Trump Threatens the NASDAQ After Exchange Halts Trading on His Media Company: ‘What’s Going On?’
Trump Threatens the NASDAQ After Exchange Halts Trading on His Media Company: ‘What’s Going On?’
Former President Donald Trump threatened the NASDAQ on Friday after the stock exchange briefly halted trading on Trump Media & Technology Group, which owns Truth Social.
Yeah, the guy who has no idea what a trading curb is, is a very stable business genius. Of course there is a very high chance that he is just straight up lying to rile the ignorant.
Limit Up-Limit Down Circuit Breaker (Single Stock Circuit Breaker) – The Limit Up-Limit Down circuit breaker (“LULD”) is a market volatility moderator designed to prevent large, sudden price moves in a stock. In particular, it prevents trades in individual securities from occurring outside of a specified price band. This price band is set at a percentage level above and below the average price of the stock over the immediately preceding five-minute trading period. If the stock’s price moves to the price band and does not move back within the price bands within 15 seconds, trading in the stock will pause for five minutes. These price bands are 5%, 10%, 20%, or the lesser of $.15 or 75%, depending on the price of the stock and whether the stock is designated as a Tier 1 or Tier 2 NMS stock. Tier 1 NMS stocks include all securities in the S&P 500, the Russell 1000 and select Exchange Traded Products. Tier 2 NMS stocks include all other NMS securities, except for rights and warrants, which are specifically excluded from coverage. The LULD applies during regular trading hours from 9:30 am ET – 4:00 pm ET. The LULD’s price bands double during the last 25 minutes of the regular trading day for (i) all Tier 1 NMS stocks and (ii) Tier 2 NMS stocks at or below $3.00.
https://www.nasdaqtrader.com/Trader.aspx?id=TradingHaltSearch
https://www.nasdaqtrader.com/trader.aspx?id=tradehaltcodes
LUDP Volatility Trading Pause
https://www.nasdaqtrader.com/content/MarketRegulation/LULD_FAQ.pdf
93I'm going to take a wild guess at one reason why preventing large, sudden price moves in a stock is a good thing: it prevents pump and dumps.
You can't quickly pump a stock and then sell it off if there's a control that stops the stock price from going way up in a hurry. And if you dump a stock, the price isn't going to plummet instantly, offering some protection to your unwitting victims.
50It's hilarious. They were literally
propping up the value of his company by preventing a price implosion.It makes me wonder if his orders got cancelled.
Edit: my bad.
I failed to read the article. It was a price spike that got cut off. See below.
27Thanks for the background info!
Now we all know more than the stable genius. I know it's not very complicated to do that.
5There's too many facts here! Go away!
Heh heh.
3
It is my intention to own this stock for a long period of time.
That SCREAMS out that he's selling ASAP. Look closely at the wording, he's been coached, "Remember Mr. Trump, we want people to understand that you will be holding this stock." He reflexively thought about selling, this is what came out his mouth.
And while we're at it, when talking about their own company, who says this?! Can you imagine even Musk saying something this dumb?!
24Why is NASDAQ halting the sale of DJT? What right do they have to do this? They have done it twice today. What’s going on? Are they taking orders from the SEC, which, for political reasons, delayed us for an inordinate amount of time, therefore hurting the stock very badly? I am going to hold NASDAQ, and maybe the SEC, liable for doing what they are doing. If they do it again, we will move the stock to the New York Stock Exchange. It is my intention to own this stock for a long period of time. In my opinion, it is THE REAL VOICE OF AMERICA, but it is definitely MY VOICE, and it will be for a long time to come!
Everything is a conspiracy. Totally normal actions are a plot against him and the Right.
The company’s financials are in dire straits, as it lost $58.2 million last year while bringing in just $4.1 million in revenue. Despite the day’s jump, the share price, which closed at $17.97 on Friday, is a long way away from this year’s high near $80 a share.
He's selling this shit as soon as he thinks it's the right time. He has no intention of holding onto most of it.
45Yes, he's trying to misdirect so the share price will be higher when he sells. He's okay with screwing everyone else over. On the other hand, if you invest in this shitwaffle, you might deserve what you get. He has shown himself to self serving all his life.
5Bet they do a future stock buyback with some of the cash on hand to feign confidence, then they'll personally sell lots
2
At whatever point it becomes clear to him that he is going to lose the election he will almost certainly cash out. If the race is close then he may make a gamble. But he is going to need the cash if he loses.
41Why would he need the money?
It isn't like he pays his lawyers. And you don't need a great lawyer to appeal a sensitive case indefinitely.
And... it isn't like he paid his terrorists. He left them hanging out to dry after they failed to murder pence and the entirety of congress a couple years back.
Also, I have a strong suspicion that he'll end up pushing for some blatantly illegal "charity" where True Believers can donate to The Real President Of The United States.
And lastly: Money is not a cure for novichok.
32Oh, he pays his lawyers, the good ones anyway. He's represented in some of these cases by major firms doing a respectable job. They'll stop if they don't get paid.
And you can't really appeal indefinitely, he has a few appeals before a sentence goes into effect and that's it. Then he could still try different appeals, but he'd be doing it from prison or probation or whatever.
17
Pretty sure he already needs the cash. Didnt he have problems raising the 500 million earlier this year?
15He may realize that putin’s got him covered as long as he continues sucking his dick.
6Putin is having some money troubles of his own right now. Banks in China are refusing to complete bank transactions with russia.
6Putin will only cover him as long as he's useful.
2
He can't sell shit. Nobody wants the stock now. Even less when he loses. Once he pumps even a tiny fragment of his share into the market, the price will go to 0.
1
Lying liar lies about his stock liquidation plans.
Everyone that still holds stock after Trump is allowed to sell is a sucker. A sucker that absolutely will deserve those losses. It'd be like investing in Bernie Madoff at this point... After he's proven to the world that he's a fraud a thousand times over, people are still throwing money at Trump's bullshit.
Future news: "I invested almost all my savings into this!"
Who could've known he was lying about selling it all as fast as he could‽
Everyone with half a brain, that's who.
13So, uh, when is he allowed to sell? Do we know the date? I'd been thinking about buying puts
419th of September if it stays above US$12
There is another large shareholder who can sell soon as well
6
Liar liar stocks on fire
6He's the guy most undecided think is stronger about the economy. This guy.
12They also think "the economy" is "the stock market". They're not sending their best...
5Or just the price of gas, the only price posted on billboards, and groceries, which we all buy. They’re also, unfortunately, amongst the most volatile (for seasonal, geopolitical, or whatever reason). But it’s the prices the average person tracks and the news reports the 3 stock big stock market indices with a one-sentence summary as if every stock moved up or down for the same reason.
I’m not judging here. Like, food, power, and retirement account (if they have one) should be what the average voter notices. It’s just unfortunate that it’s also basically fool’s gold for long term national policy makers. The weather can change the price of your favorite food more than the president.
2
He's just a super saiyan toddler.
7I've heard of "resting bitch face" but is he trying to create a new standard? Resting pouting bitch face?
4That's his "thinking" face. He literally spent hours in front of the mirror to practice these faces.
The interview with his production assistant on The Apprentice was very interesting.
4
Ok bruh. I’m sure all those CEOs will fucking love this.
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