Trump Threatens the NASDAQ After Exchange Halts Trading on His Media Company: ‘What’s Going On?’ https://www.mediaite.com/trump/trum...-trading-on-his-media-company-whats-going-on/ Former President Donald Trump threatened the NASDAQ on Friday after the stock exchange briefly halted trading on Trump Media & Technology Group (ticker: DJT), which owns Truth Social. It was a wild day for the stock, which jumped more than 25% after the former president said in a press conference on Friday that he is not selling his shares. “No, I’m not selling,” he said when asked if he will sell his shares. “No, I love it.” Trump’s declaration prompted the stock to go parabolic. Not surprisingly, NASDAQ stopped trading on the security, which is standard practice when a stock’s price experiences huge swings in one direction or another. Trading was halted twice, each for five minutes. The security was one of dozens of listings on the exchange to be halted on Friday. In response, the ex-president went on Truth Social to express his bewilderment and to threaten the operators of the exchange: Why is NASDAQ halting the sale of DJT? What right do they have to do this? They have done it twice today. What’s going on? Are they taking orders from the SEC, which, for political reasons, delayed us for an inordinate amount of time, therefore hurting the stock very badly? I am going to hold NASDAQ, and maybe the SEC, liable for doing what they are doing. If they do it again, we will move the stock to the New York Stock Exchange. It is my intention to own this stock for a long period of time. In my opinion, it is THE REAL VOICE OF AMERICA, but it is definitely MY VOICE, and it will be for a long time to come! With a 60% stake, Trump is the majority shareholder of Trump Media & Technology Group. However, a lockup provision has prevented him from selling shares. That provision expires on Sept. 19. The stock has tanked in recent months amid speculation that the former president may seek to dump large amounts of shares in a short period of time, which would create downward pressure on the price. Currently, Trump owns 115 million shares that are valued at more than $2 billion. The company’s financials are in dire straits, as it lost $58.2 million last year while bringing in just $4.1 million in revenue. Despite the day’s jump, the share price, which closed at $17.97 on Friday, is a long way away from this year’s high near $80 a share.
Trump Media lockup deadline leaves Trump with a choice: trigger a fire sale or hold a meme stock Some say the stock is worth only $1.50 a share. https://fortune.com/2024/09/18/donald-trump-media-truth-social-stock/amp/
I don't see how it's worth anything. Whatever equity is in the stock is going to be stolen by Trump and his cronies. If there's one company in America you can bet will not act with the fiduciary responsibility of its shareholders in mind, it's one where the majority of shares are owned by Donald Trump.
Truth Social Stock Crashes After Trump Reveals His Scammy New Crypto Venture https://futurism.com/the-byte/truth-social-stock-crashes-trump-crypto Donald Trump's ailing Truth Social is once again crashing to an all-time low — and the timing doesn't seem at all coincidental. Over the last 24 hours alone, share prices for Truth Social, which trades under the ticker DJT, have plummeted by nearly 8 percent to just $16, the same all-time low it hit earlier this month. The effect looks even worse the further out you zoom out too, showing how the stock that once sold for an expert-defying $78 is now rapidly approaching rock bottom. While there have been plenty of drops in share price in its short history, two major events related to Trump's campaign — his second brush with a would-be assassin and the launch of his weird new crypto project, which is probably a scam — seem hard to untangle from this latest decline. Oh, and later this week the mercurial political figure will finally be free to sell his own shares, which is enough to give jitters to any rational investor. Pumped and Dumped Though shares had already begun falling Monday in the aftermath of Trump's second potential attacker being detained and arrested, they continued to do so into Tuesday amid news of the shady new crypto project he's calling "World Liberty Financial." As CNN notes, experts often compare DJT to a so-called "meme stock" because it seems to trade in tandem with hype cycles rather than anything substantial like core values or business fundamentals. If that's true, you can see why the former president hyping up yet another tech project would sandbag the last one. Indeed, investors in the social network have suggested in media reports that they didn't buy it expecting a return, but instead did so to express confidence in the former and potential president. "I did it more as a statement to President Trump and to show support at the time," Teri Lynn Roberson, a DJT shareholder, told ABC News last month. "I wasn't really looking to make a lot of money." At this point, it seems nearly a foregone conclusion that most Truth Social stockholders, including potentially the ex-prez himself, are going to sell it at a grim loss. And while stock markets can't entirely replace pollsters, the fact that one of the presidential candidates is the owner of a company getting battered in the NASDAQ probably doesn't bode well for his chances in the election.