Trump's business genius and Trump Media stock

[onenote]

Next time a MAGA cultist talks about Trump being a business genius, point them to a chart showing the price of Trump Media stock.

At its launch in 2021, it closed at over $120 share. By the end of 2022 it was below $20/share. In 2024, for no particular reason, it got pumped back up to around $60/share. But since then, it has continued to look like the terrible investment it was -- it has struggled to stay above $10/share this year and currently is barely above $9

The only thing that stock is good for is harvesting capital losses as a tax offset, and while that probably works out well for Trump's billionaire buddies, most of the MAGAs that spent $$ for the stock probably don't have any gains to offset.

So much winning.

[bif]

1. And remind them how many times he's filed for bankruptcy.

[niyad]

7. That does not matter to them. I actually had one idiot during the first

campaign tell me that all the bankruptcies showed what a brilliant businessman he was. I said, well, if you mean he screwed all the investors out of their money, and didn't lose a dime of his own, I guess you could say that. Others say he is a vicious, thieving, lying, predatory scumbag. Remind me to keep my eye on my purse whenever you are around. (He was, at the time, married to the daughter of a friend of mine, so I encountered him on occasion. The daughter divorced him several months later.)

[PCIntern]

8. I know exactly where you're coming from

I remember in the early 1980s all these rich people who were patient of mine used to say that unless you had been through bankruptcy, you weren’t considered a success.

“Whatever “

[niyad]

9. You are far more patient than I. Holding instruments while they made

such statements. . .ohh soooooo tempting!!!

[ProfessorGAC]

11. Well, That Statement Is Just Stupid!

Nearly 90% of US billionaires have never filed for bankruptcy.
90% of billionaires failed? That seems odd.
Plus, The Failure didn't need to borrow money to get a business off the ground. He grew up rich. He should never have had to risk more than he could repay.
His bankruptcies were a signal of failure!

[PCIntern]

12. Of course it is

It’s the rich telling the poor that failure is expected and even desirable

[TommieMommy]

2. Seems like everything he touches turns to 💩

[Wuddles440]

5. Almost everyone...

except for him, family members, and a few cronies.

[tanyev]

3. He's got a knack for getting money out for himself and leaving everyone else high and dry.

But that doesn’t take genius, just complete shamelessness and entitlement.

[malaise]

4. The Truth. - K & R

ror visibility

[modrepub]

6. For Most Normal Folks

Bankruptcy is a major financial trauma. Stock performance like this gets board members fired. But not the super rich or well connected.

I believe or country would function a hell of a lot better if normal rules applied evenly across society. Imagine what our healthcare system would be like if Congress critters and Healthcare CEOs had to wade through doctor visits like the rest of us stiffs. It’s called skin in the game.

[cliffside]

10. Kick nt