Hm. I wonder if the market insiders have any advance knowledge of trump’s legal issues worsening so the social medial platform is a symptom of those impending issues.
It’s just no one wants to buy it, it’s a dog. You have to sell for what the next person will pay, and his faithful are out of money to buy your shares.
I’m starting to wonder if he truly, genuinely believed he’d be able to walk away with billions from this garbage. It’s cratering so fast and so far, it could end up de-listed from NASDAQ and relegated to penny-stock status.
Yeah its burn rate is roughly 45 million/yr, and it only has 200mil on hand. Total income was 5 mil, with a 50 mil spend.
You could call it a “growth” phase, but its losing users, which is the only growth that matter with social media.
Its really just a vanity/cash grab project. Being a meme stock, that doesbt mean it wont make someone money, but it will mainly be the ones that got in early, pyramid scheme style.
That certainly has a lot to do with it. That, and being a worthless money-loser of a company tied to a conman traitor clown who has bankrupted every company he’s ever owned or run.
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