Truth Social shares closed below $17 on Wednesday, reversing all gains since the company’s rapid rise from January

Truth Social shares closed below $17 on Wednesday, reversing all gains since the company’s rapid rise from January

  • ReallyActuallyFrankenstein@lemmynsfw.comEnglish
    60·
    4 months ago

    I’m confident even this level of support is rife with foreign money being effectively donated to Trump to help him continue to damage American power.

    But it will be really interesting if, in the lead-up to Trump being eligible to liquidate shares, the price rises instead of falls. The widespread expectation that he will dump those shares should put the stock in a freefall, so if it rises, that momentary windfall in the stock price is a good signal just how much money is being laundered to Trump.

    • IninewCrow@lemmy.caEnglish
      121·
      4 months ago

      Just saying what you said is pumping up the stock.

      The idea you just planted probably just sent several investors into the stock in anticipation of this, thinking they can cash out before the free fall.

      I live in mining country and I’ve watched hundreds of exploration companies go through this same phase. The majority of them make more money talking about fantasies and fairy tales, than in anything to do with actual mining rock in the ground.

      • Viking_Hippie@lemmy.world
        21·
        4 months ago

        The majority of them make more money talking about fantasies and fairy tales, than in anything to do with actual mining rock in the ground.

        How ironic that the mining industry is profiting off the ultimate infinitely renewable resources: greed and idiocy

    • rayyy@lemmy.world
      1·
      4 months ago

      Not to worry. The weird orange felon, DonOLD Von Shitzinpantz, has already jumped into a better money laundering racket - bitcoin.

      • Viking_Hippie@lemmy.world
        2·
        4 months ago

        We knew in 2016, but there’s a big difference between KNOWING and being able to PROVE it to the degree that the almost criminally timid Garland DOJ is saying so publicly before it even reaches the inherently very conservative court system of the US…

  • Gsus4@mander.xyz
    16·
    4 months ago

    “Buy high, sell low” is a great way to launder money, along with real estate (and the art market). Things Donny is an expert in. You don’t bankrupt a casino without wanting to.

  • RestrictedAccount@lemmy.world
    71·
    4 months ago

    People are figuring out that he is going to abandon Truth for Shitter.

    That may have been OK if Elon had the extra billions to buy Truth out at an imaginarily high price, but alas Shitter has tanked too.

    If Trump loses, the Russians and Saudis are not going to be willing to shell out free money.

    • Asafum@feddit.nl
      6·
      4 months ago

      If Trump loses, the Russians and Saudis are not going to be willing to shell out free money.

      Why? It’s not like they’re going to just stop trying to destroy America from within. We’re in this forever now. Every single election is going to be the same shit where Russia, China, the Saudis, Iran, etc etc, are all going to try to get our population to fight each other so America is crippled and we can’t “interfere” with any global events like China invading Taiwan or Russia continuing its push deeper into Europe.