|
Post by zenwalk on Apr 2, 2024 11:51:56 GMT -5
Thoughts and prayers. Former President Donald Trump's fledgling media business is losing its sheen among investors a week after going public, with a sharp reversal in the company's stock price lopping $4 billion off its value. The plunge in Trump Media & Technology Group's shares, which debuted on the Nasdaq Composite Index on March 25 under the ticker "DJT" (after the former president's initials), comes as it disclosed mounting losses in a regulatory filing. The company also noted that its accountant had issued a warning that its losses "raise substantial doubt about its ability to continue as a going concern." Shares of Trump Media & Technology Group, whose primary asset is the Truth Social platform, tumbled $13.30, or 21%, to $48.66 on Monday. That's below its opening price last Monday of $49.90 per share, and represents a 39% plunge from the stock's high of $79.38 on March 26. www.cbsnews.com/news/trump-truth-social-djt-stock-down-losses-revenue-going-concern/
|
|
up2
Full Member
Posts: 1,867
|
Post by up2 on Apr 2, 2024 15:04:34 GMT -5
Thoughts and prayers. Former President Donald Trump's fledgling media business is losing its sheen among investors a week after going public, with a sharp reversal in the company's stock price lopping $4 billion off its value. The plunge in Trump Media & Technology Group's shares, which debuted on the Nasdaq Composite Index on March 25 under the ticker "DJT" (after the former president's initials), comes as it disclosed mounting losses in a regulatory filing. The company also noted that its accountant had issued a warning that its losses "raise substantial doubt about its ability to continue as a going concern." Shares of Trump Media & Technology Group, whose primary asset is the Truth Social platform, tumbled $13.30, or 21%, to $48.66 on Monday. That's below its opening price last Monday of $49.90 per share, and represents a 39% plunge from the stock's high of $79.38 on March 26. www.cbsnews.com/news/trump-truth-social-djt-stock-down-losses-revenue-going-concern/Oh my. The going concern opinion from the public accountants certainly seems appropriate - that the company may no longer be in business much longer due to insolvency or significant losses. It's a big deal to get such an adverse opinion on the financials. Further compounding this problem is that staggering losses erode the shareholder capital (equity) on the balance sheet, so once the capital falls below a certain threshold, the company can be delisted, meaning the shares won't be tradeable on NASDAQ, rendering the entire stock valueless. My understanding is Trump cannot trade his shares until later. Much later.
|
|
|
Post by msmaggie on Apr 2, 2024 15:10:50 GMT -5
Thoughts and prayers. Former President Donald Trump's fledgling media business is losing its sheen among investors a week after going public, with a sharp reversal in the company's stock price lopping $4 billion off its value. The plunge in Trump Media & Technology Group's shares, which debuted on the Nasdaq Composite Index on March 25 under the ticker "DJT" (after the former president's initials), comes as it disclosed mounting losses in a regulatory filing. The company also noted that its accountant had issued a warning that its losses "raise substantial doubt about its ability to continue as a going concern." Shares of Trump Media & Technology Group, whose primary asset is the Truth Social platform, tumbled $13.30, or 21%, to $48.66 on Monday. That's below its opening price last Monday of $49.90 per share, and represents a 39% plunge from the stock's high of $79.38 on March 26. www.cbsnews.com/news/trump-truth-social-djt-stock-down-losses-revenue-going-concern/Oh my. The going concern opinion from the public accountants certainly seems appropriate - that the company may no longer be in business much longer due to insolvency or significant losses. It's a big deal to get such an adverse opinion on the financials. Further compounding this problem is that staggering losses erode the shareholder capital (equity) on the balance sheet, so once the capital falls below a certain threshold, the company can be delisted, meaning the shares won't be tradeable on NASDAQ, rendering the entire stock valueless. My understanding is Trump cannot trade his shares until later. Much later. There are still people who think Trump is an awesome businessman. Hard to comprehend.
|
|
|
Post by rocketwolf on Apr 2, 2024 15:20:47 GMT -5
It couldn't happen to a "nicer shyster" and his stupid followers.
|
|
|
Post by zenwalk on Apr 2, 2024 16:32:52 GMT -5
It couldn't happen to a "nicer shyster" and his stupid followers. Rhymes nice too.
|
|
|
Post by WKDWZD on Apr 2, 2024 17:55:15 GMT -5
Trump. A kind of reverse King Midas ... Everything he touches turns to 💩
|
|
|
Post by rocketwolf on Apr 2, 2024 18:53:09 GMT -5
Trump. A kind of reverse King Midas ... Everything he touches turns to 💩 Trouble is he is touching democracy and worse yet the constitution.
|
|
|
Post by guido2 on Apr 2, 2024 19:05:39 GMT -5
Thoughts and prayers. Former President Donald Trump's fledgling media business is losing its sheen among investors a week after going public, with a sharp reversal in the company's stock price lopping $4 billion off its value. The plunge in Trump Media & Technology Group's shares, which debuted on the Nasdaq Composite Index on March 25 under the ticker "DJT" (after the former president's initials), comes as it disclosed mounting losses in a regulatory filing. The company also noted that its accountant had issued a warning that its losses "raise substantial doubt about its ability to continue as a going concern." Shares of Trump Media & Technology Group, whose primary asset is the Truth Social platform, tumbled $13.30, or 21%, to $48.66 on Monday. That's below its opening price last Monday of $49.90 per share, and represents a 39% plunge from the stock's high of $79.38 on March 26. www.cbsnews.com/news/trump-truth-social-djt-stock-down-losses-revenue-going-concern/ Thoughts and prayers. Ohhh my God way too funny. 😆🤣
|
|
|
Post by guido2 on Apr 2, 2024 19:11:30 GMT -5
Thoughts and prayers. Former President Donald Trump's fledgling media business is losing its sheen among investors a week after going public, with a sharp reversal in the company's stock price lopping $4 billion off its value. The plunge in Trump Media & Technology Group's shares, which debuted on the Nasdaq Composite Index on March 25 under the ticker "DJT" (after the former president's initials), comes as it disclosed mounting losses in a regulatory filing. The company also noted that its accountant had issued a warning that its losses "raise substantial doubt about its ability to continue as a going concern." Shares of Trump Media & Technology Group, whose primary asset is the Truth Social platform, tumbled $13.30, or 21%, to $48.66 on Monday. That's below its opening price last Monday of $49.90 per share, and represents a 39% plunge from the stock's high of $79.38 on March 26. www.cbsnews.com/news/trump-truth-social-djt-stock-down-losses-revenue-going-concern/Oh my. The going concern opinion from the public accountants certainly seems appropriate - that the company may no longer be in business much longer due to insolvency or significant losses. It's a big deal to get such an adverse opinion on the financials. Further compounding this problem is that staggering losses erode the shareholder capital (equity) on the balance sheet, so once the capital falls below a certain threshold, the company can be delisted, meaning the shares won't be tradeable on NASDAQ, rendering the entire stock valueless. My understanding is Trump cannot trade his shares until later. Much later. Very very true. At the moment, ahhh cause the bought board of directors of a well known shell company (which always seems to disappear) could wave that 6 month clause. Meanwhile, as we know, Trump will stall, and and and......pooof..... 6 months have come and gone. Meanwhile, meanwhile, the courts are still slogging through ..... whatever. Trump may or may not have lost the election. But bottom line, unless they can prove the invester into the shell that gave Trump the money. Well? ? As always the TRUE Teflon Don will ............... slide. 🛝
|
|
|
Post by smokey1 on Apr 2, 2024 19:39:21 GMT -5
Trump. A kind of reverse King Midas ... Everything he touches turns to 💩 Trouble is he is touching democracy and worse yet the constitution. How so? How is he "touching" democracy and the Constitution?
|
|
up2
Full Member
Posts: 1,867
|
Post by up2 on Apr 2, 2024 20:35:44 GMT -5
Oh my. The going concern opinion from the public accountants certainly seems appropriate - that the company may no longer be in business much longer due to insolvency or significant losses. It's a big deal to get such an adverse opinion on the financials. Further compounding this problem is that staggering losses erode the shareholder capital (equity) on the balance sheet, so once the capital falls below a certain threshold, the company can be delisted, meaning the shares won't be tradeable on NASDAQ, rendering the entire stock valueless. My understanding is Trump cannot trade his shares until later. Much later. Very very true. At the moment, ahhh cause the bought board of directors of a well known shell company (which always seems to disappear) could wave that 6 month clause. Meanwhile, as we know, Trump will stall, and and and......pooof..... 6 months have come and gone. Meanwhile, meanwhile, the courts are still slogging through ..... whatever. Trump may or may not have lost the election. But bottom line, unless they can prove the invester into the shell that gave Trump the money. Well? ? As always the TRUE Teflon Don will ............... slide. 🛝 As a public company that filed for an Initial Public Offering (IPO) in order to trade shares on NASDAQ, they must follow the rules of disclosure and filings with the Securities and Exchange Commission (SEC). You can read by searching the SEC website for EDGAR filings 10K for annual report and 10Q for quarterly reports, Proxy statements, and any other significant events such as major changes in institutional holdings. Prior to going public as a private company, major blocks of shares could not be sold to anyone other than "accredited investors" - read for that wealthy folks and large institutions. I encourage you to read the filings - they are all publicly available as stated above. I suppose what I'm trying to say is the kind of stuff you talk about happens, but mostly in privately held companies while not under the watchful eye of the SEC and other watchdog agencies. But Truth Social is now a public company and they will be dealing with the fallout of lousy operations, falling revenue and insane amounts of debt. If there was any sleights of hand, it would have taken place far earlier than turning public. The real losers here are all the guppies who bought the stock at the IPO and Trump's shares held are restricted for at least six months and given the current trend, he isn't going to get much if he tries to dump it then. More interesting would be the significant moves taken by those who held shares immediately before the IPO and sold before the release of the financial information which is quite damning, especially with the qualified opinion of the public accounts stating there was a going concern issue.
|
|
|
Post by msmaggie on Apr 3, 2024 8:51:24 GMT -5
|
|
|
Post by JoyinMudville on Apr 3, 2024 9:25:02 GMT -5
Remember when Trump had to borrow money from the Russian porn mogul?
It's always the Russians
|
|
|
Post by guido2 on Apr 3, 2024 15:14:20 GMT -5
Very very true. At the moment, ahhh cause the bought board of directors of a well known shell company (which always seems to disappear) could wave that 6 month clause. Meanwhile, as we know, Trump will stall, and and and......pooof..... 6 months have come and gone. Meanwhile, meanwhile, the courts are still slogging through ..... whatever. Trump may or may not have lost the election. But bottom line, unless they can prove the invester into the shell that gave Trump the money. Well? ? As always the TRUE Teflon Don will ............... slide. 🛝 As a public company that filed for an Initial Public Offering (IPO) in order to trade shares on NASDAQ, they must follow the rules of disclosure and filings with the Securities and Exchange Commission (SEC). You can read by searching the SEC website for EDGAR filings 10K for annual report and 10Q for quarterly reports, Proxy statements, and any other significant events such as major changes in institutional holdings. Prior to going public as a private company, major blocks of shares could not be sold to anyone other than "accredited investors" - read for that wealthy folks and large institutions. I encourage you to read the filings - they are all publicly available as stated above. I suppose what I'm trying to say is the kind of stuff you talk about happens, but mostly in privately held companies while not under the watchful eye of the SEC and other watchdog agencies. But Truth Social is now a public company and they will be dealing with the fallout of lousy operations, falling revenue and insane amounts of debt. If there was any sleights of hand, it would have taken place far earlier than turning public. The real losers here are all the guppies who bought the stock at the IPO and Trump's shares held are restricted for at least six months and given the current trend, he isn't going to get much if he tries to dump it then. More interesting would be the significant moves taken by those who held shares immediately before the IPO and sold before the release of the financial information which is quite damning, especially with the qualified opinion of the public accounts stating there was a going concern issue. Thanks you for this well thought out response. Unfortunately, (and I think history bears this out) .... I don't have a whole lot of faith in SEC being up Trumps azz about this stuff. Also, while yes, as always, some rich scum bag came riding in to save him on the last bail. Is there another idiot? Assuming there are none. Bail generally cannot likely be secured with things like real estate. However, liquid assets like case and STOCKS are accepted collateral. See my concern?
|
|
|
Post by guido2 on Apr 3, 2024 15:16:22 GMT -5
Remember when Trump had to borrow money from the Russian porn mogul? It's always the RussiansI'd be looking real hard at the export invoices associated with Trumps new found auto loanshark for a connection.
|
|
|
Post by guido2 on Apr 3, 2024 15:18:25 GMT -5
Trouble is he is touching democracy and worse yet the constitution. How so? How is he "touching" democracy and the Constitution? Ahhhh I guess you aren't watching the Florida case ...................
|
|
up2
Full Member
Posts: 1,867
|
Post by up2 on Apr 3, 2024 16:57:23 GMT -5
As a public company that filed for an Initial Public Offering (IPO) in order to trade shares on NASDAQ, they must follow the rules of disclosure and filings with the Securities and Exchange Commission (SEC). You can read by searching the SEC website for EDGAR filings 10K for annual report and 10Q for quarterly reports, Proxy statements, and any other significant events such as major changes in institutional holdings. Prior to going public as a private company, major blocks of shares could not be sold to anyone other than "accredited investors" - read for that wealthy folks and large institutions. I encourage you to read the filings - they are all publicly available as stated above. I suppose what I'm trying to say is the kind of stuff you talk about happens, but mostly in privately held companies while not under the watchful eye of the SEC and other watchdog agencies. But Truth Social is now a public company and they will be dealing with the fallout of lousy operations, falling revenue and insane amounts of debt. If there was any sleights of hand, it would have taken place far earlier than turning public. The real losers here are all the guppies who bought the stock at the IPO and Trump's shares held are restricted for at least six months and given the current trend, he isn't going to get much if he tries to dump it then. More interesting would be the significant moves taken by those who held shares immediately before the IPO and sold before the release of the financial information which is quite damning, especially with the qualified opinion of the public accounts stating there was a going concern issue. Thanks you for this well thought out response. Unfortunately, (and I think history bears this out) .... I don't have a whole lot of faith in SEC being up Trumps azz about this stuff. Also, while yes, as always, some rich scum bag came riding in to save him on the last bail. Is there another idiot? Assuming there are none. Bail generally cannot likely be secured with things like real estate. However, liquid assets like case and STOCKS are accepted collateral. See my concern? Your concern if stocks are collateral should be for the bail bondsman. The banks rejected his request to post bond on real estate. I seriously doubt that any bail bondsman will accept his shares as collateral.
|
|
|
Post by guido2 on Apr 3, 2024 17:15:31 GMT -5
Thanks you for this well thought out response. Unfortunately, (and I think history bears this out) .... I don't have a whole lot of faith in SEC being up Trumps azz about this stuff. Also, while yes, as always, some rich scum bag came riding in to save him on the last bail. Is there another idiot? Assuming there are none. Bail generally cannot likely be secured with things like real estate. However, liquid assets like case and STOCKS are accepted collateral. See my concern? Your concern if stocks are collateral should be for the bail bondsman. The banks rejected his request to post bond on real estate. I seriously doubt that any bail bondsman will accept his shares as collateral. Ok, who is the bail bondsmen? A real one? Some Russian industrialist aka Putin? Some, bastard that rips of people with loan shark loans business. One two or all three. My Dad and I had a small tour business long ago. And I learned a lot about how an, ahhhh accountant, can turn losses into profit or the very least a zero sum. AKA nothing happened. I easily see those in my my first line, buying shares (or some other mechanism) to give trump real cash. If the stock fails, the person buying those stock, can write it off somehow. And for him, no pain. Trump on the other hand has walk around legal money. Yes I am very very very cynical about business, business accounting, and how the tax laws .....ahhh... work.....ESPECIALLY.... at the level Trump is working at. 🙄🤮 I guess what I am trying to get across, is that what we know as a bail bondsmen and what Trump is trying to pull are two entirely different things.
|
|
|
Post by Evil Yoda on Apr 3, 2024 20:22:59 GMT -5
So glad another Trump grift is coming unraveled. If you invested so much as a penny in him you are stone dumb.
|
|
|
Post by michiganjoe on Apr 4, 2024 13:16:01 GMT -5
Pump and Dump
|
|
|
Post by pickle20 on Apr 4, 2024 13:43:40 GMT -5
Sounds like something someone with a small dick would say.
|
|
|
Post by michiganjoe on Apr 12, 2024 9:25:50 GMT -5
Great buying opportunity for the MAGA crowd!
|
|
|
Post by zenwalk on Apr 12, 2024 10:31:17 GMT -5
Great buying opportunity for the MAGA crowd! With the accusations and lawsuits flying on top of this decline DJT is careening to penny stock or worse. Like himself. And this man is the republican candidate for president?
|
|
|
Post by michiganjoe on Apr 12, 2024 11:54:33 GMT -5
|
|
|
Post by zenwalk on Apr 12, 2024 14:33:57 GMT -5
trumpy has been booted from the billionaire list. Donald Trump has been booted from Bloomberg’s daily list of the 500 top billionaires after the stock price of his Truth Social platform plummeted. On Tuesday, the former president was nowhere to be seen on the list of the world’s richest people, going from Bernard Arnault, the CEO of LVMH, the world’s largest luxury goods company, at $223bn, to John Sall, a businessman and computer software developer, in spot 500. Trump Media, the parent company of Truth Social, began trading at $78 and finished its first day at $57.99, allowing Mr Trump to join the list of the world’s 500 richest people. But by Wednesday morning, the stock was trading at just above $36 – a likely cause of Mr Trump’s removal from the list of the top billionaires. www.independent.co.uk/news/world/americas/us-politics/donald-trump-truth-social-billionaire-list-b2526471.html
|
|
|
Post by msmaggie on Apr 12, 2024 15:03:44 GMT -5
Great buying opportunity for the MAGA crowd! With the accusations and lawsuits flying on top of this decline DJT is careening to penny stock or worse. Like himself. And this man is the republican candidate for president? My husband--who is a very conservative investor--shorted this stock when it first opened. Have to ask him when he plans to sell.
|
|
|
Post by zenwalk on Apr 12, 2024 15:07:30 GMT -5
With the accusations and lawsuits flying on top of this decline DJT is careening to penny stock or worse. Like himself. And this man is the republican candidate for president? My husband--who is a very conservative investor--shorted this stock when it first opened. Have to ask him when he plans to sell. It's human nature to rubberneck an accident. Good luck!
|
|
|
Post by msmaggie on Apr 12, 2024 15:12:50 GMT -5
My husband--who is a very conservative investor--shorted this stock when it first opened. Have to ask him when he plans to sell. It's human nature to rubberneck an accident. Good luck! I love how it's being referred to as a "meme stock"; not familiar with that term but how perfect!!
|
|
|
Post by zenwalk on Apr 12, 2024 15:24:45 GMT -5
It's human nature to rubberneck an accident. Good luck! I love how it's being referred to as a "meme stock"; not familiar with that term but how perfect!! Sounds pretty ephemeral. I don't know what designates a meme stock either. Supposedly they are social media tied but Facebook isn't a meme stock. Sounds like more NFTs.
|
|
|
Post by michiganjoe on Apr 15, 2024 8:29:17 GMT -5
Down about 13% this morning.
|
|