Trump’s Ridiculous Media Gambit Roasted as it Crashes and Burns
Donald Trump’s stock is surging, but don’t be fooled: It’s still absolutely worthless. Trump Media & Technology Group’s stock value surged Monday following his rally in New York City. After increasing by 32 percent over the last week, Trump’s stock bumped up 16 percent on Monday morning, according to CNN. But according to one financial expert, that isn’t enough to save Trump’s terrible stock.David Bahnsen, the managing partner of the Bahnsen Group, told Fox Business Monday that he struggled to speak about Trump’s DJT stock without laughing.“There’s not even a fundamental connection to Trump winning the election with it. It’s just a company that sets hundreds of millions of dollars on fire, and there’s no path to changing that,” said Bahnsen.There was no real product behind the DJT stock, Bahnsen explained. “If Trump wins, Twitter is still the big social media app for this.” Fox Business on $DJT: "It's just a company that sets hundreds of millions of dollars on fire. And there is no path to changing that." pic.twitter.com/oc7Wwadw6L— Aaron Rupar (@atrupar) October 28, 2024In reality, Trump’s Truth Social has very little market value. George Kailas, CEO of Prospero.ai, told CNN that the latest surge has left Trump Media trading at more than 1,600 times its enterprise value, which is a measure of a company’s market capitalization and any debts.Kailas called DJT’s valuation “crazy.” Still, following Trump’s racist rally at Madison Square Garden, there appears to be a surge in support for the stock, as people may feel more confident about his chances of winning. However, Trump’s odds in betting markets should be taken with a grain of salt. Trump’s stock has fluctuated wildly in the past three months. Its value operates like a meme stock and appears to be based on social sentiment for the Republican presidential nominee. It fell significantly after he was found guilty of 34 felony charges and continued to plummet after Kamala Harris joined the presidential race. It briefly peaked after his failed assassination attempt in July before cratering. The stock hit an all-time low in late September when it was valued at nearly $12 per share. As of Monday, the stock has been valued at just over $46 per share, its highest value since May, rising nearly 200 percent. It seems that Trump’s Sunday rally at Madison Square Garden, which has been compared to a full-on Nazi rally, has sparked enthusiasm among investors. The people on Wall Street must have been really impressed by the racist jokes and overt threats to democracy. However, there is reason to believe that there could be some influencing behind pro-Trump surges in the election market. The boost could also be the product of shifting favor on other betting sites, such as Polymarket, which revealed last week that what appeared to be four large bets placed on Trump’s victory, totaling $45 million, were actually all placed by the same person.
Donald Trump’s stock is surging, but don’t be fooled: It’s still absolutely worthless.
Trump Media & Technology Group’s stock value surged Monday following his rally in New York City. After increasing by 32 percent over the last week, Trump’s stock bumped up 16 percent on Monday morning, according to CNN.
But according to one financial expert, that isn’t enough to save Trump’s terrible stock.
David Bahnsen, the managing partner of the Bahnsen Group, told Fox Business Monday that he struggled to speak about Trump’s DJT stock without laughing.
“There’s not even a fundamental connection to Trump winning the election with it. It’s just a company that sets hundreds of millions of dollars on fire, and there’s no path to changing that,” said Bahnsen.
There was no real product behind the DJT stock, Bahnsen explained. “If Trump wins, Twitter is still the big social media app for this.”
Fox Business on $DJT: "It's just a company that sets hundreds of millions of dollars on fire. And there is no path to changing that." pic.twitter.com/oc7Wwadw6L— Aaron Rupar (@atrupar) October 28, 2024
In reality, Trump’s Truth Social has very little market value. George Kailas, CEO of Prospero.ai, told CNN that the latest surge has left Trump Media trading at more than 1,600 times its enterprise value, which is a measure of a company’s market capitalization and any debts.
Kailas called DJT’s valuation “crazy.”
Still, following Trump’s racist rally at Madison Square Garden, there appears to be a surge in support for the stock, as people may feel more confident about his chances of winning. However, Trump’s odds in betting markets should be taken with a grain of salt.
Trump’s stock has fluctuated wildly in the past three months. Its value operates like a meme stock and appears to be based on social sentiment for the Republican presidential nominee. It fell significantly after he was found guilty of 34 felony charges and continued to plummet after Kamala Harris joined the presidential race. It briefly peaked after his failed assassination attempt in July before cratering.
The stock hit an all-time low in late September when it was valued at nearly $12 per share. As of Monday, the stock has been valued at just over $46 per share, its highest value since May, rising nearly 200 percent.
It seems that Trump’s Sunday rally at Madison Square Garden, which has been compared to a full-on Nazi rally, has sparked enthusiasm among investors. The people on Wall Street must have been really impressed by the racist jokes and overt threats to democracy.
However, there is reason to believe that there could be some influencing behind pro-Trump surges in the election market. The boost could also be the product of shifting favor on other betting sites, such as Polymarket, which revealed last week that what appeared to be four large bets placed on Trump’s victory, totaling $45 million, were actually all placed by the same person.
