Truth Social Hits All-Time Low as CEO Sells His Crashing Stock
Truth Social Hits All-Time Low as CEO Sells His Crashing Stock
The share price of former president Donald Trump's Truth Social meme stock has plummeted to a new low.
Unfortunately, Trump will still likely come out much richer than he was before. It's still nice to see.
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then: the pump now: the dump
They might have forgotten the pump part.
The P/E on DWAC was so comically high. This was a company with a $7B valuation after earning, like, $3000 in a year. They were selling shares in a circa 2022 Mastadon instance that had never been upgraded. It was pure pump.
dont forget about the revenue income, they pulled in what like, a few (ten/hundred?) million of revenue in a year?
they did the pump part... They just forgot that the value was supposed to go up, it's literally schizo meme stock economics.
That's because they replaced it with the trump part
the ole trump and dump