I guess when Trump said there would be a bloodbath if he didn’t get what he wanted, he was talking about the stocks in his media company. Or maybe he meant it would be a ketchup bath.
Trump’s media company, Trump Media & Technology Group, made a big debut last week on the Nasdaq stock exchange. TMTG’s big product is Truth Social, which makes nothing. After the company’s filing with the security regulators reported it lost $58.2 million last year, the stock tumbled.
The stock fell down over 20 percent. It started the day at $59.41 and ended at $48.66. At one point, it was down around $45. [For the latest on the stock GO HERE.]
Truth Social isn’t competing with Twitter/X, Facebook, TikTok, or Instagram. Facebook has over three billion active users a month. Twitter has 368 million a month. Truth Social is trying to keep secret how many active users it has per month, but a good guess is that it’s around five million. MySpace has around seven million. Fewer people visit Truth Social than visit MySpace. Do you want to buy some MySpace stock? I didn’t think so.
Would you like to purchase stock in Black Rifle Coffee? It’s a right-wing Starbucks that’s worth about ten bucks a share. Rumble is a conservative YouTube copy that’s also around ten bucks a share. Public Square is a Republican’s Amazon. Guess how much its stock is worth? It’s around $300 a share. April Fool! It’s really around $10.
Trump can’t sell any of his stock for six months, but the board of TMTG may change that rule. If Trump wants it to change, it’ll change. If the rule is changed, expect Trump to dump as much of the stock as he can which will screw over everyone who invested in it. And why not? He’s screwed over everyone who’s ever believed in him. It’ll be interesting to see how many cultists make excuses for Trump after he forces them to file for bankruptcy. This isn’t NFT cards, tacky sneakers, or grifter bibles. Everything Trump touches dies. Asking people to literally invest in him is asking them to risk their life savings.
Warning to potential cultist investors: You can’t own the libs by losing your mortgage and kid’s college fund for Trump.
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Visit “>Clay Jones’ website and email him at Clay@claytoonz.com.
