A week before Trump's conviction, I predicted the following:
That is exactly what is happening. Short sellers are feasting on the disaster that is Trump's social media long con.
Trump's stock has dropped a whopping 39 percent since his conviction.
It dropped almost 10 percent just today.
The other part of my prediction was thus:
One of the reasons Trump's stock is tanking, in addition to his conviction, is that even Trump knows Truth Social is a big fat loser. It's all been a long con he's played on the rubes.
He's been using TikTok instead of his own media platform!
This is what Trump has done his entire life. He lures in idiot investors who bleev his bullshit, then leaves them in the lurch.
He does the same thing to voters. "Repeal and replace Obamacare." "Build the wall." "Lock her up." "Bring back coal jobs." "Pay off the debt." "Reduce the trade deficit with China and Mexico." "Remove illegal aliens."
Anyone gullible enough to support Trump at this late stage should have a FOOL ME TWICE bumper sticker.
Trump Media, which trades under the vanity ticker “DJT,” has tanked 39% since May 30 when a New York jury found Trump guilty of falsifying business records.
On Tuesday, Trump Media closed down 10% to $31.31. The sell-off came as Trump Media warned investors that it could not force its majority shareholder to favor Truth Social, the company’s flagship platform, including posting there first.
[snip]
Its shrinking market cap of $5.5 billion rests almost entirely on the Trump brand and his loyal following, including small-time investors who’ve shown their support for him by propping up the stock.
Suckers.
Here's the real kick in the balls for those sucker investors:
Trump joined TikTok in June, amassing millions of followers. A political action committee supporting Trump’s candidacy – the Make America Great Again Inc. – opened a TikTok account in May.
“If TMTG disagrees with President Donald J. Trump about the scope of his obligation to use, or first post on, Truth Social, TMTG lacks any meaningful remedy with respect to such disagreement – which could have a material adverse effect on the business and/or operations of TMTG,” the company said in an amended registration statement.
