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$2.5M revenue, $52M loss. What even is that? [1]: https://companiesmarketcap.com/trump-media-technology-group/earnings/ https://companiesmarketcap.com/trump-me

• ceejayoz 2y ago
  A way for foreign nationals to donate billions to a US presidential campaign legally.
  • rubyfan 2y ago
    The thing stinks to be sure but you need more evidence to make that claim.
    • ceejayoz 2y ago
      Presidential candidates are allowed to use unlimited personal funds in their campaign. Trump owns billions of $DJT stock. His lockup period ends well before the election. The share price can be manipulated at will given enough money, the Saudis have plenty of that, and there’s already a good track record of them using it this way; a $2B investment in Trump’s son-in-law “despite objections from the fund’s advisers about the merits of the deal”, as an example. https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-in...
    • bilekas 2y ago
      Donald Trump's hotels and other businesses accepted more than $7.8m (£6.1m) from foreign governments during his presidency. This is not news.
      • deleted 2y ago
        [deleted]
  • YetAnotherNick 2y ago
    Why is the valuation so high then? Surely all the HFTs have enough money to short it and earn money off of it. I think a company with $0 valuation would be easier to transfer money. As only he could sell his share for >$0 for donation.
    • pavlov 2y ago
      To short, you need to pay to borrow shares. And that’s not easy on a stock like DJT. It has a small float, and since professionals consider it overvalued, the premiums are unusually high. It also has an army of retail fans who can produce surprise spikes, meme stock style. Hedge funds make their money with trades that are not obvious to everyone, because if they were, they’d be too crowded. “Short DJT” is definitely in that category.
    • ceejayoz 2y ago
      > Surely all the HFTs have enough money to short it and earn money off of it. They asked their shareholders to disable short loans (https://www.bloomberg.com/news/articles/2024-04-18/trump-media-djt-advises-investors-on-stymying-shorts-after-stock-selloff https://www.bloomberg.com/news/articles/2024-04-18/trump-med...). Before that, everyone was already shorting to the point of 500% fees. https://www.morningstar.com/news/marketwatch/20240406227/why-shorting-trumps-djt-stock-could-cost-you-a-500-fee https://www.morningstar.com/news/marketwatch/20240406227/why... "Based on that data, to short 100 shares of Trump Media & Technology Group at the current price, it would cost between $24,895 and $29,874 a year. That means the stock would have to fall about 1.4% a day just to cover the cost of shorting it. And if the short were held for a year, the bet would still lose about $20,000 to $25,000, even if the stock price fell to $1."
  • throwaway_e66m 2y ago
    There are perhaps other ways, too. Why Did the Saudi Regime and Other Gulf Tyrannies Donate Millions to the Clinton Foundation? http://theintercept.com/2016/08/25/why-did-the-saudi-regime-and-other-gulf-tyrannies-donate-millions-to-the-clinton-foundation/ http://theintercept.com/2016/08/25/why-did-the-saudi-regime-... Clinton's foundation got millions from Saudis, Gates: https://www.cnn.com/2008/POLITICS/12/18/clinton.donations/ https://www.cnn.com/2008/POLITICS/12/18/clinton.donations/
    • ceejayoz 2y ago
      I have little doubt there are many ways. These are a bit harder to directly pull a billion dollars out of, though.