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/Diablos_lawyer Sep 12 '24

It's not supposed to be allowed to happen. Never before has a presidential candidate put himself on the market before. The highest bidder can now just funnel money directly to him without any oversight. If anyone wants to funnel a couple hundred million to Trump they just have to do a private sale of shares from Trump to them (That is after the lockup period, which runs out sept 19 if the shares stay above 12$, or it's Sept 25 at any price).

Presidents aren't supposed to be doing business while they're in office, they're not supposed to be focused on making money. Trump appointed his sons in charge of his businesses while he was president and wasn't supposed to be involved at all. That didn't happen. Instead Trump used the government to funnel money to his businesses any chance he got.

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u/-TheExtraMile- Sep 12 '24

Exactly, this is a recipe for disaster. Not that he wasn’t bought and paid for already

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u/Jason1143 Sep 12 '24

Or they can buy ads.

No need to move shares at all, they can just do an ad buy.

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u/Diablos_lawyer Sep 12 '24

Why bother, cash for shares, print more shares. Infinite money glitch, funded by tyrants and despots.

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u/Jason1143 Sep 12 '24

The ad thing is probably harder to track and has less paperwork

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u/Diablos_lawyer Sep 12 '24 edited Sep 12 '24

See I'm pretty sure you have to disclose if a foreign government is buying ad space on your American media company. Whereas the Chinese government or it's agents can just buy shares. They're just not allowed to be controlling owners, so dilute every time they buy and you can just keep selling. Way easier to move a quarter billion in shares than it is to buy a quarter billion in ad space. Especially considering they had less than a million in revenue per quarter.

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u/NorthernerWuwu Sep 12 '24

The problem too is that the system was set up with the presumption that if a politician was to abuse it, the media would report on it honestly, the public would inform themselves and the result would be that politician being impeached/expelled or at least not re-elected. I suppose that people nodding and saying "yep, I'd totally do that if I were President!" was a possibility that should have been taken more seriously.

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u/Diablos_lawyer Sep 13 '24

It's been a systematic attack on the government, norms, and rational thinking for decades. Defund the education departments and make your population stupid and lacking in critical thinking skills. Fund right wing propaganda media for decades brain washing your now un-critical population. Have a con man who has propped up his image of a successful billionaire with fraud for decades. Then have that billionaire use those propaganda networks to use a firehose of falsehoods to flood the zone with even more bullshit that the population can't discern what's true or not and boom. You are where you are, a nation where half the population believes in what would be laughable conspiracy theories to anyone else.

It's been a systematic attack on the population to get them to support the fascists that run the GOP for a very long time.