The real result of Musk's prostrating at Butler - DJT rises
What the AF is happening at Trump Media? Their stock is beginning to defy gravity akin to TSLA. Gonna need a LOT more popcorn!
Since Monday (October 7) was my first day back after a few brutal days fighting Covid, I ignored the stock market during the day, but as I was wrapping up my jam-packed day, I dipped into the Stocks app, and look what happened to DJT today?
What the hell happened? Why the fuck did the stock surge at the open? And look at that volume! almost 31M shares traded hands?
How many idjits are there out there to pile in to the stock?
No, it is clear that something is happening, and something happened over the weekend to spur this monstrous increase in activity.
Now what might that be…
Oh yeah, the Biggest Douche in the Universe was fellating the worst piece of human garbage at a rally on Saturday.
Whilst I am not on Twitter1, it wouldn’t surprise me if the Muskrats saw this as an opportunity to jump into Truth Social (DJT) for a little Meme-Stonking.
Thus, while the prior week we saw what was likely all the early institutional investors and the insiders all flee the stock to bank their “gains” this feels like the enthusiastic zeal that the TSLA investors pile in to make an increasingly boring low volume automaker far over valued, but migrated to DJT.
Either that or Musk is buying to prop up the price.
I am going with option A, the TSLA idiot investors piling in.
Tuesday
Then this happened on the 8th:
Another increase in the shares traded, from 31M to 46M, or 15M more shares.
That is a ginormous increase in volume. If this is just the Muskrats and TSLA-bro idiots, boy are they dumb. While I think that the TSLA stock is way over priced, at least Tesla MAKES and SELLS cars, and turns a meagre profit, Truth Social just loses buckets of money to make pennies of revenue.
Even I don’t think Musk is stupid enough to buy 25M shares (the additional volume to start this week) to put money into Trump’s greedy lil’ hands. That is about a half billion dollars out of pocket. Musk definitely isn’t that liquid, so this is his army of dunderheads piling in to please their icon.
Checking the SEC filings (the 8K’s are the interesting ones):
Hmm, last filing was October 3, and it was to document the lawsuit by the early investors. Nope, Trump hasn’t filed his intent to liquidate, so these shares aren’t the short fingered vulgarian’s grift.
That leaves just the Musk fanboys. Now, I am not on Twitter, so I don’t know if Musk touted the DJT stock (and if he did, he would likely be open to litigation for pump-and-dump), so this is likely just the Musk faithful doing their lemming best to make their god-king happy.
And they will all be bag holders.
Delish!
Fuck Elon Musk, I am deadnaming it Twitter until I die.
Hasn’t Elmo been punished before for pump and dump? If these are his loyal fandumbs they’ll get twice what they deserve: screwed by both Trump and Musk.
No! Call it “Xitter” pronounced “$h1tter”.