Some investors have already lost half their money

[struggle4progress]

By Matt Egan, CNN
Updated 12:30 PM EDT, Fri April 12, 2024

Shares of Trump Media & Technology Group are in free fall.

The Truth Social owner’s share price dropped another 5% as of mid-day Friday, leaving it on track for a seventh losing day out of the past eight ,,,

Trump Media is now trading below $31. That’s a far cry from the intraday spike to nearly $80 on March 26, the day it went public on the Nasdaq under the ticker symbol “DJT.”

In fact, anyone who bought Trump Media at the closing high of $66.22 on March 27 has now lost more than half of their money ...

https://www.cnn.com/2024/04/12/business/trump-media-stock-truth-social/index.html

[struggle4progress]

1. Greene won't say what happened to her Trump Media stock

PUBLISHED FRI, APR 12 202410:30 AM EDT
Brian Schwartz

Rep. Marjorie Taylor Greene, R-Ga., doesn’t seem eager to discuss the struggling business, years after she purchased shares in a company that helped Trump’s business go public on the Nasdaq ...

Asked by CNBC and NBC News, Greene wouldn’t say what happened to her stock in Digital World Acquisition Corp., which, through a merger with Trump Media and Technology Group, recently started publicly trading as DJT. The share price is down at least 45% month to date.

Trump Media is the parent company of the former president’s social media app, Truth Social. Shareholders of DWAC voted to approve the merger with Trump Media in order to take the company public on March 22, with the company debuting on the Nasdaq on March 26.

Greene is one of two members of Congress who disclosed buying shares in Digital World Acquisition Corp. She and Rep. Larry Bucshon, R-Ind., each bought stock in the company in October 2021, according to financial disclosure reports, the same month the company announced it had completed a deal with Trump Media to merge the two entities, with the goal of the Trump business publicly trading on the stock market ...

https://www.cnbc.com/2024/04/12/marjorie-taylor-greene-wont-say-what-happened-to-her-trump-media-stock-.html

[Qutzupalotl]

8. ...down "45" percent

How appropriate.

[C_U_L8R]

2. The poor dopes who took stock options in lieu of salary

That's gonna make some uncomfortable kitchen table discussions. Should have quit before they even started.

[getagrip_already]

5. Depends when they they vest and when they sell.....

Tax laws can brutal on options if you acquire shares and hold them, and then the price falls.

The irs calculates your gain at the price you pay for them (typically pennies) against the value on the day you receive them. They don't care what happens to the value again until you sell them.

So on paper, you can literally make millions (or in tsf's case, billions), on day one, which will be 100% taxable.

If the stock falls to zero before you sell, tough toenails, you still owe the tax.

I know otherwise smart engineers who were wiped out this way thinking their stock would be gold mines. Not so much. Bankrupt and broken.

Always sell enough to pay your taxes.

[Ocelot II]

3. My heart bleeds for them.

[we can do it]

4. HaHaHaHa😹😹😹

[ProfessorGAC]

6. Given That The Last Time It Was Lower Than Today...

...was January 19, a pretty significant number of "investors" have lost something on it.
For about 7 weeks, there were several trading days with volume of 800k to 3.3M, so lots of people were buying at $40-50.
Not a loss of one-half, but 25-40% is pretty bad.
Don't worry though, those that got on early (or were gifted shares) did just fine. I know we were all worried about them.

[durablend]

7. Tots and pears

where's my tiny violin?

[Delmette2.0]

9. None of them believed us .....

Every thing trump touches dies.

[SouthernDem4ever]

10. It's still way over value

Let me know when it hits one dollar a share.

[Ping Tung]

11. Trump Media price is like Trump's penis.

He can't make it go up and nobody wants to see it.

[Glamrock]

12. Oh my god!

[Ping Tung]

13. Disclaimer

I'd like to take credit but a friend sent it to me regarding another of Trump's absurdities/

[Ponietz]

20. Or...

He stiffs everyone. The difference this time? His marks are consenting and over 18.

[eggplant]

14. Supposedly it is the "most shorted" stock on NASD.

[AllaN01Bear]

15. fools and their money are soon parted . how true.

[orwell]

16. From a chart perspective...

...the break below 32 this morning is significant. A close below 32 implies further weakness, possibly dramatic weakness.

From both a fundamental and a technical basis this stock looks like a disaster.

That being said, this is a meme stock at this point which means it is divorced from reality...similar to your average MagaMind.

Anything is possible in BizzaroMagaWorld...

[Ponietz]

17. A scam we're witnessing in real time:

https://www.marketwatch.com/story/cha-ching-trump-on-track-for-1-billion-stock-bonus-while-outside-investors-lose-up-to-50-601a66ce?mod=mw_quote_news

[oasis]

18. Weo weo now dive, dive.

[PatSeg]

19. A really dumb investment

All indications were that the stock was seriously overvalued. If they were dumb enough to buy the stock, they shouldn't be surprised by their losses.

[Wednesdays]

21. And anyone who bought that stock "on margin" (borrowing from the broker) at anything more than 1:1

is now bankrupt.


On edit: we saw this happen to the Duke brothers at the end of "Trading Places." They were so confident the futures market would skyrocket, they bought "on margin" at the opening. When the prices plummeted after the report was announced, they were on the hook for probably ten times the amount they could pay at the "margin call" at trading close, completely wiping them out.

[Takket]

22. imagine believing the valuation given by a person literally convicted in civil court of overvaluing things

[Kennah]

23. Half down, half to go

[ecstatic]

24. suckers! nt