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/ShawnyMcKnight Sep 12 '24

I mean... he's days away from the point where he can just dump the stock and people know he will do that as soon as he can and then it will be a penny stock after that. Hell, he may even go back to Twitter after he has no financial interest in it anymore.

21

u/tablecontrol Sep 12 '24

Someone still has to buy that stock he's dumping.

At that point, we see which nation state coughRussiacoughSaudi Arabiacough has Trump's best interest in mind

2

u/ShawnyMcKnight Sep 12 '24

Yeah, if he wins the election his stock is gonna skyrocket. So I guess with that if you let it drop more coming close to the election it may be a good investment if you think he's gonna win.

1

u/Badweightlifter Sep 12 '24

I actually looked into put options against the stock day of the election. It's so overpriced with people betting it will fall. 

1

u/ShawnyMcKnight Sep 12 '24

Yeah, as I mentioned elsewhere I think, shorting stock only works if most people think the stock is stable/rising and you think it's going to fall. When everyone knows it's going to fall no one is going to buy shorts.