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Dec 6th, 2017
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Joined: Sep 2011
Posts: 18,003 Likes: 191
Moderator Carpal Tunnel
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Moderator Carpal Tunnel
Joined: Sep 2011
Posts: 18,003 Likes: 191 |
This is going to be a short thread-starter to just put the whole scam into context. Most people are aware that "Truth Social" is the sole "product" of "Trump Media". Trump Media was acquired by/merged with a SPAC (Special Purpose Acquisition Corporation), sometimes referred to as a "blank check" company. Basically, a SPAC is a way for inside investors to invest in a start-up company without the exposure to the IPO process. The merger resulted in a capital infusion of about $200 million, through the sale of shares at $10/share. After the merger, 176 million shares of the new "company) (NASDAQ - DJT) were issued, the majority to Donald Trump for - nothing. Some shares were then made available for sale on the market - 44 million shares worth - about a quarter of the outstanding shares. Those shares are what is determining the "market cap" of Trump Media. That is not actual the value of the company, mind you, just what is it's "theoretically" worth. In reality, that $200 million infusion? It's already been swallowed up by the first quarter's losses. Trump Media lost more than $300 million last quarter on very little revenueSo how is a company that is worthless on paper, and reality, being traded at nearly 4 times the "par value" of the issued shares? Good question, and the subject of this thread. There is literally no there, there. Indeed, less than there.
Last edited by NW Ponderer; 06/13/24 06:15 PM.
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.
Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich
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1 member likes this:
Jeffery J. Haas |
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Joined: May 2005
Posts: 47,375 Likes: 371
Member CHB-OG
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Member CHB-OG
Joined: May 2005
Posts: 47,375 Likes: 371 |
...So how is a company that is worthless on paper, and reality, being traded at nearly 4 times the "par value" of the issued shares... The reason why is because so many of Trump's cult have purchased the stock simply because it's Donald Trump. They don't care that they will lose money on this endeavor, they simply are pleased with themselves that they bought DJT stock and are "showing support" for Donald Trump. It's completely irrational - then again, I am speaking about the faithful irrational thinking Trump supporter. Last week in Brooklyn, Trump said to the crowd: I don't care about you, I just want your vote. I never thought Trump could ever tell the truth. I was wrong. 
Contrarian, extraordinaire
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2 members like this:
jgw, Jeffery J. Haas |
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Joined: May 2006
Posts: 4,980 Likes: 95
old hand
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old hand
Joined: May 2006
Posts: 4,980 Likes: 95 |
I am curious. Do you think one could buy a 2.00 share and get a fancy piece of paper? One can only wonder. What he is doing with a 2 dollar bill is pretty, and pretty interesting as well. I think he is currently getting something like 19.00. One can only wonder how much he has made reprinting the 2 dollar bill with his picture on it. I forgot, in case you aren't aware: https://ncmint.com/trump-never-surrender-mugshot-2-bill/
Last edited by jgw; Yesterday at 09:45 PM.
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