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submitted 1 week ago* (last edited 1 week ago) by [email protected] to c/[email protected]

Shares of former President Donald J. Trump’s social media company have fallen so much that his onetime $6 billion stake is now worth about $2 billion.

The stock price of Trump Media & Technology Group, closed Wednesday at $16.98, and is down more than 74 percent from the high-water mark it hit after Trump Media’s merger in March with a publicly traded shell company.

. . .

The slide in the share price has accelerated over the past few weeks as the presidential campaign has heated up and Vice President Kamala Harris, the Democratic nominee, has narrowly overtaken Mr. Trump in most national polls. Shares of Trump Media often have risen and fallen in tandem with investor perception of how Mr. Trump is doing in the presidential race.

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[-] [email protected] 18 points 1 week ago

no need for true social when there is X now

[-] [email protected] 30 points 1 week ago

People don’t buy Trump stock because of the company’s portfolio and performance, they buy because:

  • it’s a cult / meme stock
  • it’s a way to donate to Trump
  • Speculation

That business could have been a lemonade stand run by 8 year olds, and the stock performance would’ve looked exactly the same.

[-] [email protected] 11 points 1 week ago

Hey. That's not fair.

8 year olds would actually run a profitable lemonade stand.

[-] [email protected] 1 points 1 week ago
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this post was submitted on 04 Sep 2024
256 points (96.0% liked)

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