Reader pgl points out the recent heightened correlation between DJT (Nasdaq ticker) and Trump’s electoral fortunes.
Source: Investing.com, accessed 7/23/2024, 1:15 PM ET.
Source: PredictIt.com, accessed 7/23/2024, 1:15 PM ET.
Note the correlation is clearest in the last month.
You’re literally trying to save me from going to the bathroom and searching for razors , aren’t you Menzie?? well it workes this 5 minutes : )
Looking at the 10-Q for the quarter ended 3/31/2024 for DJT. Revenues are only $770.5 thousand. Cost of operations nearly $100 million.
Interest expenses and other financially related losses nearly $230 million. So total income around negative $330 million.
And that is in just 3 months! Trump is running this company the same way he ran the Federal budget.
One possibility that is less happy than just “bleeding money” – various people associated with the business may be paying themselves large sums. That is how private equity bleeds money out of businesses they own. The indebted husk is discarded after everybody associated with it has sucked it dry.
Just a possibility.
exactly where are they getting the funds to continue operations?
Borrowing.
Trump Media CEO David Nunes, former chairman of the House Intelligence Committee (now there is some irony), sent an official letter to the SEC in May whining that too many people were shorting his stock and imploring the SEC to make them stop.
The question is when will Trump be allowed to start selling his shares? That will be when shares take a real dive. A lot of people will take short positions before that date and then plan to harvest sometime after the election.
The stock price has fallen below $31 a share. I guess little Ricky Stryker is now on welfare.