Trump Media stock drops more than 10% to open trading week

[Joe Cool]

https://www.cnbc.com/2024/04/08/trump-media-stock-drops-more-than-10percent-to-open-trading-week.html


Trump Media shares dropped more than 10% in early trading.
DJT’s plunge followed a 12% decline in its share price on Friday.
Trump Media, which owns the Truth Social app used by its biggest shareholder, former President Donald Trump, had a high price of nearly $80 two weeks ago after it began trading as a publicly held company.

[ProudMNDemocrat]

1. Keep on dropping.

It is all a scam anyway.

[C_U_L8R]

2. How many 10% drop days until delisting?

Seems like a SAT math question.

[unblock]

4. It's a long long way away from getting delisted

at least based on share price. I believe it would have to trade under $1 per share for 30 consecutive days. But I think even that can be avoided through a reverse split -- give shareholders 1 new share for every 10 old shares and suddenly it goes from say $0.90 a share to $9 a share, avoiding that delisting problem.

Otherwise, market cap would have to be under $1 million. Again, a long ways away.

If it gets delisted, it would more likely be from Donnie skirting the rules about proper corporate management, such as not having an independent audit committee. That's a pretty easy formality for most companies but Donnie is allergic to the idea of independent oversight.

Anyway, as a practical matter, there no way it's getting delisted any time soon.

[C_U_L8R]

5. yes, more fantasy and diminishing math problem than practical matter

I can dream, can't I : - )

[unblock]

7. as for the math, it's been ages, but

if the stock price is $36, then we want $36*(90%)^x = $1
or
(90%)^x = $1/36
or
x = log (base.9) of (1/36)
or
x = ~34.01

you have to round up to make sure it gets under $1, so technically it would have to go down by 90% a total of 35 times to get under $1.


i used to be pretty good at this kind of math but it's been nearly half a century since i've worked with log math aside from standard financial formulas, and even then i usually just rely on excel

[C_U_L8R]

9. Yup, good SAT question

[Kennah]

6. There's another one they use for crosschecking

Should you invest in DJT stock?

a) Yes
b) Fuck No
c) Hell No
d) No

[awesomerwb1]

3. Russian and Saudi money incoming!

And then they'll take it out laundromat style, rinse and repeat until a million MAGAts lose their investment money.

[LetMyPeopleVote]

8. This makes me smile