Trump Media, whose central product is the dishonestly named "Truth Social" (see below), continues to face losses in its value, with its stock prices losing another 4% in trading yesterday. Since March, the company's stock has lost a shocking 70% of its value. The Malignant Loser can't sell his stock for a few more weeks, and even that would come with problems, CNN reports:
"The lock-up period prohibiting Trump from selling or even borrowing against his $2.3 billion stake in Truth Social owner Trump Media & Technology Group (DJT) is scheduled to expire by September 25, according to filings.
In theory, this will give Trump access to a pot of money that he could use to pay sky-high legal fees or even fund his presidential campaign. In reality, Trump faces huge obstacles that would make it very challenging to sell a large chunk of Trump Media – unless he doesn’t mind crashing the stock.
'It would be all but impossible for Trump to liquidate his whole stake or even a third of it without completely tanking the stock price,' Michael Ohlrogge, an associate professor of law at the New York University School of Law who has specialized in corporate governance and financial regulation, told CNN in a phone interview.
And the share price is already tanking." (our emphasis)
That hasn't stopped Trump Media officials from selling their stock before it drops further:
"Some Trump insiders are already selling, perhaps contributing to the recent selloff in the share price.
For instance, Phillip Juhan, Trump Media’s chief financial officer and treasurer, recently disclosed selling $1.9 million worth of stock. Trump Media’s general counsel Scott Glabe, chief operating officer Andrew Northwall and chief technology officer Vladimir Novachki made smaller sales last week too.
Even Devin Nunes, the former Republican congressman who now serves as Trump Media’s CEO and president, dumped $632,000 worth of stock last week." [snip]
“If Trump were to sell a large number of shares and the stock price tanks, to some degree he would be burning his own supporters who bought the stock,” said Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business. “Politically, that may not play out real well for him.” (our emphasis)
The Malignant Loser has played his devoted rubes dozens of times, and they've always come back for more abuse with their donations and purchases of his grift items. If it's between cashing in $2 billion or showing loyalty to his gullible cult, you know that the Malignant Loser would pick the former in a nanosecond.
