On the upside, CNBC ran a story yesterday headlined, “
DJT: Why Trump Media shares closed more than 12% higher.” Of course, after reading the article we discover they
don’t know why. The “why” headline is corporate media’s clickbait version of “one weird trick.”
The article referred to the initial public offering of Trump Media, which was the nearly miraculous billion-dollar save the Trump team pulled out of thin air last month to pay for the appeal bond on his other ridiculous, victimless case about criminally overvalued real estate.
“We’re selling this so cheap it should be a crime!” Guess what? It is!
Buy, sell, buy again. Baffled, perplexed, and confused, CNBC noted Trump’s stock shot up despite “any significant news about the company’s bottom line improving.” But it later quoted a University of Florida business professor that called DJT a “meme stock.”
“Meme stock” is a derogatory finance slur, implying that a stock’s market value is disconnected from its underlying business performance or future business prospects. Which in DJT’s case happens to be true. It’s a pure political play.
Buying DJT is buying a slice of history and putting a thumb into Letitia James’ beady little eye.
There was even more good DJT news. Last week, Trump earned bonus shares in the new stock worth about an extra +$1.15 billion, triggered after the share price stayed (well) over a $17.50 minimum for 30 days.
CNBC sort of admitted that Trump haters have been trying to tank the stock. It reported how Trump Media officers fought back last week against short sellers who were manipulating the stock’s price down. Last Monday, the company issued a press release giving stock owners instructions about how to frustrate the short sellers. Trump Media officials also complained about the short sellers to Congressional Republicans and Nasdaq’s CEO.
They are fighting President Trump for every single inch, on every front. And still, somehow, they keep losing.
Trump stock ‘unexpectedly’ jumps; Trump trial miracle is deranged star witness; NYT admits trial is about nothing; shrinking Ukraine aid narrative; China pushing back on Biden; WHO treaty shrinkage.
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