Social Trumps Truth Social made 4 million and lost 58 million in 2023.

[Limbo Pete]

It'll be interesting to see if TR7MP cashes out once he's allowed to sell his shares and tanks the stock himself.

Instantaneously

 

[idrankyourbeer]

Trump Media investor convicted of insider trading ahead of merger​

• A New York federal jury convicted an investor of insider trading in a company’s stock ahead of the firm’s announcement that it would merge with Trump Media.
• The investor, Bruce Garelick, had been on the board of directors of the company, Digital World Acquisition Corp., at the time it was negotiating plans to merge with Trump Media, the owner of the Truth Social app.
• Trump Media’s majority shareholder is disgraced former President Zesto Molesto, who was not accused of any wrongdoing in the case.

A federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in October 2021 that it would merge with Trump Media
The investor, Bruce Garelick, had been on the board of directors of the publicly traded company, Digital World Acquisition Corp., at the time he was accused of sharing and exploiting non--public information with others about its plans to merge with then-privately held Trump Media, the owner of the Truth Social app.

Trump Media’s majority shareholder is disgracedformer President Molestini Cheetolini, who was not accused of any wrongdoing in the case against Garelick in U.S. District Court in Manhattan.

But Garelick’s trial, which began on April 30, took place just blocks away from where Trump is on trial in Manhattan Supreme Court on criminal charges related to a hush money payment to porn star Stormy Daniels.

Two co-defendants of Garelick, the brothers Michael and Gerald Shvartsman, pleaded guilty to insider trading charges on April 3.

Jurors in Garelick’s case began deliberating on Wednesday afternoon after hearing closing arguments from prosecutors and a defense lawyer. After several hours of deliberation Thursday, jurors returned guilty verdicts on the five counts of securities fraud and conspiracy that the 54-year-old Garelick faced.

Garelick, who testified at his trial, is scheduled to be sentenced on Sept. 12.

continues...

https://www.cnbc.com/2024/05/09/trump-media-investor-convicted-of-insider-trading-ahead-of-merger.html

 

[toasty]

and yet and still up over 10% to $54.39 on slightly higher than average volume.

Accountants convicted of fraud, up it goes
SPAC executives convicted of insider trading, up it goes
Reports of declining revenues and users, up it goes
Sitting in a court room arguing with a porn star about sex ou had while cheating on your wife, up it goes

I'm dumblefucked but I'm old so I'll probably remain dumblefucked by everything from now on.

 

[Streeter]

Elon killed Truth social just by buying Twitter. The whole thing with Truth social was that it was a "free speech" unwoke medium that was the appeal. Elon killed that by shifting the the biggest or 2nd biggest social medium to being just that but without the Trump tag - Truth Socisl never had a chsnce after that.

 

[idrankyourbeer]

and yet and still up over 10% to $54.39 on slightly higher than average volume.

Accountants convicted of fraud, up it goes
SPAC executives convicted of insider trading, up it goes
Reports of declining revenues and users, up it goes
Sitting in a court room arguing with a porn star about sex ou had while cheating on your wife, up it goes

I'm dumblefucked but I'm old so I'll probably remain dumblefucked by everything from now on.

its a meme stock. they jump up or down with no rhyme or reason.

seems like more of a scam just to fleece the rubes with. the moment zesto molesto can get his hands on his shares he's gonna pull it all out and send the stock down the toilet. he didnt care how many of his own investors he had to fuck over just to get the merger. he's still out there issuing more and shorting them today. and he ain't gonna give two shits about any of them after he takes his piece of the pie and rides off into the sunset, leaving everybody else to deal with the repercussions.

 

[toasty]

Elon killed Truth social just by buying Twitter. The whole thing with Truth social was that it was a "free speech" unwoke medium that was the appeal. Elon killed that by shifting the the biggest or 2nd biggest social medium to being just that but without the Trump tag - Truth Socisl never had a chsnce after that.

Agreed but judging by the stock price it don't know its' dead yet.

@idrankyourbeer It's gonna be a rug pull or table cloth pull or whatever the hell you kids call it when you promise riches and then everything blows up,,,,,,,

The hard part is figuring out when that will happen.

I've watched a couple of seasoned investors try to pull off shorts already, look like they had it timed when it dove into the 20 and them WHAMMMOOOOO, meme time up to the mid $50's we go.

my overall point is there is no news that should push it up 10% and plenty that should push it down, so that kinda confirms meme status or at least a full disconnect from fundamentals

All of which makes it to risky for me but fucking fun to watch.

 

[idrankyourbeer]

@idrankyourbeer It's gonna be a rug pull or table cloth pull or whatever the hell you kids

i'm just going to have to stop reading there.

 

[Limbo Pete]

and yet and still up over 10% to $54.39 on slightly higher than average volume.

Accountants convicted of fraud, up it goes
SPAC executives convicted of insider trading, up it goes
Reports of declining revenues and users, up it goes
Sitting in a court room arguing with a porn star about sex ou had while cheating on your wife, up it goes

I'm dumblefucked but I'm old so I'll probably remain dumblefucked by everything from now on.

I don't pretend to understand how stocks work -like, at all- but even with my layman's understanding of these topics it seems a safe bet to fall back on the tried and true "simplest explanation is best" approach.
It's a grift.
However the people involved with this monstrosity are doing it, it's a scam.

 

[Streeter]

Agreed but judging by the stock price it don't know its' dead yet.

@idrankyourbeer It's gonna be a rug pull or table cloth pull or whatever the hell you kids call it when you promise riches and then everything blows up,,,,,,,

The hard part is figuring out when that will happen.

I've watched a couple of seasoned investors try to pull off shorts already, look like they had it timed when it dove into the 20 and them WHAMMMOOOOO, meme time up to the mid $50's we go.

my overall point is there is no news that should push it up 10% and plenty that should push it down, so that kinda confirms meme status or at least a full disconnect from fundamentals

All of which makes it to risky for me but fucking fun to watch.

As soon as Elon bought Twitter it was just a matter of time until TS was either buried or relegated to niche app status. If anyone invested in TS after Elon had Twitter then they deserve to lose it. I mean Twitter became everything TS was marketed as minus the dominating Maga presence and Trump stigma. Aka all the good things of TS without the 2 worst things lol.

 

[Cartiac]

Agreed but judging by the stock price it don't know its' dead yet.

@idrankyourbeer It's gonna be a rug pull or table cloth pull or whatever the hell you kids call it when you promise riches and then everything blows up,,,,,,,

The hard part is figuring out when that will happen.

I've watched a couple of seasoned investors try to pull off shorts already, look like they had it timed when it dove into the 20 and them WHAMMMOOOOO, meme time up to the mid $50's we go.

my overall point is there is no news that should push it up 10% and plenty that should push it down, so that kinda confirms meme status or at least a full disconnect from fundamentals

All of which makes it to risky for me but fucking fun to watch.

How could they execute a rug pull on this? This stock is almost entirely insider owned, who are they going to pull the rug on? You seem to love the word "meme" for some reason, but this is the farthest thing from that, this is big boy financial games that regular people have no business trying to play with.

I would also highly question any "seasoned investor" actually shorting this stock. You would have to be a complete idiot to try.

 

[toasty]

How could they execute a rug pull on this? This stock is almost entirely insider owned, who are they going to pull the rug on? You seem to love the word "meme" for some reason, but this is the farthest thing from that, this is big boy financial games that regular people have no business trying to play with.

I would also highly question any "seasoned investor" actually shorting this stock. You would have to be a complete idiot to try.

So Donald Trump has put in 0 dollars and been granted billions of dollars in free stock. When he dumps this equals a rug pull on all the early DWAC & any DJT investors that weren't granted free stocks as insiders.

That money came from someones and those someones were not named Trump. PS- He is accused in the lawsuit by Litinsky & Marsh (i think that is their names, the guys that actually thought up and built truth for him) of trying to force them to sign all their shares over to Melania...this would've been a rug pull on them.

Meme in that retail investors are aware of it and bidding it up to billions of dollars in valuation with no backing of the financials to justify that valuation. 4 mill in yearly revenue, 58 million reported loss, accountants fired for massive fraud, lawsuits flying, reported user loss and up she goes. If I'm misusing meme you're gonna have to explain what I should call this.

Well they seem to be seasoned investors in that they have long histories posting on the investment site I follow, have well thought our discussions on why they are shorting sighting thngs like when the S1 will be released, borrowing costs and doing in depth reads of the legal and financial filings, etc, and what option strategies they are using, but I don't know them, so maybe they are schmucks.

I will say that this statement of yours really bothers me- "this is big boy financial games that regular people have no business trying to play with."

The stock market is the greatest creator of wealth available to anyone with dollars to risk and the idea that big boys should be allowed to manipulate it through spacs, insider trading, algo trading, front running, etc. bugs the living shit out of my egalitrian fuzzy tailed ass.

 

[HereticBD]

As soon as Elon bought Twitter it was just a matter of time until TS was either buried or relegated to niche app status. If anyone invested in TS after Elon had Twitter then they deserve to lose it. I mean Twitter became everything TS was marketed as minus the dominating Maga presence and Trump stigma. Aka all the good things of TS without the 2 worst things lol.

It has never gone beyond a niche app status. It was never a serious competitor to Twitter, with or without Musk. Truth Social is practically a fan club, with the traffic of a right wing forum on Reddit. Musk's involvement with Twitter really had no bearing on TS's success. Twitter is so huge and untouchable, Facebook couldn't even make a dent in it with "Threads" and their built in user base. It would take more than a few miracles for a start up to compete. It's like trying to take on Youtube.

 

[Cartiac]

So Donald Trump has put in 0 dollars and been granted billions of dollars in free stock. When he dumps this equals a rug pull on all the early DWAC & any DJT investors that weren't granted free stocks as insiders.

That money came from someones and those someones were not named Trump. PS- He is accused in the lawsuit by Litinsky & Marsh (i think that is their names, the guys that actually thought up and built truth for him) of trying to force them to sign all their shares over to Melania...this would've been a rug pull on them.

Meme in that retail investors are aware of it and bidding it up to billions of dollars in valuation with no backing of the financials to justify that valuation. 4 mill in yearly revenue, 58 million reported loss, accountants fired for massive fraud, lawsuits flying, reported user loss and up she goes. If I'm misusing meme you're gonna have to explain what I should call this.

Well they seem to be seasoned investors in that they have long histories posting on the investment site I follow, have well thought our discussions on why they are shorting sighting thngs like when the S1 will be released, borrowing costs and doing in depth reads of the legal and financial filings, etc, and what option strategies they are using, but I don't know them, so maybe they are schmucks.

I will say that this statement of yours really bothers me- "this is big boy financial games that regular people have no business trying to play with."

The stock market is the greatest creator of wealth available to anyone with dollars to risk and the idea that big boys should be allowed to manipulate it through spacs, insider trading, algo trading, front running, etc. bugs the living shit out of my egalitrian fuzzy tailed ass.

You don't seem to fully understand how the markets work. Trump would have a major problem trying to sell or "dump" a significant portion of his shares even when he is eligible and it is completely impossible for him to gain anywhere close to the billions of dollars you reference.

In order to sell his shares there must be someone, an institution at this level, willing to buy them from him, which would be very difficult to do considering the business financials and the fact that the company is not even really public since Trump personally owns 70% so even a very large purchase of shares would not give you any significant influence in the company.

You are right that the stock market is the greatest opportunity for average people to create wealth but you are massively naive and mistaken to think that means average investors are anywhere close to the same as the big boys. Buying SPY has absolutely nothing in common with buying DJT, they are completely different things.

 

[toasty]

You don't seem to fully understand how the markets work. Trump would have a major problem trying to sell or "dump" a significant portion of his shares even when he is eligible and it is completely impossible for him to gain anywhere close to the billions of dollars you reference.

In order to sell his shares there must be someone, an institution at this level, willing to buy them from him, which would be very difficult to do considering the business financials and the fact that the company is not even really public since Trump personally owns 70% so even a very large purchase of shares would not give you any significant influence in the company.

You are right that the stock market is the greatest opportunity for average people to create wealth but you are massively naive and mistaken to think that means average investors are anywhere close to the same as the big boys. Buying SPY has absolutely nothing in common with buying DJT, they are completely different things.

Did I ever say dumping 136 million shares as a controlling partner in a stock that averages 6 million trades a day was going to be done in a snap? No.

Do I expect him to liquidate as quickly as humanly possible? Yes.

Do I think he is pressuring the board to waive his lockup period? Yes.

Do I think this is a viable business model that they will sustain and grow for years maturing into a cash cow dividend producing SWAN stock? Hell no.

You seem to be judging my level of knowledge pretty quickly and yes I understand the difference between index funds and individual shares, so I'm at least that saavy.

Meme, Grift, Scam, Pump & Dump, Swindle, Racket, Con, FlimFlam, call it what you will but please tell me who should be buying this stock if anyone?

I'm doing a running commentary on a single high profile crazy stock's movements, please don't think these quick off the top of my head t//dr posts are the total summation of my investing acumen or lack there of.

If you are one of the big boy financial players, good on ya. I'm just a guy talking stocks on the dog.

 

[AWilder]

It has never gone beyond a niche app status. It was never a serious competitor to Twitter, with or without Musk. Truth Social is practically a fan club, with the traffic of a right wing forum on Reddit. Musk's involvement with Twitter really had no bearing on TS's success. Twitter is so huge and untouchable, Facebook couldn't even make a dent in it with "Threads" and their built in user base. It would take more than a few miracles for a start up to compete. It's like trying to take on Youtube.

I see where you're coming from but i'm not sure i agree. Tech is a fickle industry and it only takes a few missteps to blow it all up: myspace, blackberry, AOL, Yahoo, HP, Compaq, etc. etc.

 

[nixkid]

It has never gone beyond a niche app status. It was never a serious competitor to Twitter, with or without Musk. Truth Social is practically a fan club, with the traffic of a right wing forum on Reddit. Musk's involvement with Twitter really had no bearing on TS's success. Twitter is so huge and untouchable, Facebook couldn't even make a dent in it with "Threads" and their built in user base. It would take more than a few miracles for a start up to compete. It's like trying to take on Youtube.

Twitter is definitely not untouchable but the network effect means that it can't disappear overnight. It would be a slow, steady decline over a number of years until its either a shell of its former self or its sold (maybe multiple times) and then gutted for parts. The biggest threat to any established social media company are teenagers because they are the most likely to eschew the incumbents.