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I’m surprised the loss caused a plunge. It’s still trading at many thousands of times possible future earnings, I wouldn’t have thought the majority of owners a

I’m surprised the loss caused a plunge. It’s still trading at many thousands of times possible future earnings, I wouldn’t have thought the majority of owners are expecting positive earnings any time soon. I think it was a Bloomberg opinion columnist who suggested that Trump Media shouldn’t be treated as a normal stock or even a meme stock but as a Donald Trump Crypto Coin which will be mostly bought by his fans and the price will match his popularity and how much he’s in the news.

rsynnott 3y ago
This tends to happen with meme stocks; even though the valuation makes absolutely no sense, it responds to bad news _somewhat_ as if it were a real valuation. For instance Gamestop recently fell by 15% on poor earnings. This still leaves it with a market cap of 4bn, which is nonsensically high, but it _did_ react to news somewhat is if it were a real stock. I'm a bit unclear what the actual mechanism is here, but it is A Thing.