Trump Media & Technology Group, the owner of struggling social media platform Truth Social, is began its long-delayed journey as a public company at Tuesday’s opening bell under the ticker symbol “DJT.”
The stock surged about 56% at the open, to $78, and trading was briefly halted for volatility. Trump Media shares have since stabilized at around $70, marking a 40% increase from Monday’s close.
Wall Street is assigning Trump Media an eye-popping valuation of around $13 billion — a price tag that experts warn is untethered to reality.
The skyrocketing share price comes despite the fact that Trump Media is burning through cash; piling up losses; and its main product, Truth Social, is losing users.
“This is a very unusual situation. The stock is pretty much divorced from fundamentals,” said Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business, who has been studying initial public offerings (IPOs) for over 40 years.
The best and most expensive megaphone. It’s so great. You can write all these beautiful letters on it and you know folks, I can see those letters. Millions and millions of letters, in fact we have the best letters in the entire alphabet, it’s true. Nobody on the internet has such a beautiful letters as I have. I practically invented them. And you can own some of those letters by buying the best stock on the market. It comes with a special orange colored email when you buy them. Just that email will be worth a gazillion because of contains my letters.
Make the internet GREAT AGAIN, folks !!!
I mean I was looking at it this afternoon market cap of 2.7 billion for a bunch of dumb angry people, who are listening to their obesed, dementing orange wannabe Jesus. It shows as someone else mentioned in this thread, (some) tech companies are just inflated air castles. If Trumps platform 2.7b worth the the real Jesus Must be a multi trillionaire