Truth Social
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Oops. Hope nobody here put all there money in this stock.
https://abcnews.go.com/US/shares-trumps-truth-social-drop-20-after-company/story?id=108721538
Shares of former President Donald Trump's social media platform dropped more than 20% on Monday after the company disclosed a net loss at the end of last year of more than $58 million.
The decline erased $2 billion in value and, with it, the value of Trump's majority stake of 57%.
Before Trump Media and Technology Group joined forces with a shell company to go public last week, "management had substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due," the company said in a regulatory filing.
The company also conceded that "TMTG's success depends in part on the popularity of our brand and the reputation and popularity of President Trump. The value of TMTG's brand may diminish if the popularity of President Trump were to suffer."
wrote on 2 Apr 2024, 01:54 last edited by@taiwan_girl said in Truth Social:
Before Trump Media and Technology Group joined forces with a shell company to go public last week, "management had substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due," the company said in a regulatory filing.
So ... another Trump bankruptcy approaching?
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wrote on 2 Apr 2024, 02:01 last edited by
Trump is a serial bankrupter. Or is that a serial bankruptee?
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wrote on 2 Apr 2024, 02:06 last edited by
I wonder how many of his less financially sophisticated followers blew their life-savings on those shares.
(And before I'm accused of being a condescending asshole I should admit that I consider myself financially unsophisticated when it comes to trading. Without a time-machine I'm never going to make any money)
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wrote on 2 Apr 2024, 02:50 last edited by
If he becomes President and only uses Truth Social, it might drive a lot of new traffic.
So I’m guessing we’ll have to see if that pans out before it completely collapses.
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wrote on 3 Apr 2024, 16:27 last edited by
Former President Donald Trump has sued the co-founders of Truth Social, alleging they mismanaged the social media platform early on and should therefore lose their stock in the company, which recently went public.
In papers filed last week in Florida state court, Trump Media & Technology Group Corp. argued that executives Wes Moss and Andy Litinsky made a series of costly mistakes that resulted in a long delay in the company’s going public and urged a judge to strip them of their shares in the company.
The pair, who were contestants on Trump's NBC show "The Apprentice," had pitched him on the idea of Truth Social after he was banned from what was then known as Twitter following the Jan. 6, 2021, attack on the Capitol.
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wrote on 3 Apr 2024, 16:28 last edited by
Trump staked his reputation on that company.
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wrote on 3 Apr 2024, 17:32 last edited by Renauda 4 Mar 2024, 17:41
His reputation playing the perpetual victim of other people’s deeds remains untarnished.
His mob handle would undoubtedly be,
Donny “Not my Fault” Trumpolino.
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wrote on 4 Apr 2024, 00:55 last edited by
Imagine the satisfaction Trump will feel when their shares are worth zero.
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wrote on 4 Apr 2024, 01:02 last edited by
Truth Social (DJT) stock is up more than 25% in the last month.
Nice.
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wrote on 4 Apr 2024, 01:25 last edited by
Dude is suing for his business partners’ stakes. Sounds on brand.
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wrote on 13 Apr 2024, 01:10 last edited by
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wrote on 11 Jun 2024, 09:58 last edited by
https://newrepublic.com/post/182515/trump-media-stock-tanks
Trump Media stock is once again slumping.
Donald Trump’s social media venture reaudited its finances and filed them with the Securities and Exchange Commission Monday, confirming that the company had a whopping net loss of $58.2 million in 2023. As a result, Trump Media shares dropped more than 6 percent Monday afternoon.
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
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https://newrepublic.com/post/182515/trump-media-stock-tanks
Trump Media stock is once again slumping.
Donald Trump’s social media venture reaudited its finances and filed them with the Securities and Exchange Commission Monday, confirming that the company had a whopping net loss of $58.2 million in 2023. As a result, Trump Media shares dropped more than 6 percent Monday afternoon.
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
wrote on 11 Jun 2024, 10:13 last edited by@taiwan_girl said in Truth Social:
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
The Just Us Department at work, no doubt.
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wrote on 11 Jun 2024, 17:14 last edited by
The new audit confirmed total revenues for 2023 were $4.1MM.
Less than the average chik-fil-a restaurant.
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@taiwan_girl said in Truth Social:
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
The Just Us Department at work, no doubt.
wrote on 11 Jun 2024, 23:55 last edited by Renauda 6 Nov 2024, 23:58@Doctor-Phibes said in Truth Social:
@taiwan_girl said in Truth Social:
The company had to change auditors last month after its previous firm, BF Borgers, was charged with “massive fraud” and subsequently barred from ever serving as accountants again.
The Just Us Department at work, no doubt.
Just “Я” Us
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wrote on 12 Jun 2024, 00:43 last edited by
Facebook revenues were $134B. Every 15 minutes or so Facebook took in as much as truth social did all year.
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The new audit confirmed total revenues for 2023 were $4.1MM.
Less than the average chik-fil-a restaurant.
wrote on 12 Jun 2024, 10:47 last edited by@jon-nyc said in Truth Social:
The new audit confirmed total revenues for 2023 were $4.1MM.
Less than the average chik-fil-a restaurant.
And Truth Social is open on Sundays!
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Facebook revenues were $134B. Every 15 minutes or so Facebook took in as much as truth social did all year.
wrote on 12 Jun 2024, 10:48 last edited by@jon-nyc said in Truth Social:
Facebook revenues were $134B. Every 15 minutes or so Facebook took in as much as truth social did all year.
Even The Failing New York Times manages $2.4B
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wrote on 18 Sept 2024, 00:57 last edited by
DJT keeps falling; near all-time low.
“Judge rules Trump Media breached stock contract with early investor”
https://www.cnbc.com/2024/09/17/djt-trump-media-stock-lawsuit-lockup.html“Trump's media stock falls before insider trading restrictions lift”
https://www.reuters.com/markets/us/trumps-media-stock-falls-before-insider-trading-restrictions-lift-2024-09-17/“DJT stock: Donald Trump’s stock falls near all-time low”
https://www.fastcompany.com/91192505/djt-stock-donald-trump-media-stock-falls-near-all-time-low-truth-social -
wrote on 18 Sept 2024, 01:14 last edited by
If he gets elected the Russians, Chinese, and Gulf states will advertise on it heavily.