Nobody else in politics could get away with this, as with all things Trumpian. Fox News hosts were grinning ear to ear yesterday about the wonder of Truth Social, worth $8B. How it can be worth $8B when it’s lost money the past four consecutive quarters (over $40M) and only brings in some $3M per year plus very little advertising? We don’t know but the wizards of finance assure us that this is the case. Supposedly it’s up ten points on the stock market. But despite the bombastic news of Tuesday, here is Trump, begging for all he’s worth.
He ain't making that 175 million bond lmao
— Bill DeMayo (@BDeMayo) March 27, 2024
Something is going on here. The only thing that pops to mind is that Truth Social is perhaps doing as well as it is on the strength of the fact that Trump can’t raid the coffers for six months — well, he could if the board would grant him a waiver and since they’re all relatives and cronies, they probably will.
Unless they’re trying to persuade him that it’s not in his best interests to cash in early on and crater the value of the stock. Now that would mean that Trump is actually listening to somebody, so maybe you should take that notion with a pound of salt. In any event, for whatever reason, he is desperately begging the rubes for their last dollar when supposedly he’s on top of the world. Something is emphatically up.
He’s got nine more days to post the $175M bond in the Trump Organization fraud case. For all the good that it will do him. Maybe the reason he’s under such duress is because it’s been explained to him that he can’t in fact appeal the fraud trial. If he’s got no reversible error and he’s got no lawyer, he’s got no case. And if that’s the situation, then that would explain why he’s so upset.
The bond has been reduced to $175M but the judgment for $454M still stands. So Trump needs to come up with the rest of it if he loses on appeal or if he never gets to an appeal. Now in all honesty I would think that there is a lawyer out there like Christopher Kise, somebody with a white shoe law firm who would be willing to resign a partnership for a $3M retainer agreement and take Trump’s case.
But maybe there isn’t. So today is truly a comical day. Trump has the world by the tail, so we are told, because he just made over $4B on the stock market — on paper. Again and always, Truth Social is a meme stock and traditionally they don’t hold up that well in the long haul. However, it is also a meme stock owned in large part by a presidential candidate and if you buy into Truth Social you’re buying influence. So that does throw a different spin on things.
We don’t have all the facts at this time so all we can do is speculate. Trump is going to be screwed if he can’t appeal the Trump Organization fraud case and as the days go by with no appeal and no lawyer, that possibility becomes increasingly likely.
So Trump could be back to square one. New York State will keep the $175M and apply it towards the money owed the state and then Trump can either pay the judgment or have properties seized to make up the balance.
And then there’s this Judge Merchan who’s giving him hell and that trial now starts in less than three weeks. What a merry-go-round. But that’s what you find when politics becomes an amusement park instead of our most sacred institution. As an old saying goes, “If you send a clown to the palace, he doesn’t become a king. The palace becomes a circus.”
Tough times in trumpland and it doesn’t look to get any better.
“Unless they’re trying to persuade him it’s not in his best interests to cash in early on and crater the value of the stock.”
Hmmm, interesting. Because it’s quite possible that it IS in his best interests to do just that. Because even if (and it’s not an if, it’s a certainty) the value of the remaining stock would fall like a deflated meringue pie, he’d wind up with a pretty huge wad of cash in his pocket, so what does he care? Therefore they need to persuade him that it’s not in his best interests, but what they really mean is that it’s not in THEIR best interests, and that he needs to listen to them because they now own him. The solution to this dilemma is for the board not to allow him a waiver to the six-month embargo, and they’ve probably made that clear to him one way or another.
Given trump’s penchant for stabbing people in the back, making bad business decisions, thinking only of himself 24/7/365, and sounding like a complete and utter moron, yeah, it’s pretty likely he’ll take the money and run. If the other investors do not realize their mistake yet this next f*ckery trump pulls ought to slap them across the face and kick them in tender bits. And quite frankly they deserve it.
A malignant narcissist doesn’t care what’s best for other people…only himself. That you can take to the bank.
the ts money (which he doesn’t have till he sells the stock) would be his money. and Trump doesn’t like spending his own money. if they waive the waiting period for all of them and cash out now that would probably be their best bet of getting anything out of it, though dumping millions of shares very quickly would crater the price very quickly. the way it’s trading sitting on it for a while might get them more but certainly not if they wait the full six months. I’d say they have quite a quandary and don’t know what to do. Trump is always about what he needs right now so we’ll see. interestingly, the volume during yesterday’s trading was fairly low for such a volatile stock, just under 700,000 shares. but just over 2 million were traded after hours. that seems like a lot since the majority are being held (by Trump and others)and aren’t in play.
you also pointed out that tik tok dude had bought a lot as basically a bribe so those aren’t in play either. so, it’s probably traders playing the volatility rather than cultists want to own a piece of the company (which was supposedly the justification for the high ipoh price). at any rate, bribing Trump doesn’t do him any good if he can’t get his hands on the money and it doesn’t do the bribery any good if it goes up in smoke before Trump can get it. Trump being Trump, he probably demand a refund of someone else’s money that he thinks should have been his.