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the company is still worth over $6 billion on paper
But is it, though? 🥴
"on paper". You only add this in when everyone knows it's not actually true, but someone wrote it was.
I imagine that refers to market cap
its market cap is entirely fraudulent.. not only did the company lose money last year, it only brought in $4 million in revenues.. this wild IPO valuation is indicative of fraud of some kind.. probably plain old money laundering..
Yep. Not that Reddit is worth as much as it opened for, but it's worth more than Truth Social for sure, but somehow they opened to a higher value at about the same time. There's no reasonable way that happened legitimately.
this wild IPO valuation is indicative of fraud of some kind… probably plain old money laundering…
It wasn't an IPO - it's doubtful they would have fulfilled the regulatory requirements for an IPO.
DJT is a SPAC.
https://en.wikipedia.org/wiki/Special-purpose_acquisition_company
plain old money laundering
Yes, yes and yes.
A market cap can’t really be “fraudulent”. Stock valuation has traditional methods, but meme stocks have blown the lid off of that in many circumstances. It’s still worth that much because people are willing to pay that price.
Either that or it's written on some very expensive paper. Not sure what material would be worth that much at A4 and 8.5x11 sizes.
Cool, so he's worth what, -$2 billion?
Less actually. Worthless.
I think you need to double check your math. -2,000,000,000 < 0
Worthless than zero
Yet he couldn’t afford his bond money.
This article is out of date. It fell by a lot more than that by close of the market.
I love stories with happy endings.
It's still worth billions, and more than it was initially offered at.
Until it drops to $2 and/or is delisted, it's not a happy or even amusing ending.
Market Cap = $6.069 B (because the screenshot cut it off)
Correction: Trump's stated net worth now more closely aligns with his actual worth ($0)
First World Jerk problems.
I almost bought puts.
Realized I lack the knowledge.
So I chose not to.
If you bought puts at the wrong time, you would have lost money, and then you would be doubly upset when it actually cratered.
1 sad is better than 2 sad + poor.
Smarter than most even if that ends up the right call in hindsight.
The market can remain irrational, etc
I'll bet puts were really, really expensive.
Yea I have no idea how they work so probably. 😅
I'll sell you the opportunity to take my share right now and sell it, if you promise to buy me another share in 3 months at the going rate then. If I guess right, that share will cost as much as it does right now, so when I get my share back, it's still worth what it was before and I keep the fee you paid to borrow my share. If you guessed right, you can replace that share at a much lower cost in 3 months.
The cost I'm going to ask to lend you my share will go up as the likelihood of the price going down later on increases. If it's really, really likely that the cost will go down, I'm going to charge your ass off to borrow my share to offset the potential loss I'm going to take.
God damn the stock market is just pure unadulterated gambling
Yes
This is why I don’t play in options, I can never keep them straight. I apparently meant I considered shorting the stock.
Classic pump n dump
Pump n trump
Or would it be trump and dump?
Dumb and dump
The ‘ol Trump Pump Dump
It's still up way over its fake IPO
They made up that worth a couple of days ago. To be honest, it needs to drop another $5B.
I wonder if he'll try to grab his stocks in the groin when they're trading on the pink sheets.
Ha Ha!.gif
Let's see how long MAGA can hold
Diamond hands! Or some dumb shit.
Can't lose what you never had.