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Post by cadman on Apr 1, 2024 5:50:23 GMT -5
Pre-market trading has it at $59.35. It started on Tuesday and the market was closed Friday. it looks similar to the route Reddit took when it went public a few days before DTJ. IT had a huge climb to $70 a share in the first 5 days and then started its downward slide and is currently at $49.60 a share. I would bet DJT is volatile this week and then starts its downward trend. A lot of retail traders jumped on both stocks and drove up the price looking for a profit. A lot of them will bail and the price will go down. Neither one is worth what they are trading at. Reddit has the potential to grow, but I think DJT will eventually die out. Too many other similar platforms and it currently is a single objective platform and that objective will become less relevant soon. It will either have to grow new members discussing other issues or die out as other social media outlets have done in the past.
i expect their first quarterly filings will be a big issue regarding stock price.
(I am leaving this in OT, but if it turns into a political discussion by mentioning names or I get complaints, it will be moved to politics. Keep it about the stock only)
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Post by illinoisfisherman on Apr 1, 2024 5:52:53 GMT -5
👍
Please delete any posts that attempt to turn this into a political debate. Thank you. Respectfully. Ken
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Post by richm on Apr 1, 2024 6:36:39 GMT -5
I would have bought in if had a chance to get some. Easy one to profit off of.
As for long term, i dunno.
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Post by illinoisfisherman on Apr 1, 2024 6:50:18 GMT -5
I would have bought in if had a chance to get some. Easy one to profit off of. As for long term, i dunno. I wish I would have known how to. It seems like there was an opportunity to double your money in a day last week. 😞 |
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Post by cadman on Apr 1, 2024 7:25:50 GMT -5
Buying an IPO is very limited, I managed to get one share of Reddit, but bought 50 more at $45 a share. so,I made a little money off it.
I do not understand DJT and maybe Nuevo or someone else experienced in the stock market can explain. It does not appear to be an IPO to me, but the same stock as Digital World Acquisition Corp but with a name change. So, could I have bought Digital World Acquisition Corp a few weeks ago and held it waiting on the merger?
Too late now, but worth knowing for the future.
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Post by illinoisfisherman on Apr 1, 2024 7:29:26 GMT -5
Sounds too complicated for my simple brain.
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Post by richm on Apr 1, 2024 8:04:25 GMT -5
Usually an IPO of a decent company will gain value pretty quickly. Then it drops a bit and will start a climb from there.
I've only seen bank IPOs and everyone who could get it an buy some made good money. Figured the trump thing would shoot for the moon.
Trick is getting in and getting shares. The trump thing seems to be name recognition and little else, but could be wrong.
Same thing on buying shares on a split - they usually go up pretty quick. Just get in and buy it below the previous value cause that's where it is going.
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Post by ferris1248 on Apr 1, 2024 8:10:10 GMT -5
It's a SPAC. Digital World Acquisition Corp A special purpose acquisition company (SPAC) is formed to raise money through an initial public offering (IPO) to buy another company. At the IPO, SPACs do not have business operations or stated targets for acquisition. SPAC shares are structured as trust units with a par value of $10 per share. Investors in SPACs range from prominent private equity funds and celebrities to the general public. SPACs have two years to complete an acquisition or they must return funding to investors." www.investopedia.com/terms/s/spac.asp |
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Post by madm002 on Apr 1, 2024 11:06:39 GMT -5
This is a classic meme stock situation. The valuation makes no sense at all. Look at the financial statements. Congrats to anyone who got it, might want to bank some of that profit.
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Post by cadman on Apr 1, 2024 12:50:43 GMT -5
Well, I said it would drop when the first quarterly came out. DJT reported a $58 million loss for 2023 and the stock plunge down to $47 a share.
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Post by cadman on Apr 1, 2024 12:55:20 GMT -5
It's a SPAC. Digital World Acquisition Corp A special purpose acquisition company (SPAC) is formed to raise money through an initial public offering (IPO) to buy another company. At the IPO, SPACs do not have business operations or stated targets for acquisition. SPAC shares are structured as trust units with a par value of $10 per share. Investors in SPACs range from prominent private equity funds and celebrities to the general public. SPACs have two years to complete an acquisition or they must return funding to investors." www.investopedia.com/terms/s/spac.aspBut DWAC was trading on NASDAC. Is this the same stock? It appears to be to me. I thought DJT was an IPO, but it seems like they just changed the name and ticker symbol and there was no IPO. You could have bought DWAC two months ago and owned DJT. |
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Post by nuevowavo on Apr 1, 2024 13:50:50 GMT -5
It was a merger, not an IPO. DWAC was a shell company, as ferris said, whose sole purpose was to find a real company to merge with, in this case Trump Media. Actually, Trump Media acquired DWAC in a reverse merger.
Of course, there were some shenanigans involved, as the SPAC did not disclose to investors that it had talked with Trump Media and had a plan to merge with Trump Media before DWAC's IPO. The SEC let them get away with an $18 million fine.
The SEC also had and filed insider trading charges against three men who had knowledge of the Trump plans, and traded off that non-public info.
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Post by ferris1248 on Apr 1, 2024 17:55:28 GMT -5
Trump Media & Technology Group (DJT), the parent company of Donald Trump's social media platform Truth Social, sank more than 21% Monday following a blockbuster debut last week. At Monday's closing price of $48.66, Trump Media had a market cap of $6.65 billion, giving the former president a stake worth $3.8 billion. After the company's public debut last week, Trump's stake was worth just over $4.5 billion. The stock drop comes on the heels of an updated regulatory filing early Monday that showed the company taking on heavy losses and facing "greater risks" associated with the former president's ties to the platform. finance.yahoo.com/news/trump-media-stock-tanks-as-new-filing-reveals-heavy-losses-greater-risks-on-trumps-involvement-164313322.html |
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Post by illinoisfisherman on Apr 1, 2024 19:14:24 GMT -5
3.8 billion still is not pocket change.
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Post by misterjr on Apr 2, 2024 7:47:36 GMT -5
A new regulatory filing from Donald Trump’s social media company shows an auditor has raised concerns about the company’s future. Trump Media, the company behind the social media platform Truth Social, went public last week after merging with shell company Digital World Acquisition. The stock’s price has been volatile since then, shooting up as high as $79.38 on its first day of trading Tuesday before closing below $50 Monday. Experts have said the company is overvalued compared with other social media platforms, thanks in part to investments by Trump supporters. Now, a new regulatory filing shows that an independent accounting firm is questioning the company’s longevity. In a letter sent to Trump Media’s shareholders and board on March 25 – one day before Trump Media was listed on the Nasdaq – accounting firm BF Borgers CPA PC noted that the company’s operating losses “raise substantial doubt about its ability to continue as a going concern.” Trump Media made about $4 million in revenue and lost more than $58 million in 2023, according to the recent filing. Despite the losses, its market capitalization is currently over $6.5 billion. Trump Media expects to continue to operate at a loss The company acknowledged potential "near-term margin pressure" from increased marketing expenses and insurance costs after going public, and said it expects to operate at a loss “for the foreseeable future” as it works to expand its user base. DJT stock hits turbulence:More volatility ahead for Trump's high-flying Truth Social Truth Social had about 5 million desktop and mobile visitors in February, according to data and analytics company Similarweb. Meanwhile, Facebook has about 3 billion monthly active users. Trump Media also notes in its filing that the company may be subject to “greater risks” than typical social media platforms because of former President Trump’s involvement. The company highlighted potential harassment of advertisers and hacking as potential risks. Trump Media’s “success depends in part on the popularity of our brand and the reputation and popularity of President Trump,” the filing reads. The brand's value "may diminish if the popularity of President Trump were to suffer.” Shares closed at $48.66 Monday, down 21.5%. Trump Media’s “success depends in part on the popularity of our brand and the reputation and popularity of President Trump,” the filing reads. The brand's value "may diminish if the popularity of President Trump were to suffer.” Shares closed at $48.66, down 25% www.usatoday.com/story/money/2024/04/01/truth-social-trump-media-major-losses-2023/73171231007/ |
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