Saturday, June 22, 2024

Trump Media Stock Plummets

CNBC reports that stock in the scam Trump Media has dropped 50% since the Malignant Loser's criminal conviction three weeks ago. The media company with the Malignant Loser's name on it is widely seen by investors as a "meme" stock, kept afloat by his cult who identify with him, but whose earnings are paltry. From the report:

"The stock price of Trump Media has nearly been cut in half in the roughly three weeks since a New York jury convicted the company's majority owner, former President Donald Trump, of criminal charges.

Shares of the company behind Truth Social, which trades on the Nasdaq Stock Market as DJT, ended Friday's trading session at $27.66 apiece.

That's a 46% decline from Trump Media's $51.84-per-share price at the market close on May 30, the day Trump was found guilty of 34 felony counts of falsifying business records. [snip]

Analysts have attributed the stock's downward trend to Trump Media's registration of additional shares, which was declared effective after the bell Tuesday by the Securities and Exchange Commission.

The SEC clearance allows early investors in the company to resell certain shares and exercise stock warrants, threatening to dilute the stock price."  (our emphasis)

We're not financial analysts but it appears that the Malignant Loser's loser company is trying to squeeze every nickel out of their worthless stock for his benefit. The faster the stock and company that it backs falls, the better. 

(photo:  Getty Images; Alyssa Powell / Business Insider)

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