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Truth Social, meanwhile, gained 10% today, now worth $5 billion on the revenues of a local taco chain and the net losses of a foundering 19th-century industrial
by jeffbee 3y ago
Truth Social, meanwhile, gained 10% today, now worth $5 billion on the revenues of a local taco chain and the net losses of a foundering 19th-century industrial empire. So we can stop pretending that stock prices mean things.
- dkjaudyeqooe 3y agoStock prices do mean things, just not the things people think they do.
- mywittyname 3y agoThere are companies for whom stock price in meaningful, and other companies where prices are fueled by teh greater fools theory. Meta is huge, it's a staple of numerous large funds and practically every American investor out there owns a stake in it. Significant movement in their stock price indicates something is going on. Truth Social is a meme stock whose price is driven up by people looking to make a quick buck playing hot potato. Very few holders give a damn about the long-term viability of the company. Most are looking to ride the pump-and-dump.