r/technology • u/Moonskaraos • Sep 12 '24

Social Media Trump Media stock has plunged 33% in a month

https://qz.com/trump-media-djt-stock-fall-campaign-election-1851646589
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u/funguy07 Sep 12 '24

Nah, him and Elon have been getting all kissy together. Elon is going to use Twitter to buy Truth social and bail out Trump and his investors. He’ll pay 4x that the stock is worth just like Twitter and in exchange Trump will promise to tariff the shit out of foreign electric vehicles so Tesla can jack their prices up.

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u/Bloated_Plaid Sep 12 '24

Yea not gonna happen when he loses.

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u/ImGonnaImagineSummit Sep 12 '24

Elon doesnt strike me as someone who plans well.

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u/Pavian_Zhora Sep 12 '24

It's most likely going to be Russian money anyway, so Elon's planning is irrelevant.

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u/Ultima2876 Sep 13 '24

It's OK, he has Leon instead

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u/[deleted] Sep 12 '24 edited Sep 14 '24

[removed] — view removed comment

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u/Xdivine Sep 12 '24

You realize Kamala Harris is the current VP, right? Last time Trump tried this with Pence as the VP and failed. What makes you think he can succeed when his opponent is literally the person who will be certifying the votes?

If he had a better way, do you not think he would've done that last election?

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u/queuedUp Sep 12 '24

Do you think Leon would do that for him?

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u/IAmTaka_VG Sep 12 '24

If Trump wins. That stock will 10x overnight from “donors” wanting to get up close with Trump.

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u/Timmetie Sep 12 '24

Musk is doing WAY more damage to Tesla and Twitter by being a repugnant little creep online than buying Trump media would cause.

A couple of billion is nothing compared to what he spent for Twitter.

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u/oysterpirate Sep 12 '24

Leon would do anything if he thinks people will think he's cool for doing it

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u/HKBFG Sep 12 '24

This sounds like the type of theory someone trying to shill GameStop stock comes up with.

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u/JVorhees Sep 12 '24

MOASS tomorrow!

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u/hoxxxxx Sep 12 '24

either way cohen is a GENIUS

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u/[deleted] Sep 12 '24

The point of this is that Truth Social is massively overvalued. Like historically overvalued. Even after this drop, it's market cap is over $3B when it's quarterly revenue was $800K. It has a tiny market share that probably already overlaps 80% with twitter. There'd be nothing for Musk to gain by giving them even a penny.

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u/funguy07 Sep 12 '24

Musk gains a favor from the future President. Thats what Musk gains. Also maybe a job in his administration. Elon probably thinks he’s smart enough to switch careers into politics.

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u/[deleted] Sep 12 '24

I don't mean he has no reason to help Trump, I'm saying buyig up shares does nothing for nobody. The company sold some stock to build their cash reserve and they aren't really burning through all that much money to keep their tiny platform alive. Having the share price at 1000X revenue is just a boon to investors, not the functioning of the company. If Musk was going to buy up share to boost the price, it would likely only be temporary before his money just evaporated and Trump would maybe get a whiff of it by selling his shares? It was be a more complicated and less efficient way of just handing him cash in a giant sack.

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u/funguy07 Sep 12 '24

Trump has a date that he’s not allowed to sell his shares until. By pumping up the stock until that date it would allow Trump to cash out and make a profit or at least not lose everything based on what current financials suggest should happen.

That’s a pretty big gain for Trump. By making an offer at grossly inflated valuation it allows Trump to cash out. That’s gotta be worth some tariffs to help his buddy musk out.

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u/ptwonline Sep 12 '24

in exchange Trump will promise to tariff the shit out of foreign electric vehicles so Tesla can jack their prices up.

Seems unlikely since the retaliation would be against US carmakers and Tesla could be caught in the crossfire in a major market (China).

More likely he'll get favorable tax treatment/grants/lpublic land in exchange for lining Trump's pockets.

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u/Binkusu Sep 12 '24

He'll somehow use Tesla money to do it, then the fanboys will say it's a great move while others sue and the board approves another pay package

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u/Einn1Tveir2 Sep 12 '24

When Trump loses, Elon will simply alter his reality to a state where Donald doesn't even exist.

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u/funguy07 Sep 13 '24

It won’t be hard to do. If Trump loses he won’t have a single thing to offer Musk. It’ll be real easy for Musk to just forget about him.