More on the Trump Dump

The turd that is DJT Stock continues on its inevitable slide into the abyss. It is clear that the insiders are unloading this pig in a poke, and the gullible true MAGA is going to hold the final bag

At least these piglets are cute, unlike Trump and his cronies

Last Friday I woke up extra early to pen this analysis and my thoughts on what ws going to happen when the Stock Market opened up at 6:30:

The day is here, does Trump dump?

At the end of the day, it was … inconclusive. Normal volume trading was roughly 3M shares changing hands each day, and at the buzzer on Friday, 22 million shares of DJT had been sold/bought.

That was a bit over 7x the average daily volume. But the price dropped just $1.15 a share. I expected to see more of a decline.

Clearly, the Mango Mussolini didn’t drop a 115M share order¹. Yet, I have to believe that a LOT of the sell side of the day’s orders was Trump selling all he could. And he found buyers.

Not market savvy investors, but instead this will largely be the true MAGA believers, and this is just line any of Trumpworld’s grifts, extracting money from the rubes, and the rubes still are waving their money at him.

Over the weekend I was wondering if the relative resilience in the price would hold. Could there be enough marks for Trump to separate from their money? I mean he just launched another NFT/Crypto scam last week selling Trump Stable Coins for $99, and people were totally jazzed by the opportunity.

I needn’t have worried. I checked the market at opening today, and it dropped 62 cents and a million shares traded in the first 90 seconds of the day. By the end of the first half hour, the drop was up to 73 cents on 4 million shares.

Yeah, Trump is definitely headed for the exits as fast as he can. How long will the rubes keep feeding their hard-earned cash into the incinerator?

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At the end of the day, the low of the stock touched $12.12 before recovering slightly to $12.15 in the closing price.

Considering that it started Monday at $13.65, that is a whopping 11.2% fall. Not great for the second trading day post lockup expirations.

Oops, that is going to leave a mark. Total volume was still high with 19.2M shares changing hands. What is interesting is the tracing of the volume vs. time:

Time across the top (in PDT time shifted) Look at that huge opening, and the big spikes in the last hour of trading

Examining the trends I map this to insiders² unloading their stock en masse. Alas, this is not uncommon, an internal whale will take the first whack, hit the price, then the smaller minnows will wait until late in trading praying hoping that the riffraff of the retail investors will go “bargain shopping” or “buying the dip” that will drive a recovery in the price.

That didn’t happen today.

The slide continued despite tiny “rallies”.

Back to the prior image, the minnows decided in the final hour that a recovery wasn’t coming, and began dumping their shares, continuing the slide.

And this is just the second day of unrestricted trading.

I will keep monitoring this and will post as this turd takes its inevitable slide to a penny stock, and delisting.

1. Technically, for such a large shareholder to liquidate a “material” fraction of their holdings, they need to submit forms to the SEC two days in advance. Alas we will not know if and/or when he filed until the posts become public. But they will be public, so we can do more forensics.

2. Note: it is not sure which insiders are unloading their blocks, it may or may not be Trump. We will have to wait for the SEC filings to see what happened

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