This is what happens when assholes like me pump and dump shit stocks. I owned that crap for less than 5 hours before I knew it was sell time last week. Now I have shorted it and I'm making more than when I bought that worthless dog shit. Thank you MAGA wise investors. Please bring that price up again so I can short the shit out of it some more. LOL
https://finance.yahoo.com/quote/DJT/history
Edit for below: I admit I have only half assed researched DJT, but by a quick glance of the numbers, I think that stock is actually worth less than $5/share before it becomes a borderline penny stock after November.
Originally Posted by Lucas McCain
Do you know how much you're paying to borrow the shares? My main broker's charging a borrow fee equivalent to a 797% annual interest rate. You could buy puts or sell calls instead, but based on past experience, if it costs a lot to borrow the shares, the options will cost a lot too.
I agree it's overvalued. I haven't looked at the financials but read cumulative revenues since inception are around $5 million. And the market cap is $6.5 billion. And given that Elon Musk, who's not politically correct, now controls Twitter, and Trump has multiples more followers there than Truth Social, I wonder if Truth Media is viable.
That said you could still lose a lot of money on a short. Just look at Gamestop. The YOLO crowd on Wall Street Bets drove up the market cap to $22 billion. And something similar may happen here, from Trump fans buying the shares. You can be right as to the long term outcome, but when faced with margin calls or forced liquidation because your broker can't borrow the shares any longer, you can lose money.