Trump Media & Technology Group Corp’s public stock continues it’s move downward cutting it value and it’s amount of worth to majority stock holder Donald Trump….
If you rbrought the stock on Tuesday?
Selling it would have you LOSING $10 a share…..
And folks?
It’s gonna KEEP dropping in price….
It opened at around $70 a share initially ….
Today it closed at $61.96 a share…..
There’s sucker born every minute, eh?
They say the bigger they come, the harder they fall. That reckoning always comes eventually for meme stocks — and Trump Media & Technology Group appears to be no exception.
Donald Trump’s namesake social media company burst out of the gate on its first day of trading Tuesday, opening at $70.90 and soaring as high as $79.38 as Trump fans and opportunistic traders bought up shares. But the price faded late in the session and has bounced along at lower levels ever since, ending Thursday down $4.26 at $61.96.
Its market valuation, just over $8 billion, is still stunning for a social media fledgling with an unproven business model that has struggled to attract users and advertisers, burned through cash and racked up losses.
“The valuation of the company should be several hundred million, not the billions it is currently valued at,” University of Florida professor Jay Ritter said.
Thursday’s slide into the red could be just the beginning, market observers say. Ritter predicts the vanity stock ticker DJT will bottom out around $2 a share – or worse.
“The stock will continue to be very volatile, with sharp moves up and down. But the long-term trend will be down,” he said. “The company has about $2 in cash per share, but it will probably burn through that money and the most likely outcome is eventual bankruptcy.”
Trump also used a vanity ticker for his Atlantic City casino business, Trump Hotels and Casino Resorts, when it went public in 1995. The company never turned a profit and ended up bankrupt in 2004…..
Note….
I smelled dogshit in this from the jump and this stock will probably end up in junk bod or penny stock territory….
Trump will get no value from this , another one of his dances in perception wealth…
He IS probably on his way STILL be broke…..
He certainly STILL does NOT have the money to pay the entire $450M judgement ….
Update….
Trump’s Trump Media stock trades down to $61.96…..down from it’s high of $79.38….
It opened at $66.22 today….
Elevator keep going DOWN⬇️