The recent plunge of Donald Trump’s DJT stock has many people smirking about it, but Trump isn’t losing his shirt, far from it.
It has been a tough start to the week for Donald Trump. After numerous attempts to delay the case against him, he now finds himself sitting in a New York City courtroom, facing his hush money/election interference trial. And to add insult to injury, his beloved social media company, Trump Media & Technology Group (DJT), is taking a beating in the stock market.
Just three weeks ago, DJT began trading, and anyone, from MAGA supporters to foreign sovereign wealth funds, could buy shares of the company. And they did, causing the stock to skyrocket to a record high of $79.38 during the second day of trading. But unfortunately, financial fundamentals caught up, and the stock took a nosedive.
On Monday, DJT was down a staggering 66% from its record high. The company also announced that possibly millions of shares could be sold, including the former president’s shares, which account for nearly 58% of all stock available. While the insiders can’t sell until September, the prospect of millions of additional shares entering the market sent the price even lower.
Then, on Tuesday, the company announced plans to launch a live TV streaming platform, featuring a mix of news, religious programming, and even “content that has been cancelled”. The response? The stock fell even further.
It’s clear that DJT is grasping at straws or, as some would say, throwing spaghetti at the wall. While Trump may have a loyal following, the stock market doesn’t seem to be buying into his business ventures.
Despite the plummeting stock, he still has a significant number of shares and will likely cash in when the time is right. It’s his followers buying small amounts that are more likely to end up empty handed. And that’s the real truth.
Stay tuned for more updates and analysis on this ongoing story, on Fan Reviews News.
