Bears and Trump bashers are underestimating TMTG's long-term potential. Polls often have internal flaws that result in lower numbers for Republican candidates such as Donald Trump. For a number of reasons, Trump may not sell stock when the lock-up period ends this month.
Last Thursday (August 30), a news report described this Sarasota, Florida, court's denial of Trump Media's request: (Underlining is mine)
Shares of Trump Media & Technology Group — the company that runs Trump's Truth Social app — have plummeted. Trump Media/Truth Social is a meme stock, so that's not a total shock.
Trump Media & Technology Group Corp.'s stock fell 5% on Wednesday to drop below $20 a share for the first time since the company merged with a special-purpose acquisition company earlier this year.
Trump Media has tumbled to its lowest levels since the stock made its debut in March. Donald Trump will be allowed to sell the embattled shares in September.
Trump Media stock is now falling through the $25 to $17.50 major breakdown area. At $17.50, the January start price, all the pre- and post-merger excitement and expectations will wash out.
Trump Media, the company majority-owned by former President Donald Trump, fell below $20 per share for the first time since the Truth Social maker started publicly trading. Trump's stake of DJT stock is still worth more than $2.2 billion — more than half of his on-paper net worth, according to Forbes.
We're now in the thick of election season, with less than three months to go heading into the upcoming November U.S.
Donald Trump said Elon Musk likely couldn't serve in his White House cabinet if he were elected due to the demands of running his various companies. As recently as two years ago, Trump and Musk were in an open feud, exchanging insults on public forums like social media and at political rallies.
Trump is the dominant presence on Truth Social. Other social media sites appear to dominate the market.
Once again, Trump Media had to correct a major misstep. And, once again, shareholders got an unsatisfactory explanation.
Stocks that have fallen sharply in value can sometimes be attractive buys on the dip. But when it comes to companies with poor financials, investors are often better off letting them continue to fall.