Trump ordered to pay $350 million for fraudulent business practices in New York

Ag3ma

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I imagine the plan is to try to con/salesman his followers into buying the stock at an inflated price as soon as he's allowed to sell it. Or to give people who want a hypothetical future president to owe them something another way to transfer bribes funds his way.
Quite possibly the latter.

Once he's president everyone who wants to curry favour with the US president can buy stock or advertising space, or maybe just foreign powers will start shifting media operations onto it. So, maybe the Saudi sovereign wealth fund or some of their princes decide it's a good stock to invest in, or Saudi Aramco decides to flash out $2 million on Truth Social advertising.
 
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Piscian

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Today in Trump world

Trump stock tanks after announcing massive share sale

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TBH IMO the trial isn't going to be particularly interesting. They are just starting Jury selection. I actually have to side with the altright lunatics on this trial. It's predicated on a lot and of moving parts. It's not gonna be as cut and dry as people think. Expect a lot of astonishing clickbait in the news, but I really doubt trumps gonna see the inside of a jailcell in the stormy daniels case.
 
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Ag3ma

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TBH IMO the trial isn't going to be particularly interesting. They are just starting Jury selection. I actually have to side with the altright lunatics on this trial. It's predicated on a lot and of moving parts. It's not gonna be as cut and dry as people think. Expect a lot of astonishing clickbait in the news, but I really doubt trumps gonna see the inside of a jailcell in the stormy daniels case.
Agreed. This is absolutely the least compelling of the legal actions against Trump, a stretch, where I would be not at all surprised to see him acquitted of most if not all charges and any potential sentence trivial.
 
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Gergar12

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Today in Trump world

Trump stock tanks after announcing massive share sale

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TBH IMO the trial isn't going to be particularly interesting. They are just starting Jury selection. I actually have to side with the altright lunatics on this trial. It's predicated on a lot and of moving parts. It's not gonna be as cut and dry as people think. Expect a lot of astonishing clickbait in the news, but I really doubt trumps gonna see the inside of a jailcell in the stormy daniels case.
I am predicting that if Trump wins 2024 it may go back up.

That said everyone should short it.
 

Piscian

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I am predicting that if Trump wins 2024 it may go back up.

That said everyone should short it.
I've been kinda avoiding any updates because on teh court side of things there hasn't been any pertinent updates, that said the DJT has bounced back up to almost $50

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That means if you had DJT stock before the merger you're still sitting at double your money. Market watchers have been very quiet with most sticking to the point that it's a timebomb because Truth Social doesn't actually make any money. You're gambling on ..simply people continuing to buy and that you somehow get out before people..stop buying and selling? Wallstreet is a fucked up place.


If you were hoping for logic to reassert itself in the Truth Social (NASDAQ:DJT) game, I’m afraid your hopes remain in vain. The social media platform’s shares soared over 10% in Monday afternoon’s trading, but when looking for reasons why, most came up with very little.




What’s more, the 10% shares were up as of this writing wasn’t even the high-water mark for the day’s trading. Indeed, just ahead of 1:00 PM Eastern, Truth Social shares were up over $5 per share for the day. But when attempts were made to ferret out why the surge happened to begin with, very little could be ascertained. A post from the former president in charge, Donald Trump himself, may have sparked some interest as Trump declared in all-caps: “TRUTH SOCIAL IS THE REAL VOICE OF AMERICA!!!”

Truth Social’s Press Releases Have Been Comparatively Quiet

Truth Social’s press releases have been comparatively quiet, with no major victories to point to as potential causes. It landed no sponsors, saw no surge in revenue, or anything like that. The latest press out of Truth Social itself was a release that, again, talked about the prevention of having shareholders’ shares used in shorting efforts.

The only other news item connected to Truth Social in recent days was a report from John S. Tobey, which noted that should Trump sell off shares, it would result in a rapid freefall for those shareholders who remained behind. This is likely true, given that Trump owns about 60% of Truth Social shares.

Is Truth Social Stock a Good Buy Right Now?

A look at the last five days of trading shows a steady rise at a surprisingly brisk pace. While no analysts have yet taken on DJT stock, investors definitely have, and shares are up 44.52% in accordance. Shares are on a fairly steady upward cant, with any downward momentum quickly overtaken by rallying action.
 
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Ag3ma

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That means if you had DJT stock before the merger you're still sitting at double your money. Market watchers have been very quiet with most sticking to the point that it's a timebomb because Truth Social doesn't actually make any money. You're gambling on ..simply people continuing to buy and that you somehow get out before people..stop buying and selling? Wallstreet is a fucked up place.
Sure. That's generally the way it works. A lot of stock market trading is effectively indistinguishable from gambling.

But a huge number of the shares are locked up with Trump and other founding cronies. Whilst only a very small proportion of shares can trade, it's easy for the share price to reflect a handful of small investors taking tiny nibbles. If it comes to offloading a significant number of shares, say hundreds of millions to billions, who's going to pick them up at $50 apiece? Who's even going to pick them up at $20? That will very likely need major investors, and I find it hard to believe many will be willing to bite. Any that do, it'll be corruption and buying favours.

I find this sort of thing demoralising. Trump is likely to walk away with hundreds of millions - or worse, billions - for effectively nothing. For being something like a cult leader, for nakedly manipulating political power for personal gain. It makes you realise why the world is fucked on the big stuff: because if you can fool enough of the people on the stuff that's transparently screwy, you can sure as hell fool enough of the people on stuff significantly less obvious.
 

Piscian

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Sure. That's generally the way it works. A lot of stock market trading is effectively indistinguishable from gambling.

But a huge number of the shares are locked up with Trump and other founding cronies. Whilst only a very small proportion of shares can trade, it's easy for the share price to reflect a handful of small investors taking tiny nibbles. If it comes to offloading a significant number of shares, say hundreds of millions to billions, who's going to pick them up at $50 apiece? Who's even going to pick them up at $20? That will very likely need major investors, and I find it hard to believe many will be willing to bite. Any that do, it'll be corruption and buying favours.

I find this sort of thing demoralising. Trump is likely to walk away with hundreds of millions - or worse, billions - for effectively nothing. For being something like a cult leader, for nakedly manipulating political power for personal gain. It makes you realise why the world is fucked on the big stuff: because if you can fool enough of the people on the stuff that's transparently screwy, you can sure as hell fool enough of the people on stuff significantly less obvious.
I'd have to dig up the article, but as of yesterday partners are released from holding the stock so the floodgates are essentially open for any and all trading. Yeah I'm sorted learning if theres an actual sell off the stock value essentially plummets so its not liek you can just sell 36 million shares today and expect to get $45 a piece. Supposedly we will know in the next week or two if the bottom will drop out in the short term.

Man the stock market is crazy. I'm just now learning just because a stock has a listed value its not actually sold at that. Theres like an actual negotiation that goes on. I've never bought stock in anything so its all a mystery to me. Talk about insanity.
 

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I'd have to dig up the article, but as of yesterday partners are released from holding the stock so the floodgates are essentially open for any and all trading. Yeah I'm sorted learning if theres an actual sell off the stock value essentially plummets so its not liek you can just sell 36 million shares today and expect to get $45 a piece. Supposedly we will know in the next week or two if the bottom will drop out in the short term.

Man the stock market is crazy. I'm just now learning just because a stock has a listed value its not actually sold at that. Theres like an actual negotiation that goes on. I've never bought stock in anything so its all a mystery to me. Talk about insanity.
Watch Dumb Money, it's fascinating.

And yes, the stock market is a scam, and it basically doesn't do anything that it was meant to. I say this as someone who actively trades stock and has friends in finance who do stock trading for a living.
 

Ag3ma

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Man the stock market is crazy. I'm just now learning just because a stock has a listed value its not actually sold at that. Theres like an actual negotiation that goes on. I've never bought stock in anything so its all a mystery to me. Talk about insanity.
Yes - but this actually makes sense. The people telling you what shares are worth in such listings aren't actually the share owner offering the sale of their shares. As an analogy, an estate agent can tell everyone that a house is worth £300,000, but it's the buyer/seller that decides what price it actually goes for. My understanding is that stock market share value is the average price that the shares are selling at over the day.

And yes, the stock market is a scam, and it basically doesn't do anything that it was meant to. I say this as someone who actively trades stock and has friends in finance who do stock trading for a living.
It's not just you. I remember a major guy at the FSA / BoE in the UK on retirement saying that a huge amount of the trading going on was of no societal value. It's supposed to be about the allocation of wealth to the most productive ends, but much of it is just gambling.

A friend of mine worked in software development for an investment firm. His view was that beating the market was really all about having inside information - networking to slip traders the nod on internal goings on that the traders technically shouldn't know.
 
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Silvanus

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Is this the right thread...?

Trump found guilty on 34 counts of Felony falsification of business records.
 

meiam

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Is this the right thread...?

Trump found guilty on 34 counts of Felony falsification of business records.
I am genuinely surprised, I would have bet good money on an hung jury.

But realistically, it'll go trough a million appeal, either Turmp win next election, in which case everything will be discarded, or he lose and they'll throw the book at him.

Still nuts that they actually convince him.

Associate press website is down atm, worse timing for them!

Should add, that will probably help him in the next election, people love underdog and rebel, him getting guilty over what a lot of people will consider technicality will just help his case. Before he started to have serious problem with justice, he was losing popularity and people in the GOP were already talking about getting rid of him. That all disappear once they release his mugshoot.
 
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Worgen

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Whatever, just wash your hands.
But realistically, it'll go trough a million appeal, either Turmp win next election, in which case everything will be discarded, or he lose and they'll throw the book at him.
This is a state crime so no amount of him being president can let him pardon himself. I mean enforcing it while hes in the white house, should he somehow fucken manage to win the minds of the feeble to vote for him.
 
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Agema

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His supporters won't care. In their eyes, Trump is the law.
Yes. That's why he bangs on about corrupt Democrat lawyers / judges / etc. so much: when he gets punished in court for breaking the law, he wants to lose minimal votes.
 

Agema

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Still, it's going to be exciting for you guys in the USA: the next president of the USA is going to be a convicted felon!
 

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While its fun that Trump is a convicted felon I don't think this changes much. If Trump organizing a coup didn't drive his voters away then I don't see why lying about paying a porn star would. In all likelihood he's still going to be the next president because the US electorate seems wildly out of wack.