Trump Media plunges more than 25% after company reports net loss of $58 million | Hacker News Reader

Trump Media plunges more than 25% after company reports net loss of $58 million

cnbc.com

28 pointspg_123417 comments

This was not an IPO, it was a transfer of money (including from foreign parties that might otherwise look suspicious) disguised as an IPO.

I'm pretty sure that's just an IPO, or at least a modern one, particularly where a SPAC is involved.

I bought a few shares of DJT after the IPO last week, hoping to get in on the pump and dump and sell sometime around the RNC (when I predicted the stock price would be at its peak). Unfortunately it looks like the dump part has come early and I sold today to cut my losses. Overall I lost about $40. Sad!

Come on, you could have at least hodled till then

Wasn't this expected? The site has like ~500k users and was valued at over $6b.

The loss was expected, and I think was noted as expected in the IPO filing; it lost a similar amount in 2022.

Edit: clarity.

How many of those ~500k users at a high level have differing thoughts? Like how do you stick out as 1 in 500,000 if everybody thinks the same way and shares the same kind of content and feels the same way about it?

What kind of content can you expect to find on Trump Media app? Is it like the same topic every single day? Doesn't that get old? How do you drive engagement?

Once you find 500k people who think the same way, how do you find the next 500k? If they don't think the same way, won't they feel like they don't want to engage with that platform because they won't fit in?

you stand out by finding ever more extreme beliefs and figuring out ways to present and explain said extreme beliefs in more palatable ways. you also must find ever more extreme examples of what "the enemy" is saying and doing to justify your extremity (whether said examples are totally out of context or totally made up is not important).

I recently saw a video that had been making rounds on truth social about how it's totally normal and acceptable that only men should vote. since the man is simply "representing" the family. just like we have representatives in a republic. thinking that everyone should vote is just a liberal, commie, Marxist idea.

I felt the same way about Twitter before Elon took over. I still dont use Twitter and it's the same reason, I wouldn't use trumps services. Neither are good for anyones mental health.

While I take it that you are serious in expressing this, there is no way this could be an actual reflection of the viewpoints actually expressed on Twitter. That seems completely implausible given the scope of the user-bases and just the posts I've seen anecdotally.

Twitter claims to have 368m users, worldwide.

I'm sure there are far more diverse views on Twitter than a "Trump social network with an echo chamber of 500k users"

I would be surprised to find that the majority of Twitter users all thought the same way socially, economically, spiritually, etc.

This must surely be the closest thing to a _pure_ meme stock in existence. There's nothing there but a small social network (apparently smaller than, say, mastodon.social). Like, the actual business is entirely extraneous to the stock price; it is the stock equivalent of a cryptocurrency.

I am 100% convinced that Trump Media is Trump's endgame graft. He stands to make literally billions upon billions of dollars from this unabashed scam, and I think selling MAGA suckers shares in his MAGA "Social media platform" might be the entire point of his political career thus far. He's long talked about wanting to start a media company, and I think the whole point of his run at the presidency was to validate whether people would pay attention to him at scale, which unfortunately has been thoroughly proven by this point, so now it's all about converting that attention into cash the most effective way possible for that's only accessible to the world's wealthiest folks, which is selling suckers shares in some pump and dump scheme.

Poor people run scams on the street, the wealthy run them on stock exchanges.

Really he's just kind of desperate for liquid cash right now, since he owes hundreds of millions in court settlements that he has never had. He's always been a stupid, low brow grifter, going as far as simply stiffing contractors who worked in his buildings and was such a bad bet for loans that he could no longer get credit in America.

That's why he is raiding the RNC, why he is pushing campaign contributions so much (remember when he was claiming "I'm so rich that I'm self funding my campaign?"), why he did the stupid NFTs, and why he did this IPO.

He's spent his entire life selling rocks to chronic bag-holders, who seem to be exactly the kind of person who wants to stand behind them. It's genuinely sad how much money he has stolen from the bag-holder class. They seemingly have no self awareness to see his greed or their, well, naivety. Every dollar they send him has been squirreled away for personal reasons, and yet they believe him to be their savior. I've never seen such gluttony for punishment.

I am 100% convinced most people can't help but be incredibly biased when it comes to anything Trump.

He's also long talked about the US being ripped off. Did his social media aspirations start in the 80s when he was talking about possibly running for president? This guy's views have been incredibly consistent over the years. As soon as he became a a viable political threat, people act as though he's the most evil person on earth, with only ulterior motives.

> Donald Trump Teases a President Bid During a 1988 Oprah Show

https://www.youtube.com/watch?v=SEPs17_AkTI

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.

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.

Reply on news.ycombinator.com