Trump Media auditor warns that losses 'raise substantial doubt' about company's ability to continue
Trump Media auditor warns that losses 'raise substantial doubt' about company's ability to continue
The Truth Social parent, which trades under the stock ticker DJT, said it lost more than $58 million last year.
It's the classic Trump recipe.
How do you make 4 million?
By starting with 58!44Why would the Democrats do this?
40It must be those meddling radical left... Wall st brokers? Who even knows what the jackhole will cry next
13
lol I got banned from /r/wallstreetbets today for pointing out this grift\meme stock and a mod got angry about it, temp banned, I appealed after he accused me of being political, which I wasn't, I just mentioned that Trump is a grifter and this is just another example. He then muted me from appealing again, then banned me permanently.
I imagine he was a Trump supporter. :D Fuck Reddit.
37Reddit mods are such immature people who shouldn't have any power.
16There are dickweed mods on here too.
2That's they type of personality it takes to mod for free. Good job u/spez! Great idea!
2
'If' Trump plans to sell the stock, of course be plans to, he doesn't care about it long term for potential real money. Also it's the only reason it's going public so he can cash out. He can buy more ways to whine his festivus grievances if he has real cash when it goes under.
Is there any way to know if Trump has actually sold his stock? Unsure how that stuff is reported but I sort of assume there're records of who (or what shell companies) own them.
33I believe he is locked in on something along the lines of a 6 month cliff. This doesn't mean he can't use those rights/ options as leverage however. There might be some extremely questionable state actors for whom a couple billion in leverage against a US president is considered buying at a discount.
37
Got to be honest; I figured that various unnamed billionaires would gobble the stock up in order to keep Donnie afloat.
Apparently, those "masked evildoers" are feeling the pinch.
16
13This is the best summary I could come up with:
An auditor has raised doubts about the ability of Donald Trump's publicly traded company to stay in business, according to a new regulatory filing.
The filing includes a note from an independent accounting firm, Colorado-based BF Borgers CPA PC, warning that Trump Media's "operating losses raise substantial doubt about its ability to continue as a going concern."
In the filing, the company acknowledged that it expects to operate at a loss for the "foreseeable future" as it works to expand Truth Social's user base and attract more advertisers.
“If he goes ahead [with selling], it could sink DJT by at least 15% to 40% based on option pricing,” said Ben Emons, senior portfolio manager and head of fixed income at NewEdge Wealth, in a research note.
Analysts also expect trading in the stock to be volatile while the legal and political fortunes of the former president shift as he seeks a new term in the White House.
"As with bitcoin, people buy Trump Media not for future cash flows but because: 1) they expect its price to rise, and 2) they feel an affiliation for the asset," Rekenthaler wrote.
The original article contains 484 words, the summary contains 189 words. Saved 61%. I'm a bot and I'm open source!
7It doesn't really matter. It's served its purpose.
5In accounting speak, they fucked. Source: I used to do that for a living.
3another Trump bankruptcy in 3... 2...
1C H I N A ! ! ! 🇨🇳
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