NASDAQ Halts Sales of DJT stocks? No details yet...

[Dennis Donovan]

Link to tweet

Ron Filipkowski
We don’t know the details yet, but there’s been some shady shit going on with this deal from day one.

Hmm!

[TwilightZone]

1. If it was halted, it's because there was a jump in stock price when he said he wasn't selling.

https://fortune.com/2024/09/13/trump-media-stock-donald-trump-not-selling-djt-stock-lockup-period-truth-social/

I don't see anything about a trading halt in a quick Google search, but there might have been one if trading volume was really high. Or, as usual, he could just be full of it.

Non-paywall link: https://webcache.googleusercontent.com/search?q=cache:https://fortune.com/2024/09/13/trump-media-stock-donald-trump-not-selling-djt-stock-lockup-period-truth-social/

[moonscape]

3. Said he wasn't selling so

it would jump and he could sell.

[lamp_shade]

7. It jumped almost $4 at about 2:45 ET today.

[House of Roberts]

2. It should become a penny stock the day before he can cash out.

All the short sellers are going to come out very rich!

[keithbvadu2]

11. Why shorting Trump's DJT stock could cost you a 500% fee

Why shorting Trump’s DJT stock could cost you a 500% fee - MarketWatch

https://www.marketwatch.com/story/why-shorting-trumps-djt-stock-could-cost-you-500-61ffce5e

[House of Roberts]

13. So if there's no demand for buying to cover shorts,

there won't be anything to prop up the stock even a little.

[keithbvadu2]

15. Actually, pretty much the opposite. Not enough people willing to sell for them to cover the stock.

People short stocks because they expect it to go even lower so they can make money from the downside.

https://www.cnbc.com/quotes/DJT?qsearchterm=DJT

When Valujet hit the swamp, so many people shorted the stock that it went up in price because so many people had to cover and there was now a shortage of stock available to cover.

They had to buy so much stock that it was a seller's market for a short while.

https://www.nytimes.com/1996/07/05/business/market-place-valujet-stock-short-sellers-nightmare.html

-------------------------------------

I think it went down to the $4 range and went up around $12 range as people needed it.

[House of Roberts]

16. OK, which is it?

The Valujet example where demand went up because of a large number of short sales needing to cover, or the DJT example of so few shares available that it isn't lucrative to short because sellers who have shares are gouging those who need them to cover?

[keithbvadu2]

18. You got it right both ways.

[House of Roberts]

20. Ok dammit!

NOW you've confused me!

[keithbvadu2]

22. You want confusion? Try economics or statistics.

Economics tests have multiple choice answers that are one molecule apart in their differences.

Statistics have correction factors that seem to grow exponentially.

[House of Roberts]

24. I was a CNC Machinist.

My statistics have tolerances that can be measured and verified, recorded and corroborated. I never had to deal with much that was abstract.

[unblock]

4. Trading halts are somewhat routine, especially if there's big news.

They felt trading while there's a big order imbalance and trading resumes when orders are largely back in balance.

In and of itself, no big deal. Few people are really damaged by this unless I suppose you really really needed to sell during the few hours trading was suspended.

Donnie whining about this only shows he's an idiot who doesn't understand stock market mechanics.

[Klarkashton]

6. He's always the victim no matter what and he is always

"whhhhy I oughta!"

[Johonny]

10. I thinknwe can assume he knows nothing

About how stocks or the exchanges work

[Disaffected]

5. A good case in point as to why

short-selling is risky.

[moniss]

8. Isn't shorting restricted

with some stocks with a float below a certain level or am I thinking of a different time in history?

[Disaffected]

9. I dunno.

What's a "float".

[jmowreader]

23. "Float" is the number of shares available to trade

Here's a fun page about Trump Media and Technology Group stocks:

https://stockanalysis.com/stocks/djt/statistics/

This is the best part:

Income Statement
In the last 12 months, DJT had revenue of $3.43 million and -$379.18 million in losses. Loss per share was -$3.14.

[Kid Berwyn]

12. If Saudi Arabia and Crown Prince Bonesaw can give Jared a $2 Billion Tip...

...whatever bankrupt oligarch mafiyosoandsos can come up with a little scratch for Donnie's lawyers.

And the SCrOTUS is cool with it.

[Fichefinder]

14. Question for a finance person. At what point could a consortium step in....

and buy a controlling interest. Use all that software to create a better Twitter?😕

[WarGamer]

17. Trump owns the vast majority of the stock.

No matter how much stock you buy... you can't be the controlling Party.

[Fichefinder]

21. He will be legally able to dump his stock on Sept 20th and net 1Billion

Just sayin'

[WarGamer]

19. IT'S A VOLATILITY HALT.

DJT gained 25% in value within 15 minutes Friday afternoon...

ANY spike like that will see halts. It's just the rules.