Trump Media plummets 10% as post-lockup selloff picks up steam

I'm betting that accelerates.

These reductions are so large it's hard to conceptualise.

There was a peak several months ago of $65. Now they're $13.55 or sth?

Commentators all along have been saying that the values are a proxy for Trump's popularity. If so, things aren't looking good.

The Saudis and Russia will shore up the price shortly before mushroomhead starts selling like a banshee, then they'll slurp up all his shares at the ask price. I've thought about call options but I'm not that brave.

DJT is down 70% over the past 6 months. Well on its way to 100%, if you ask me.

Pennies on the dollar please.

Book value per share is around $1.50. However, they don't make any profit so the actual value of the company is considerably less. In my opinion, not financial advice.

It's lower than when it launched, but is still overvalued by at least 1200%.

Harris campaign should just tweet that screen grab.

Eh, consider selling and diversifying if you’re ever in this situation. (Not working for Trump Media – but an IPO after lockup expires.)

All the way to the bedrock, then get drilling.

A new record low every day!

"Lockup" is an investment term. When a company has an IPO (Initial Public Offering, which is the day they become publically available for stock trades), the big shareholders and company employees who are invested ahead of the IPO are "locked" from selling their shares for a certain number of days. This isn't required, but most companies having an IPO end up having a lockup period set as well.

In regards to this headline, it just means that the initial investors and big shareholders are now free to sell their shares, which they are apparently doing in droves!

I thought about it but decided it wasn't a good idea to use logic on a stock powered by vibes / fraud. "The market can stay irrational longer than you can stay solvent" and all.

I thought about that. Apparently the short interest was so high they were charging shorts crazy interest rates to borrow it. You'd have to bet on a huge drop in a very short amount of time. I can't be bothered to look it up but I think it was something crazy like 40-50x a normal rate. One of the only reasons to hold was to charge short sellers interest, for a sane person anyway.

If I hadn't been out of work for months, I'd have started an account just to short it. It's rare to find such a sure bet.

I looked into it. Apparently shorting it was really difficult/nearly impossible because of the high demand of people who were trying to short it.