighted toward the days with the biggest trading volumes.

Trump is now all but guaranteed to qualify for his bonus by the end of this month, no matter how much further the stock falls. Obviously, Trump would be better off if the stock remained elevated. The bonus is paid in shares, after all. But it gives him a big, fat cushion either way.

Some people may be surprised to hear that someone can get a massive stock-related bonus as a reward for their stock’s performance even as the stock collapses and outside investors get hosed.

If so, they probably haven’t done business with Trump before. Many of them now have.

(Another lesson for those who bet on Trump.)

The moment he can sell his shares, he will take the money and run, no matter how low the price is. Hopefully he will only be able to run to the next cell block

 

[lawpoke87]

In this subject, remember when “some” people believed the Admin line that the 87k new agents would concentrate IRS audits on the wealthiest taxpayers despite evidence to the contrary. Well…they lied

Yellen doesn't deny that 90% of new IRS audits would affect those making under $400K

U.S. Treasury Secretary Janet Yellen testified before the House Ways and Means Committee on Friday, where she was confronted with data that suggests up to 90% of new IRS audits will hit taxpayers making less than $400,000, which she did not deny.

www.foxbusiness.com

 

[watu05]

In this subject, remember when “some” people believed the Admin line that the 87k new agents would concentrate IRS audits on the wealthiest taxpayers despite evidence to the contrary. Well…they lied

Yellen doesn't deny that 90% of new IRS audits would affect those making under $400K

U.S. Treasury Secretary Janet Yellen testified before the House Ways and Means Committee on Friday, where she was confronted with data that suggests up to 90% of new IRS audits will hit taxpayers making less than $400,000, which she did not deny.

www.foxbusiness.com

Yep, Yellen's and Biden's versions are very different. Hardly equivalent to the Trumpster's long history of consumer fraud and felony indictments.