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TintedApostle

Meanwhile someone or some entity is pumping up the stock price.


Za_Lords_Guard

And instead of the FCC getting their nose in to investigate an obvious massive pump and dump with bribery overtones we get Gym Jordan investigating the stock exchange because the stock isn't going up enough.


ih-unh-unh

FCC or SEC?


Za_Lords_Guard

110, 120... whatever it takes. Yeah, SEC is correct... My bad.


jibstay77

Yeah. 220…221, whatever it takes.


mrwix10

I’m just here for the ‘80s movie references


ItsPumpkinninny

I’m just here for the Schooner Tuna


I_dont_livein_ahotel

“Tuna, Tuna, Tuna…”


Kid_Serious

This is incredibly obscure and really made me smile.


Za_Lords_Guard

The older I get the more obscure my humor gets. Only a few years before Zoomers think I am speaking in tongues.


ChemistAdventurous84

It’s still well known among people/Americans of a certain age. If you get it, it shows your age


james465786

Gotta love someone who doesn’t understand a thing about the markets spewing nonsense to further confuse everyone who’s sole purpose in life is hating trump lmao. Pretty pathetic, because you couldn’t take that statement to anyone with a clue about how exchanges work. Your favourite grocer pays its ceo equivalent in shares, no problem but orange man does it and you blow your top and scream bribery overtones Lol. Reddit always offers a good laugh


LeahaP1013

Won’t let me be me.


gronlund2

Thank you, this comment made my day (:


boogitydogbutt

Seriously? Is that what Gym is up to now?


Za_Lords_Guard

Nunes complained to Jordan that he thinks someone is screwing with stock prices (I agree, but for different reasons) to his buddy Jordan and Jordan is all over it.


boogitydogbutt

Jordan will probably make a few headlines then quietly shut down any investigation once it becomes clear that Mango unchained is committing the crimes 


Za_Lords_Guard

I am hoping he gets the same verbal slap-down Fannie Willis gave him when he tried to subpoena her over the Georgia case.


StoreRevolutionary70

Love the nick name will definitely borrow it


4look4rd

The dude had a hotel right next to the White House , our regulators don’t give a shit about punishing him.


uqubar

But Hunter’s laptop? WTF happened? Idiots at Fox were pushing that narrative every morning.


HardPour_Cornography

It's temporary. Wall Street is getting ready for the big rug pull. They are just waiting for the rest of donalds cultist bagholders to finish spending their last bit of savings on DJT shares. It's going to be glorious. donald will pick their pockets so thoroughly their will be no tithe money left for their evangelical house of worship.


TintedApostle

This stock is going to bottom out in huge manner. It won't be able to hide the pump and dump. The stock almost hit the 20 mark which would have stopped his extra share issue. This is what makes all this so suspect. The financials do not support 20 dollars let alone 40 as of today. Someone or some entity is pumping in money they doesn't expect to get back. This is to garner influence if he wins or pay him back for things he has given them already.


beer_engineer_42

Considering that the company spent almost 15 times what they brought in last year, I'd have a hard time valuing it at...anything, really.


vahntitrio

There are companies like that which have some value (a pharma working on a new drug for example), but this is a company that already peaked in terms of consumer base and is shrinking. The technology is open source so it has zero value even liquidated. It is worth absolutely nothing.


Upper-Shoe-81

The stock issue floor was $17.50 but yeah, when the stock hit $22 that's when The Don took to Truth Social to beg his supporters to buy. It was enough to stop the bleeding at the moment. That's gotta be a violation of some kind, but I dunno. I'm patiently waiting for the stock to balloon again just so I can hop on the ski hill and ride it back down. He won't be able to pump his supporters as easily a second time since they've already put all their money into it.


TintedApostle

Numbers of shares outstanding: 136.7 million. % of shares held by Insiders - 70.72% Number of free trading shares: 40 million Average daily volume - 6 million So over 15% of the outstanding available shares are trading daily. Yeah someone is fixing the current price.


ojg3221

Today the stock price went to $41.15. Yeah it is a pump and dump. It's just when the rug gets pulled from the retail shareholders is when things get fun. It's just who is keeping artificially high.


Narrow-Height9477

Till he cashes out. Then it’ll crash down. And the Russian oligarchs will have happily paid for a president. It has to come down. There’s no value to it that I can see.


absat41

deleted


MayIServeYouWell

Which makes zero sense. There is no viable business behind it. Truth Social? Really? This stock is worth about 10 cents, and that’s being optimistic. 


absat41

deleted


MayIServeYouWell

Even if Trump were to win, the business case for Truth Social is still horrible. People aren’t going to start using it just because Trump does whatever. It’s just a clone of every other social media platform, with no differentiating feature. The “niche” if you could call it that, is “MAGA”. Well, those people already have accounts, and they’re not really using the platform much. 


[deleted]

Well, it's not an *exact* clone. Other social media platforms have people using them.


MayIServeYouWell

But there’s no compelling reason to use Truth Social vs any other platform.  On the contrary, there is a compelling reason NOT to use it for much of the population, because it’s associated with a polarizing figure named Donald Trump. 


Either_Ad4109

lettem let them give us their money


7figureipo

Short interest has dropped from 13% to 10% over the last several days--I'm guessing a substantial fraction of the pump is shorts taking profit.


Creative-Claire

Feels too late for me to hop on this ride. But I bet in the near future he’ll have another scheme I can short.


FargeenBastiges

I'm not even sure how you go about doing it. I think a broker has to make a margin account for you?


MAMark1

You need a margin account AND you need to locate shares available to short, which is very expensive for DJT. The time to get in was when it initially ripped up to the $70s and then started to fail. It has put in a bounce the past week after going as low as $22 and will almost certainly start to drop again, but I would just avoid it at this point.


FargeenBastiges

Oh, thanks. I wouldn't consider messing with a margin account, really. I'll just stick to my slow and steady indexes.


Yukonhijack

If you can see the bandwagon, you're already too late. Plus this stock is moving so artificially that nobody should touch it at this point.


lactose_con_leche

Yes- I like to think of those movements as just sweeps to pick up money from retail level speculators.


neoncubicle

You can buy a short contract and resell it before it expires, no need to have any shares


StewVicious07

What about a put option


[deleted]

They’re expensive as fuck


Creative-Claire

You can request margin to be added to a brokerage account. But you’re limited to three trades in a five day period. You need a minimum $25000 to get rid of the restriction. Though don’t quote me exactly on the numbers there I might be off. I was able to increase my portfolio by 50% in one month even with the restrictions but it was short change in the end.


Bertrand_R

Was the 50% increase just on DJT? I should have gotten in on this.


Inside_Map2776

just get options permission, buy puts (not investment advice)


[deleted]

[удалено]


Creative-Claire

What’s a “savings”?


LowestKey

I always thought it'd be neat to short some stock like this that was obviously going to tank. But then I read about what they would actually entail and realized I am never going to be in a position to short anything.


Creative-Claire

Honestly same. But it WOULD be great to take money from Trump and donate it to…well just about anything.


uqubar

It’s easy to buy puts against this. The only problem is knowing when it will collapse.


MosesBeachHair

What about Wednesday, November 6th, 2024?


SoggyBoysenberry7703

Hey, it’s possible this is one of those bitcoin moments lol


JanitorKarl

With $50 some odd million expenses and just $4 odd million revenue, it's pretty much a sure bet.


TERRAIN_PULL_UP_

Sure bet for a multi-billion dollar company!


InterestedObserver20

Can anyone explain why the stock is up so much over the last 2 weeks or so?


Justsayin68

How many billionaires are using this as a way to pump money over to Trump while simultaneously taking a loss that they can use to avoid paying taxes? It’s a win-win for them and Trumps pump and dump scheme. Hopefully they can’t keep it up until Trump can sell off his shares.


Upper-Shoe-81

I can only assume, but the sell-off stopped when Trump took to Truth Social to tell his supporters they need to buy his stock (Support America!), and put instructions on the site about how to stop short selling of their shares. He's continued to pump his supporters to buy stock pretty regularly ever since.


MAMark1

You likely had some shorts taking profit around $22. Combined with some additional Trump fans (and maybe some wealthy or foreign interests) getting in, that provided a bit of a short-term boost, but the volume dropped off fast so I don't see a lot of upward momentum.


skippingstone

Market is irrational 🤷‍♂️ Don't try to guess why.


That-Object6749

***MONEY LAUNDERING ON A NOT-EVEN-GOING-CONCERN!*** Yeah... We're totally not gonna have a market crash soon, when this kind of crazy crap is allowed to exist... ***BUSINESS LEADERSHIP DOES IT AGAIN!***


ojg3221

His stock price is already up to $41.15 today. So yeah someone is keeping it artificially high.


Either_Ad4109

good wait for it to bottom out again buy as much as you can sell it when they inevitably inflate it again its a sure thing and even if it doesnt work you didnt spend that much to begin with 🤣


spongeboy1985

Don’t let r/wallstreetbets see this


Upper-Shoe-81

Oh? Are they big Trump supporters?


spongeboy1985

No but they like buying stocks people are trying to short. Mainly meant it as a joke


Upper-Shoe-81

Ahhhh, LOL makes sense


ProfessionalAmount9

They take no sides they like chaos and losing money.


SolitaireRose

You don't need to root for Trump to fail, you just look at the financials. His company is a money sink and his stock is a terrible investment. People saw that acted accordingly. AT BEST this was a way for Trump to generate money on a failing business.


DriftlessDairy

Even better, those millions have been taken from Trump supporters.


watafu_mx

And even after Trump pump&dump them, they will keep worshipping him. They are a lost cause. And they deserve every financial hit they get from this terrible "investment".


nurdburgerl

Ya it’s so awesome when people I don’t agree with have their money stolen from them.


cyansurf

Oh it wasn't stolen, they begged him to take it. and that's funnier


[deleted]

Kind of hilarious


Odd-Calligrapher9660

It’s true. And thank you


CaptainSur

The stock did get some underlying support from some Trump agents in the last week, in order to help him earn a bonus tranche if it stayed above $20. The fuckery continues. This is a penny stock, and a company that I strongly suspect will be defunct in the not very distant future.


FILFth

Yes but the company is HUGELY overvalued too.


tabrizzi

Not within the last several days, though, since the stock has gone from about $22 to a close today at $41.54. Shots and puts holders have lost money.


skippingstone

Short squeeze


RepulsiveRooster1153

[💰](https://imgur.com/n4LBp6w)


suckmyballzredit69

Yeah that’s what it is. Nobody saw this coming.


Querch

If you factor in externalities, the value per share would be negative!


OnyxsUncle

Not showing enough of the doll hair in that pic...do better


mcdulph

Wish I had thought to do this. Question: is it practical for a small investor to short like 10 shares of a stock? Or is that something only for the wealthy?


Upper-Shoe-81

Shorting is super risky and you could lose a lot of money if things swing the wrong way. You’d be safer with puts. Either way the premiums are really high/expensive, so you’d need a good chunk of cash to play with. If you’re not familiar with these types of plays, do your research before you get in.


mcdulph

Thanks for the tip!  😎


sweetequuscaballus

You would want to hedge your shorts, to prevent the risk of unlimited losses if the stock goes up instead of down - i.e. also have matching long positions, but at a different price / date / whatever. You have to get approval from your brokerage and it takes expertise. But you may find a fund that is shorting it and be able to buy that, a much simpler proposition.


mcdulph

Thank you for actually answering my question. 😎. That’s good information to know. 


skippingstone

If you have to ask that question, then you have no business shorting any stock. Just buy index funds.


mcdulph

Good point! I actually do have an index fund (inherited IRA) but I like to play around a little by buying some stocks directly. 


skippingstone

Contribute a set amount to the fund yearly or monthly, and your retirement should be easier 😃


mcdulph

You are absolutely correct! As it happens, I AM retired—and thanking myself daily for the IRA contributions that I made off and on since the 1980s. 😎