Is Another Trump Stock Nosediving into the Ground?

It won’t be the first time that the paper that the stock certificate is printed on is worth more than the share price.

Is Trump Media & Technology Stock Heading for $0?

By David Jagielski – Sep 17, 2024 at 9:45AM. Motley Fool

Key Points

  • Trump Media stock resembles more of a meme stock than a long-term investment.
  • Since Joe Biden announced he wasn’t running for reelection, shares of Trump Media have plummeted by 50%.
  • The company’s fundamentals are severely lacking, and speculators are likely behind the stock’s performance this year.

According to the latest quarterly filing of Trump Media and Technology Group, it lost 16,368,000 for the past quarter, and 343,967,700 for the six month period. The filing covers the periods (3 & 6 months) ending on June 30, 2024.

Elon Musk X/Twitter has Lost One-Fifth from the Purchase Price

Elon Musk’s X Is Now Worth Around A Fifth Of The $44 Billion He Paid For It, Fidelity Says.
Story by Ty Roush, Forbes Staff. September 30, 2024.

  • Fidelity’s stake in X is now worth about $4.19 million, an estimate that values X at $9.4 billion, according to recent disclosures from Fidelity.
  • Fidelity’s initial $19.6 million holding from before Musk purchased X in October 2022 has been reduced by nearly 79% as of the end of August, the company said.
  • The investment firm has reduced the value of its stake multiple times this year: Fidelity marked down the value of its shares by 10.2% in January and another 5.7% in February, despite increasing its estimates by 11% in December.

Corporations have pulled their advertising from X/Twitter, resulting in a 50% decline in revenue.

X/Twitter has become a cesspool of bigotry and hate speech since Musk closed the content moderators.

Personally, I terminated myX/Twitter account on April 27, 2023 when Musk revoked Trump’s permanent X/Twitter ban, which happened shortly after thousands of Trumpers singed the US Capitol in a vain attempt to overthrow the presidential election.

Trump is Desperate to Raise Money.

Trump pitches watches, crypto and his wife’s book in the campaign’s final weeks. Story by Allan Smith. October 5, 2024.

As Trump hawks expensive watches, corruption concerns linger.
Story by Steve Benen. September 30, 2024.

Benen has seen some suggestions that Trump might be pulling a campaign-finance scheme: A hypothetical wealthy donor wants to give the former president a $100,000 donation — far in excess of the legal limit — so he or she buys an expensive watch. At that point, the nominee could take his cut and write a comparable check in support of his candidacy, since there is no legal limit on what candidates can spend on their own campaigns.

A Washington Post analysis noted:
      “Here is a company encouraging people to “join President Trump’s watch community,” offering up a product that retails for six figures. Each watch, the website promises, will include a “personalized ‘Thank You’ message from President Trump,” ensuring, it seems, that Trump knows who made the purchase.”

Charity Or Diversion?

Self-proclaimed billionaire Trump launches GoFundMe to help hurricane victims.
Story by Kelly Rissman. October 1, 2024.

Reportedly, according to Trump, he is worth $4,000,000,000. So, why is he holding a fundraiser on GoFundMe?

Personally, I’d be concerned that my contribution would be diverted to his campaign finances, or his legal bills.

The GoFundMe page states, *“an official response for MAGA supporters to offer their financial assistance to their fellow Americans impacted by Hurricane Helene.”

The article also questions if Trump made a personal donation. Probably not. Trump owned and operated Trump Charity, but that was shuttered because it was involved in self-dealing where the beneficiary was Trump himself, and people in his circle also contributed.

<air quotes> “Truth” <air quotes> Social Subscribers Are Targets of “Pig-Butchering” Scams

‘What idiots we are’: Truth Social users lose hundreds of thousands of dollars to scammers

Story by Carl Gibson. October 5, 2024.

Some “Truth” Social subscribers have lost hundreds of thousands of dollarsto pg-butchering1 scams. The demographics of its subscriber base, older Americans who are retired and have a significantly larger life savings, makes it a honeypot for scammers.

Romance Scams are taking place on “Truth” Social also. One person in his 70’s lost $21,000. So far, he hasn’t told his wife.

  1. “pig butchering.” That type of scam involves a grifter winning the trust of a mark, persuading them to invest in a questionable money-making scheme and cajoling them into making even larger investments by tricking them into thinking they’re making money. ↩