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

This was not an IPO, it was a transfer of money (including from foreign parties that might otherwise look suspicious) disguised as an IPO.

I bought a few shares of DJT after the IPO last week, hoping to get in on the pump and dump and sell sometime around the RNC (when I predicted the stock price would be at its peak). Unfortunately it looks like the dump part has come early and I sold today to cut my losses. Overall I lost about $40. Sad!

Wasn't this expected? The site has like ~500k users and was valued at over $6b.

This must surely be the closest thing to a _pure_ meme stock in existence. There's nothing there but a small social network (apparently smaller than, say, mastodon.social). Like, the actual business is entirely extraneous to the stock price; it is the stock equivalent of a cryptocurrency.

I am 100% convinced that Trump Media is Trump&#x27;s endgame graft. He stands to make literally billions upon billions of dollars from this unabashed scam, and I think selling MAGA suckers shares in his MAGA &quot;Social media platform&quot; might be the entire point of his political career thus far. He&#x27;s long talked about wanting to start a media company, and I think the whole point of his run at the presidency was to validate whether people would pay attention to him at scale, which unfortunately has been thoroughly proven by this point, so now it&#x27;s all about converting that attention into cash the most effective way possible for that&#x27;s only accessible to the world&#x27;s wealthiest folks, which is selling suckers shares in some pump and dump scheme.<p>Poor people run scams on the street, the wealthy run them on stock exchanges.

I’m surprised the loss caused a plunge. It’s still trading at many thousands of times possible future earnings, I wouldn’t have thought the majority of owners are expecting positive earnings any time soon.<p>I think it was a Bloomberg opinion columnist who suggested that Trump Media shouldn’t be treated as a normal stock or even a meme stock but as a Donald Trump Crypto Coin which will be mostly bought by his fans and the price will match his popularity and how much he’s in the news.