I may be kicking myself for the rest of my life for not shorting Truth Social stock when I had the chance. For those who aren’t as financially savvy as I like to pretend to be, shorting a stock is when you find a big, puffed-up, slovenly loser who smells like a sea lion exploded inside a pair of golf pants and bet against his business.
When Donald Trump, who once named glitching brain stem Rudy Giuliani as his cybersecurity adviser, announced he was starting a social media company, it looked like a sure loser. Much like Trump himself. For some reason, I figured the guy who couldn’t keep a casino company solvent would have trouble taking on well-established tech giants like Twitter. But I didn’t have enough experience in stock trading to pull the trigger—even though the failure of Trump’s new vanity project seemed as inevitable as the heat death of the universe.
Well, it looks like I was right all along. And the worst part about this missed opportunity is that if I’d shorted Trump Social stock from the outset, I would have literally been taking money from Rep. Marjorie Taylor Greene, who bet big on the company and has since lost thousands of dollars.
On Thursday, Digital World Acquisition Corp. (DWAC), the special purpose acquisition company that plans to merge with Truth Social, saw its stock dip 5%, extending its weeklong drop of 32%. In March, the stock traded at $97 per share. It’s now at $16.50, and unless the company can find a quick and easy way to monetize stolen nuclear secrets, it may fall further.
But that’s not all! Institutional investors are losing confidence in the stock now, too.
Reuters:
Reuters added that more big investors could ditch the stock in the coming weeks, since they’re allowed to void their deals anytime after the deadline.
In a recent whiny statement that was written by either Trump himself, an AI Trump-bot, or a dyspeptic prairie chicken with an overweening fondness for Adderall, the company pointed its creepy little fingers elsewhere:
Of course, the SEC is investigating the Trump-connected SPAC because the deal looks shady—like everything else Trump lays his oleaginous, preternaturally wee digits on. The agency is reportedly looking into whether DWAC negotiated its deal with Truth Social before going public—a move that would have been illegal.
But hey … legal, illegal? It’s all the same to Trump. What this guy cares about is grifting as much cash from his goober brigade as possible, but for once the government—and common sense—might actually stop him.
Check out Aldous J. Pennyfarthing’s four-volume Trump-trashing compendium, including the finale, Goodbye, Asshat: 101 Farewell Letters to Donald Trump, at this link. Or, if you prefer a test drive, you can download the epilogue to Goodbye, Asshat for the low, low price of FREE.
When Donald Trump, who once named glitching brain stem Rudy Giuliani as his cybersecurity adviser, announced he was starting a social media company, it looked like a sure loser. Much like Trump himself. For some reason, I figured the guy who couldn’t keep a casino company solvent would have trouble taking on well-established tech giants like Twitter. But I didn’t have enough experience in stock trading to pull the trigger—even though the failure of Trump’s new vanity project seemed as inevitable as the heat death of the universe.
Well, it looks like I was right all along. And the worst part about this missed opportunity is that if I’d shorted Trump Social stock from the outset, I would have literally been taking money from Rep. Marjorie Taylor Greene, who bet big on the company and has since lost thousands of dollars.
On Thursday, Digital World Acquisition Corp. (DWAC), the special purpose acquisition company that plans to merge with Truth Social, saw its stock dip 5%, extending its weeklong drop of 32%. In March, the stock traded at $97 per share. It’s now at $16.50, and unless the company can find a quick and easy way to monetize stolen nuclear secrets, it may fall further.
But that’s not all! Institutional investors are losing confidence in the stock now, too.
Reuters:
Reuters added that more big investors could ditch the stock in the coming weeks, since they’re allowed to void their deals anytime after the deadline.
In a recent whiny statement that was written by either Trump himself, an AI Trump-bot, or a dyspeptic prairie chicken with an overweening fondness for Adderall, the company pointed its creepy little fingers elsewhere:
Of course, the SEC is investigating the Trump-connected SPAC because the deal looks shady—like everything else Trump lays his oleaginous, preternaturally wee digits on. The agency is reportedly looking into whether DWAC negotiated its deal with Truth Social before going public—a move that would have been illegal.
But hey … legal, illegal? It’s all the same to Trump. What this guy cares about is grifting as much cash from his goober brigade as possible, but for once the government—and common sense—might actually stop him.
Check out Aldous J. Pennyfarthing’s four-volume Trump-trashing compendium, including the finale, Goodbye, Asshat: 101 Farewell Letters to Donald Trump, at this link. Or, if you prefer a test drive, you can download the epilogue to Goodbye, Asshat for the low, low price of FREE.