You recall the bombast sold by right-wing media that indictments only help Donald Trump, and that his criminal conviction last month would “result in a landslide” at the polls. Apparently, if we trust the evidence of our eyes and ears, bombast is precisely what those suggestions are and nothing more. The reality of the situation, as reported by CNN and republished on Twitter by Occupy Democrats, is that in the three weeks since Trump was convicted of 34 felonies, his Truth Social stock (and the parent company TMTG) has fallen 50%. That doesn’t leave a lot of leeway to drop much further, now does it?

BREAKING: CNN brutally humiliates Donald Trump by cutting from a planned segment to live coverage of his Truth Social stock crashing and burning in “free fall mode,” enraging MAGA viewers. This is a work of art… “Take a look at this live look at the stock of the parent company of Trump’s Truth Social business,” said Wolf Blitzer as the screen displayed a dramatic 4.6% drop in stock price.

“Since Donald Trump’s felony convictions in New York three weeks ago, Truth Social and its parent company have lost roughly half its value,” Blitzer went on. “Trump Media stock prices have been rapidly dropping since May dealing a huge blow to the former president’s net worth,” he went on. “Truth Social is hurting big time now, what is happening?” Blitzer asked CNN reporter Matt Egan.

“Well Wolf, this is a stock that is basically in free fall mode right now,” said Egan. “Trump Media was trading above 50 bucks as recently May 30th. Of course, that’s the day that Donald Trump was convicted here in New York and within seconds of that conviction, we saw the stock price plunge and it’s just snowballed since then. This company has now lost over half of its value in just three weeks. That’s staggering losses.”

“The spark for this week’s selloff was the fact that regulators gave a green light to investors who owned what’s known as warrants to buy extra stock in this company,” explained Egan. “It’s a move that could allow Trump Media to raise extra money, but it’s also going to water down existing shareholders and that has spooked some investors.” “I don’t want to assign too much logic here to the stock moves because remember experts have said that Trump Media is basically a meme stock, it is trading on hype and momentum, not fundamentals,” he went on.

“It’s valued in the billions of dollars even though it generates very little revenue.” “Now no matter the cause, this selloff has wiped out a huge chunk of the value of the stock of the company’s chairman and leading shareholder, Donald Trump,” he said. “This stake was worth about $6 billion as recently as three weeks ago. Now, it’s down to around $3 billion and this selling may not be done.” Egan went on to quote an expert who said that despite the selloff, Trump Media stock is “still wildly overpriced.” “It’s a very tiny player in social media,” he added.

Here’s the bottom line: This is proof positive that Trump is not some bullet proof icon or that his criminal conviction was 1. meaningless or 2. made him even stronger. No. This is evidence of just the opposite, that he was revealed to be a crook and that has negatively influenced a lot of people. And well it should.

My only question for some time now has been the timing of Truth Social’s collapse. Are we talking pre-election or post-election? I seriously don’t see Truth Social holding up too long post election after Trump loses. And maybe it won’t need to. Maybe it will serve its purpose and hold up long enough to keep the grift going until Trump washes out and then post-election, Trump can do his crying and all-caps raging on Elon Musk’s platform?

We shall soon see. One safe prediction we can make about 2024 is that it ain’t over until it’s over and it’s going to be one hell of an interesting ride. Donald Trump is soon to be a man without a platform. And that $6 billion windfall? A mirage, friends, merely a mirage.

 

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5 COMMENTS

  1. Ma and Pa MAGA investors probably account for only a small fraction of the issued stock, with the balance being held by some very large institutional and billionaire investors. They can prop it up by buying whatever comes on the market. If TS crashes and burns along with trump, they will simply write off their loss against capital gains elsewhere, effectively transferring the loss to taxpayers. If he manages to be re-elected, their investment becomes a leash around his neck. No tax cuts, sell-off of federal lands, or environmental roll-backs and they yank hard.

    • Financial chicanery. Paper money. Legal bribery. Socialism for us, capitalism for you. Or… why we are still filthy rich and yall are not. Was waiting for one person to say what I couldn’t put into words (gears weren’t turning) and wonder how many in MSM just gloss over or just avoid the issue: taxpayers are paying for their BS. But let’s blame others for “wasting pennies here and there “.

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