DJT stock hits turbulence: More volatility ahead for Trump's high-flying Truth Social

[Happy Hoosier]

12. It's a meme stock with no basis to its valuation....

People bought it hoping to ride the ride the opening surge to a high, then dump it and make a huge margin. I think lots of the meme stock traders are trying to find the top right now. The drop yesterday indciates a big chunk of them think it's there, they took their profit and left. The Johnny-come-latelys want more upside before selling.

I think one of two things will happen now.... either it will collapse... probably to below it's initial price, or it will fade slowly, as people realize it ain't going to have a huge up again. We might get some thrash of rallies and crashes as traders try to eek out a little more profit.

The stock is RIDICULOUSLY overvalued.... Truth socila ahas few users, and fewer advertisers. It loses money like Trump loses brain cells.