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This is the Saudis and Russians putting in the bribe money in preparation for the election. This scam has always been a front for funnelling money to him. Watch him sell shares like a motherfucker and take his $10B bribe just in time to maybe end up in the Oval Office.
If he loses and the SEC is tracking down the sources of these trades, I can't wait to see the blood.
Look at this volatility, there is some crazy manipulation going on if within hours of a halt it's up that much.
It's funny how the stock suddenly started going up when a single crypto whale started pumping Trump on Polymarket, now there are these sudden crashes as if some large holder of DJT it dumping en masse, and the last time this happened Trump complained about the market not allowing the crash to continue. And all right after Trump and the other major holders became legally allowed to sell... weird.
Negative? Someone's paying you to buy it?
It's a bad headline, means negative for the day.
Although commodity futures can go negative in unusual situations. During the pandemic, oil prices went negative because demand was low and production was still high, so the cost of storing it was driving the price down. The fact that it went negative was mostly due to speculators though.
Oil futures were down. Not actual oil.
An oil future in WTI makes you legally obligated to pickup the oil in West Texas or along its pipe network (most common pickup point is Arkansas IIRC).
So let's say you bought an oil future for $0 at $0 a barrel. And now 10,000 barrels of oil are waiting for pickup. And let's say you are a New York speculator and not actually someone with storage.
How do you get rid of the contract before you are penalized? Well, you sell it at -$10. But the guy who bought it for -$10 was also a New York speculator who thought the price couldn't go any lower.
By the end of the day, the speculators were selling the contract for -$40 a barrel, because the penalty for missing the pickup date is very heavy.
Eventually, some trucker 'Bought' the contract at -$40 and made free money as the trucker just had to go there and pick up the oil.
As Brokkr pointed out, that it's just negative for the day, however it is up by quite a bit over recent prices. The true story here is 'Who is laundering their money through DJT?'... this is obviously someone jacking the price up to try to start a rally so trump can cash out before the election.
this is obviously someone jacking the price up to try to start a rally so trump can cash out before the election.
Gotta pay those lawyers they plan on using to overturn the election with something, and unlike the Habbas, Powells, and Giulianis, these lawyers want cash upfront.
This is and always has been nothing more than a glorified Las Vegas bet on whether or not Trump wins the election. People who think Trump is going to win are trying to get in on as close to the ground floor as possible.
If Trump loses, the investors lose all their money. Trump's stock price tanks and his dime store social media platform becomes even more obscure and worthless.
If Trump wins, Truth Social essentially becomes the official social media platform of the President of the United States. Regardless of what you think of Trump, his platform, or anything else, this will drive people to the site in droves. It will force people to pay attention even if they don't want to, because at the end of the day, he'll still be President and that's where all official information will be disseminated. It will bring in advertising revenue and the people who bought the stock previously will make absolute bank.
It's literally the equivalent of taking your entire life savings to the Roulette table and putting it all on #27. You're probably going to lose everything, but if you win, you're going to be set for life. That's what Trump's investors are doing. Except their odds are much, much better.
Why would anyone have to sign up to Truth Social to see what he's posted? Wouldn't a single bot reposting it elsewhere do the job?
I'm pretty sure Musk is on board to hand him back the POTUS Twitter handle and say any censorship or moderation would be unconstitutional and unpatriotic. Regardless of the result, probably. He will not care if Truth Social tanks if he's got that.
Why would anyone have to sign up to Truth Social to see what he’s posted? Wouldn’t a single bot reposting it elsewhere do the job?
For the same reasons anyone signs up for Twitter, or Facebook, or Reddit, or Lemmy. Just to be a part of it. Or maybe to curry favor with Trump. Or because their job requires it if they're a reporter. Or because they think they'll somehow profit off it. Or because they're cult members. Any number of reasons. Whatever the reason, my main point is that if Trump wins the Presidency, Trump Social becomes the de-facto social media arm of the most powerful and influential nation on Earth, which automatically means it goes from an also-ran Twitter knock-off to one of the world's most important social media network. This alone absolutely will drive up user counts, and therefore ad revenue, and therefore Trump's profits.
It's corrupt as all hell and he'll face.....oh, wait......never mind. It's legal now.
I’m pretty sure Musk is on board to hand him back the POTUS Twitter handle and say any censorship or moderation would be unconstitutional and unpatriotic. Regardless of the result, probably. He will not care if Truth Social tanks if he’s got that.
I will bet all my money that if Trump wins the election, Twitter and Trump Social will merge, it will be bought out in some shady and highly illegal deal where the government grossly overpays for both of them and they both walk away making billions, while Trump declares it an official government act and avoids prosecution.
I just love how much it must be hurting him to see his initials attached to a worthless share price
It's sitting at $50/share, and is near its all time high.
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https://www.cnbc.com/2024/10/29/trump-media-shares-halted-for-volatility-as-djt-rally-accelerates.html