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.
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.
DJT dropped 5.98 today and another 0.62 in after hours trading, closing at $26.00 even.
lmao
So 5-6 days before it worth $0.
I can’t wait for it to be a penny stock.
🤞🏻
The fun starts when it falls low enough to get delisted from NASDAQ
Probably because there was a 40M share issuance at opening from being above $17.50 today.
https://www.forbes.com/sites/johntobey/2024/04/12/sell-trump-media-stock-djt-nowan-implosion-is-coming/
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.
Oh no! I’m out of damn popcorn!
-from the idiots who bought DJT
That’s still a really high market cap. Even 2.60 per share would be way too high.
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.
Even that is overly charitable. It really is nothing but a blatant attempt at money laundering.