Accounting Firm for Trump Media Quit

Trump Media Has Lost $7 Billion in Value

www.cbsnews.com

Are you tired of winning yet, me boys?

#1 | Posted by reinheitsgebot at 2024-04-16 06:34 AM | Reply | Funny: 1

Three card brag is a simple form of poker; you are dealt only three cards and these you can't change. If you don't look at your cards you're a `blind man' and you only put in half the stake. Three of any kind is the highest you can get: the odds are four hundred and twenty-five to one. Then it's a running flush - you know, all the same suit running in order; then a straight, then a flush, then a pair, and finally whatever the highest card you are holding. There are some tell-tale signs that are valuable; I am not going to tell you them because it took me long enough to learn them, but these can only help a player, not make one. So you want to play?
~ "Eddie"
Lock, Stock and Two Smoking Barrels

#2 | Posted by Doc_Sarvis at 2024-04-16 07:47 AM | Reply

On top of discovering financial shenanigans, they probably weren't getting paid. As is Trump's wont.

#3 | Posted by censored at 2024-04-16 09:13 AM | Reply | Newsworthy 1

That DJT stock? Winnah, winnah, we ain't gonna have no chicken dinnah. As of 12:55 today it's continuing that steep slide into oblivion, down 13.45% in price since the close of business yesterday. See www.cnn.com

#4 | Posted by Doc_Sarvis at 2024-04-16 01:01 PM | Reply | Newsworthy 1

Trump's stock tumbles again after Truth Social announces it's getting into streaming
www.cnn.com

New York -CNN
Investors in Trump Media & Technology Group's stock are throwing in the towel.

Shares of TMTG (DJT) tumbled 11% Tuesday after closing 18% lower Monday. Driving the stock lower Tuesday: The company's premier product, Truth Social, announced a major expansion into streaming, a notoriously cost-intensive business in which media behemoths like Disney have struggled to turn a profit.

TMTG's stock, majority-owned by former President Donald Trump, is down 70% from the all-time high it set on March 26, the day after it merged with a blank-check acquisition company to go public. Although the company is still worth billions of dollars, it is struggling to make money and desperate for cash. Experts have warned investors to be careful if they choose to trade the stock, because the company doesn't have the fundamentals to back up its sky-high valuation.

Trump Media lost $58 million in 2023 and made just $4.1 million in revenue. So, it announced Monday it would sell 21.5 million more shares to the public to raise cash " even though that would dilute the value for existing shareholders.

There's definitely more than one born every minute. This is gonna hurt some folks, real bad.

#5 | Posted by Doc_Sarvis at 2024-04-16 01:13 PM | Reply | Newsworthy 1

This is gonna hurt some folks, real bad.
#5 | POSTED BY DOC_SARVIS

Maybe THIS is the "bloodbath" that Trumpy was gibbering about.

#6 | Posted by donnerboy at 2024-04-16 01:15 PM | Reply | Funny: 1

[...] This is gonna hurt some folks, real bad. #5 | Posted by Doc_Sarvis

Fortunately, he is "hurting the people he needs to be hurting."

#7 | Posted by censored at 2024-04-16 03:54 PM | Reply | Newsworthy 1

Trump don't need no stinkin' audit watchdogs. Jus' take his word for it.

Buy NOW! ~ Daddy needs yo money.

#8 | Posted by Twinpac at 2024-04-16 04:08 PM | Reply | Funny: 1

Interesting...very interesting...
so an accounting firm quits Trump
Media, and Truth Social makes a 13%
recovery today. Connection? Propping
up money introduced before the election?

Inquiring minds would like to know!

#9 | Posted by earthmuse at 2024-04-17 11:44 AM | Reply

" Truth Social makes a 13% recovery today."

Dead Baby bounce.

#10 | Posted by Danforth at 2024-04-17 11:45 AM | Reply

He doesn't need to pay accounting firms to launder money. Save the money, he's just stealing out in the open now. Because, who's going to do anything about it, really?

#11 | Posted by chuffy at 2024-04-17 11:48 PM | Reply

@#10 ... Dead Baby bounce. ...

The phrase I've seen is "dead cat bounce."

But, yeah, the same concept.

DJT will be interesting to watch, especially the volume vs price movement.

Then there's things like this...

Investing in Trump Media is an act of faith,' expert says. Here are some risks involved
www.cnbc.com

... Trump Media

has become the latest stock to watch.

But rather than a meme stock " an investment that becomes popular for individual investors through social media " the company is more of a personality stock, according to John Rekenthaler, vice president of research at Morningstar.

"The reason that people own this stock is because, in one way or another, they support Donald Trump," Rekenthaler said.

"It's an act of faith," he said.

The former president is the majority shareholder in Trump Media, which trades under the initials of his name, DJT, on the Nasdaq. The stock got off to a rocky start this week, with two straight days of losses, though it was up more than 20% on Wednesday afternoon.

The company's mission statement is to end "Big Tech's assault on free speech by opening up the internet and giving the American people their voices back," according to its website. ...

[emphasis mine]

#12 | Posted by LampLighter at 2024-04-18 12:28 AM | Reply