WTF? Trump Media DJT is up today

[surfered]

Its most recent price is $28 per share. Based upon the number of shares outstanding, the company's worth is an inexplicable $5.68 billion with a B, considering the company's total revenue last year was only $4 million. That's not net earnings, that's gross revenue! Net earnings last year was a loss of $58 million.

I am at a loss for words. Why would any sane person buy a company for $5.68 B that only had $4 M in gross revenue and lost $58 M?

[Gore1FL]

1. It's a meme stock.

Ultimately it will be valueless. In the meantime, it will go up; it will go down.

There are too many people gaming it. It's best to be avoided.

[jmbar2]

2. Elon, money-laundering, and WallStreetBets bros manipulating it for quick scalps

...and Crypto bros. Same kind of manipulation is going on in the election betting markets. IOW, rich folks gambling.

[vapor2]

4. Good insight!

[C_U_L8R]

3. In the end, there will be tears

Sweet sweet magat tears after they blow their retirement savings on this worthless cartoon stock.

[samsingh]

5. this is probably rich traitors buying up the stock to launder money to trump

[Walleye]

6. I'm going with bribery and corruption, that's usually the answer with Trump

Of course the market overall is way up too

[WarGamer]

7. this has been explained 100x here.

The value is NOT in the company.

The value is in the majority owner of the stock who will smile upon those who hold shares in his company.

AKA... legal slush fund.

[Fullduplexxx]

8. Trading was automatically shut down due to steep drop