TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) NASDAQ:DJT - SPAC Digital World Acquisition Corp

[bill_g]

That wooshing sound you hear is his Depends filling up. Positively balloonish. His pronouns as of this morning are four letter words that begin with f, s, and b.

[Slim Cognito]

Well, this is fun to watch.

DJT hit a high of $79.38 last Tuesday.

It ended last week at $61.96. Down 21.9%.

Today? It just keeps dropping. At this moment, it's $50.70. So down 36.1% from the high.

[Volkonski]

https://www.cnn.com/markets/stocks/DJT

Now 49.18

[Suranis]

[Volkonski]

https://www.cnn.com/markets/stocks/DJT

Now 49.18

Now 48.07

[p0rtia]

Q for those who do the stocks thing: What's a Market Cap?

[bbflatt]

Q for those who do the stocks thing: What's a Market Cap?

The total value of all shares, number of shares outstanding x market price per share.

[Volkonski]

https://www.cnn.com/markets/stocks/DJT

Now 49.18

Now 48.07

46.95

[p0rtia]

Thanks! So "cap" in this instance is "capital?"

[p0rtia]

https://www.cnn.com/markets/stocks/DJT

Now 49.18

Now 48.07

46.95

Don't stop on my account.

[Lansdowne]

Thanks! So "cap" in this instance is "capital?"

Market capitalization.

[p0rtia]

Thanks!

[Volkonski]

https://www.cnn.com/markets/stocks/DJT

Now 49.18

Now 48.07

46.95

45.80

[raison de arizona]

Now 48.07

46.95

45.80

tfg has 78.75 million shares, we can multiply and watch his fortune dwindle.

[Volkonski]

Trump Media shares plunge after company reports $58 million loss in 2023

https://thehill.com/business/4567808-tr ... press.coop

Shares of Trump Media & Technology Group, the parent company of Trump’s Truth Social platform, were down roughly 24 percent shortly after 1 p.m. EDT. The price of a share was down to roughly $47.

Trump Media merged with “blank check” company Digital World Acquistion Corp. (DWAC) in March, allowing Trump’s social media company to become publicly traded. DWAC shares closed at just under $50 the day before the newly combined company hit the stock market.

The nosedrive in Trump Media shares came after the company reported a loss of $58 million last year in Monday filings with the Securities and Exchange Commission (SEC). Trump Media made $4.1 million in revenue in 2023 — and roughly $750,000 in the fourth quarter of 2023 — compared to $16 million spent on operating expenses and $39.4 million on interest expenses, according to the filing.

Trump Media “expects to continue to incur operating losses and negative cash flows from operating activities for the foreseeable future, as it works to expand its user base, attracting more platform partners and advertisers,” the company said in the Monday filing.

“TMTG’s ability to become profitable and generate positive cash flow depends on TMTG’s success in growing its user base, platform partners, and advertisers,” the company continued, adding that it has begun testing video streaming and other content-hosting capabilities to expand its appeal and use.

“Given these uncertainties, TMTG believes it is premature for TMTG to predict when it will attain profitability and positive cash flows from its operations,” the company said.

[Lansdowne]

46.95

45.80

tfg has 78.75 million shares, we can multiply and watch his fortune dwindle.

If that figure is right, for every $13 fall in share price he loses $1 Billion. If it goes from the original $79 down to $40 that's $3 Billion. Dwindle may not be an adequate word.

[Slim Cognito]

For those of us not well versed in this stuff, the market is down overall, right? Is the DJT stock down, relatively speaking, more than the others?

[p0rtia]

The Twitter is abuzz:

Josh from TPM has the dope:

Highlights--fuckhead is not reporting the number of users the pigsite has. Ooopsie.

https://threadreaderapp.com/thread/1774 ... =topunroll

Screenshot 2024-04-01 at 1.55.55 PM.png (265.52 KiB) Viewed 359 times

Truth Social just released their 8-K, so the SEC mandated disclosures where you can't lie without commiting a crime. Lots of focus on the dollars, which are hilarious: Just over $4.1 M in revenue, $58M in costs. ... https://app.quotemedia.com/data/downloadF

I've mentioned before that this is only barely more than TPM brings in each year and since we're a real business we have costs well under $58m. But these aren't the important data points in this filing. In theory a social platform can be losing a lot of money and still ...

3/ legitimately be worth a ton of money. Facebook had already become a force of nature before Zuckerberg even real turned his attention to monetization. That turned out to be a really good idea. He put his energy into building network effects, platform dominance and only after...

4/ he'd basically won that game did he turn in earnest to monetization. So even though Truth Social losing a ton of money and only having very meager revenue makes it seem like a joke, it doesn't prove it's a joke.

Etc.

Good discussion in the replies.

[much ado]

For those of us not well versed in this stuff, the market is down overall, right? Is the DJT stock down, relatively speaking, more than the others?

The S&P 500 is down 0.36%. That is essentially nothing.

Market Summary
> S&P 500
5,235.47 −18.88 (0.36%)
today
Apr 1, 1:58 PM EDT

[Slim Cognito]

TY

[much ado]

TY

At the time of posting, DJT is number 11 on the list of biggest losers today.

Market Movers - Losers Today

ETA: Oops, just checked again. DJT has moved up to number 9.

SO MUCH WINNING!

That's on very large volume, meaning a lot of share holders are running for the exit...

[Volkonski]

For those of us not well versed in this stuff, the market is down overall, right? Is the DJT stock down, relatively speaking, more than the others?

DJT trades on the NASDAQ.

As I type this DJT is down 24.71%. The NASDAQ is down 0.12%.

[Rolodex]

Now 48.07

46.95

45.80

Keep going.

[MN-Skeptic]

DJT ended the day at $48.66.

Down 21.5% from last week's close at $61.96.

Down 38.7% from last Tuesday's high of $79.38.

(And, just out of curiosity, I checked out how Tesla is doing. Its 52 week high was $299.29. It closed at $175.22 today, down 41.5% from that high.)

[p0rtia]

And for comparison. The NASDAQ overall was down 0.11 percent today.