If Truth Social is under-performing and the stock is being inflated as a bet on the coming election, isn’t this just the latest version of “the value is so much higher than people think” that got Trump in trouble in NY in the first place? I wonder if any financial companies are willing to bet on Truth Social to the tune of hundreds of millions of dollars (in the next few days no less), especially given that the article states Trump may just dump the stocks for what he can get ASAP in Sept/Oct.
It’s going to be interesting if, come election time in November, many MAGA supporters end up holding Truth Social stocks that are worth small fractions of what they are buying them for now.
IPOs are fucking complicated but as long as the financial records are accurate and it’s just idiots overvaluing his brand then it isn’t fraud on his part but idiocy on others. Most big tech IPOs initially deflate - some do so dramatically… it’s probably something we should change as a society but that’s honestly just par for the stock market bullshit course.
I’m worried. It sounds like there is potential here for a lot of MAGA followers to end up losing a lot of money. Yes, they bear responsibility for being so blindly supportive, but if they make themselves destitute it won’t be just their problem. Poor people suffer, their innocent kids suffer, poverty drives crime, violence and extremism… And let’s face it, the states where this would hit hardest aren’t exactly known for their strong social safety nets.
Yes, it’s great that every company can choose to not give a fuck about anything except for their bottom line. I mean who cares about everyone else living on this planet, right?
The only thing these companies keep proving is that they will never make the right choice unless there are proper rules and regulations.
The only US ally that can use a bomb defensively right now is Ukraine because they are actively being invaded by our most belligerent enemy. WTF aren’t we sending this equipment there instead?
They shouod probably stick to tv and just make more seasons of those good shows they kill off, rather than try and make games to fill the time left empty by all the shows they cancelled not coming out.
They cancel shows that aren’t binge watched in the first eight weeks because of payment agreements made with the production companies. They have to pay royalties for all views that occur outside of that defined period. Which is still profitable, it’s just less so.
But they’re not interested in making good, watchable content. They’re only interested in profit, and producing a show which is watched immediately is what maximizes that profit.
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