Social Trumps Truth Social made 4 million and lost 58 million in 2023.

[Unknown Pleasures]

Truth Social didnt make much money in 2023. Made 4 million and lost 58 million dollars. That sounds bad?? Trump owns 78 million shares. How much will they worth by the time he can sell? Will it be saved by trumpers propping up truth social to own the libs?

Any idea what that huge gain in 2022 is? Change in Fair Value of Liabilities I would think would be some sort of financial or accounting "hedge" for numbers that big, but since nothing on any other part of the balance sheet moved of near any magnitude like that it seems weird.

 

[BROWNPRIDE]

Trump is just a loser!

 

[Helden]

Everything Trump touches turns to shit, and these low IQ chudlefucks want to install him as supreme leader of the world

 

[curryjunkie]

The board can vote so he can cash out sooner than 6 months I heard, and guess who makes up the board...he will suck it dry as soon as possible and leave everyone poor.

 

[44nutman]

Board of directors:

Devin G. Nunes Chief Executive Officer and Director
Eric Swider Director
Donald J. Trump Jr. Director
Kashyap “Kash” Patel Director
W. Kyle Green Independent Director
Robert Lighthizer Independent Director
Linda McMahon Independent Director

They have more directors than employees.
They have 3 employees but Derp just like Amazon, Spotify and Facebook.

 

[AWilder]

 

[toasty]

it appears to be down in the pre-market again today with the overall futures looking bleak as well, so today is not a likely day for a reversal of fortune.

It looks like their earnings were actually down to 750K from over a million before and there are reports, accuracy unknown, that say the user base is actually shrinking....

so no this is not facebook or amazon or even a dollar store in the making.

If you go back to the launch they were promising to replace twitter, facebook, youtube, and all the streaming platforms. It reminded me of the Monorail episode of the Simpsons.

Now the questions are things like-

Will he use his handpicked board to allow him to cash out early and really screw everyone?

Will he get rich friends and potentially foreign interests to prop up the stock so he gets his extra 36 million shares if it stays above something like $17.20 for some amount of days I can't recall.

if they do, will he pay them back with favors even if they are not in the best interest of US national security?

But all of those fears have been put to rest by one of my favorite Trumpet Players-

"“When President Trump returns to the White House, he will continue to follow ethics guidelines,” Steven Cheung, Trump’s spokesperson, said in an email."

Yup the guy indicted on fraud, who we know for a fact sleeps with hooker while married, steals from charities, stiffs contractors, games the justice system, may have tried to get his friend and VP killed, etc and so forth "Will continue to follow ethics guidelines"

and the pressure mounts with each % point it drops

 

[pinger]

Just looks like a balls out pyramid scheme

 

[AWilder]

Just looks like a balls out pyramid scheme

 

[JadeOwl]

Spotify has been going at it for almost 20 yeras and is still not profitable unless something has changed

Spotify has over 600 million users.

 

[toasty]

if the price continues to fall the question becomes what would stop the free fall?

I assume many people jumped in trying to catch a meme, and for the first 2 trading days it looked like they might be right, then yesterday hit and I assume the ones paying attention bailed.

They said in their own filing they have a lack of internal controls, expect losses to continue for the foreseeable future, and are even starting to admit it might not be sustainable with a going concern warning............

the if's you need to go your way right now are-

If he doesn't seek board approval to dump flooding the market with shares

If he doesn't get convicted on any of the pending trials.

If he wins the election

if user growth reverses from a small loss of users to massive new users joining

if it reverses its' burn rate and starts to show less losses let alone a profit

if major advertisers change their minds and start spending on Truth Social

If another scandal doesn't erupt

If the market doesn't have a severe downturn

If he doesn't abandon it and go back to the megaphone that is x vs the tin cups and strings that is truth social

If he doesn't have any major medical problems that limit his involvement.

If his flock doesn't get sick of him flogging bogus products and flat out scams and him constantly begging them for money only to be the only one that profits

etc.

That many If's in an investment usually means it is F'ed.

 

[Paynebringer]

Everything Trump touches turns to shit, and these low IQ chudlefucks want to install him as supreme leader of the world

He's the opposite of having the Midas touch, but the diarrhea touch...

 

[MicroBrew]

It's nothing but a meme stock. A pump and dump scheme. Thought not illegal, it is not unlike a pyramid scheme, because people are buying it just so they can offload it quickly before the bottom falls out.

Analysis-Trump-and-dump: Speculators bet on Truth Social 'meme' stock​

Analysis-Trump-and-dump: Speculators bet on Truth Social 'meme' stock

Mohammed Al Shalloudi, a 21-year-old graduate data analyst in the United Arab Emirates who invested in Donald Trump's social media company, has little in common with the former U.S. president's political supporters. Al Shalloudi bought shares in Trump Media and Technology Group (TMTG), but not...

finance.yahoo.com

Trump Media stock falls more than 21% after company discloses $58 million loss for 2023​

Trump Media stock falls more than 21% after company discloses $58 million loss for 2023

Less than a week after a flashy stock market debut, Donald Trump’s social media company has disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%.

apnews.com

 

[nixkid]

Everything Trump touches turns to shit, and these low IQ chudlefucks want to install him as supreme leader of the world

Convince some chuds that it's like Facebook just long enough for Trump to cash out.

And if its any consolation for the chuds, Trump's record in bankruptcy court is a lot better than his court record in defamation and fraud civil trials. So there is still hope that the bag of shit you're holding at the end will turn into gold.

 

[curryjunkie]

He's the opposite of having the Midas touch, but the diarrhea touch...

 

[KaNesDeath]

Any idea what that huge gain in 2022 is?

Ad sales. 2023 loss was interest on loan payments being paid.

Still, the initial valuation of 11 billion and current valuation makes zero sense. Trump did do a NFT scam. Makes me wonder if this is him just continuing that on the stock market.

 

[Unknown Pleasures]

Ad sales. 2023 loss was interest on loan payments being paid.

Still, the initial valuation of 11 billion and current valuation makes zero sense. Trump did do a NFT scam. Makes me wonder if this is him just continuing that on the stock market.

I may not be much of an accountant but ad sales would be in the revenue line wouldn't it? Not on fair value liabilities. Or is this some complex ads sold but not yet delivered/used on the medium?

 

[KaNesDeath]

I may not be much of an accountant but ad sales would be in the revenue line wouldn't it?

Financials released were for 2023 since its now publicly traded. 2022 financials would only be provided to investors and loan agents?

 

[hitcher]

They might be, actually! They actually disclosed to regulators:

TMTG also disclosed to regulators that the company had identified “material weaknesses in its internal control over financial reporting” when it prepared a previous financial statement for the first three quarters of 2023. As of Monday, Trump Media said these “identified material weaknesses continue to exist."

Translation: Our accountants probably fucked up/lied so if these numbers are wrong please don't get too mad because we already warned you!

JFC you don’t see that often. How do you get material misstatements for a company this small??

 

[CantCucktheTuck]

Ono of my companies showed a loss of about $10,000 for 2023. I call that good accounting.