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.

 

[watu05]

"The venture (Trump Media) was supposed to be Trump’s cash cow, as the former president and convicted felon owns 60 percent of the company. But a series of setbacks since launching have ruined Trump’s financial fail-safe. The company had a net loss of $58.2 million in 2023, numbers that had to be reaudited after its accounting firm was charged with “massive fraud” and subsequently barred from ever serving as accountants again. The company lost an astonishing $327.6 million last quarter, only bringing in $770,500 in revenue."

 

[aTUfan]

"The venture (Trump Media) was supposed to be Trump’s cash cow, as the former president and convicted felon owns 60 percent of the company. But a series of setbacks since launching have ruined Trump’s financial fail-safe. The company had a net loss of $58.2 million in 2023, numbers that had to be reaudited after its accounting firm was charged with “massive fraud” and subsequently barred from ever serving as accountants again. The company lost an astonishing $327.6 million last quarter, only bringing in $770,500 in revenue."

is that real loss or paper loss

 

[Gmoney4WW]

is that real loss or paper loss

It'a all fake loss.

 

[TulsaRulzOSUdrools]

It'a all fake loss.

The whole thing is hilarious. They reported even less revenue in the quarter at 770k. That is a freakin election year for Trump, which should be impossible. There is information that traffic is down across the board on many more significant sites.

He is running his legal expenses through the company, and the sucker investors are just coming along for the ride. Unfortunately, index funds are having to pay for this stuff now, too. I don't know if they are investors, traders, or people illegally financing his campaign.

They are burning cash but not at 330M in the quarter. That huge loss was related to a change in the fair value of a derivative. They have a lot of cash related to IPO and some later offerings.

They must report this quarter's results in the next few weeks. I expect the results to be dog-dook again.

It's a meme stock and for the trump cultists. It is a religion for these people who believe this man is the greatest businessperson in the world and was put here by Allah himself to let other people take bullets for him. The guy has had some successes and some huge, huge blowups. I fully expect this thing to go south. Remember, Trump is old. Do you think Trump's tweets will be worth 5 billion dollars once he is out of the presidency? At what point do you think the company would return some cash to justify? When Trump is 90 years old (10 years from now) how much do you think advertisers will be willing to pay for the audiences that watch his fatass swing his golf club, say racist stuff, call into Fox N' Friends and tell us why our black politicians aren't really black? Do you really think anyone will care about what coked out Don Junior has to say after Trump is gone?

 

[lawpoke87]

The whole thing is hilarious. They reported even less revenue in the quarter at 770k. That is a freakin election year for Trump, which should be impossible. There is information that traffic is down across the board on many more significant sites.

He is running his legal expenses through the company, and the sucker investors are just coming along for the ride. Unfortunately, index funds are having to pay for this stuff now, too. I don't know if they are investors, traders, or people illegally financing his campaign.

They are burning cash but not at 330M in the quarter. That huge loss was related to a change in the fair value of a derivative. They have a lot of cash related to IPO and some later offerings.

They must report this quarter's results in the next few weeks. I expect the results to be dog-dook again.

It's a meme stock and for the trump cultists. It is a religion for these people who believe this man is the greatest businessperson in the world and was put here by Allah himself to let other people take bullets for him. The guy has had some successes and some huge, huge blowups. I fully expect this thing to go south. Remember, Trump is old. Do you think Trump's tweets will be worth 5 billion dollars once he is out of the presidency? At what point do you think the company would return some cash to justify? When Trump is 90 years old (10 years from now) how much do you think advertisers will be willing to pay for the audiences that watch his fatass swing his golf club, say racist stuff, call into Fox N' Friends and tell us why our black politicians aren't really black? Do you really think anyone will care about what coked out Don Junior has to say after Trump is gone?

Almost all of that first quarter loss is a one time expense related to taking the company public. Not that I would ever invest in the company but when reporting a company’s financials context matters especially one time charges.

In a semi related note, the markets are getting killed today. Nasdaq alone is down almost 2.5%. The good news is bond yields are also down due to an expectation of a significant slowdown in the economy which will force rates cuts ahead

 

[astonmartin708]

Almost all of that first quarter loss is a one time expense related to taking the company public. Not that I would ever invest in the company but when reporting a company’s financials context matters especially one time charges.

In a semi related note, the markets are getting killed today. Nasdaq alone is down almost 2.5%. The good news is bond yields are also down due to an expectation of a significant slowdown in the economy which will force rates cuts ahead

Looks like they may have pushed the economy beyond the inflationary pressures into a slight recession based on the unemployment numbers and the wage trends.

 

[astonmartin708]

Looks like they may have pushed the economy beyond the inflationary pressures into a slight recession based on the unemployment numbers and the wage trends.

If the rate cuts can even things out a bit, I would say this ultimately counts as a “soft landing”

 

[lawpoke87]

If the rate cuts can even things out a bit, I would say this ultimately counts as a “soft landing”

I look at this as good news. Lower rates helps housing affordability and debt service costs. Hoping the Fed doesn’t overreact and drop rates to fast.

 

[RIP represalia]

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

Tell us more plz how it’s fair to force women to fight men in a boxing ring. Mental gymnastics that you beta cucc boy beezy

 

[RIP represalia]

It’s truly upside down world.

One side’s leader can be saved by divine intervention & react exactly how a leader should, even days later weeks later still giving all the glory to God.

The olympics ceremony can mock Jesus’ Last Supper in Van Gogh’s town & the other side will not only defend it, they’ll call it amazing & spectacular. These same people wished the would be assassin hadn’t missed when firing upon the aforementioned leader saved by divine intervention.

It’s not that difficult to discern right from wrong… or is it? It’s not like that side defending Olympic ceremony support forcing women to physically compete with men… wait. Well, at least it’s not like they’re taking a descendant of a slave owner & lying calling her black using the same one drop rule that their racist party used to use to keep blacks from exercising their own civil liberties… oh, wait.