Don the Con's stock market debut with Truth Social is a blast from the past. Gullible people buying into another Trump scheme to fleece the masses. Remember Trump University? Not only did it fail but Trump was forced to pay $25 million to the victims.
At first the initial offering price of Truth Social (DJT) was about $50 dollars to a peak of $80 in late March. Since then, the share price has plummeted a staggering 68% to Tuesday's price at $25.
Stock experts have warned people all along that DJT stock is nothing more than an illusion. A fairy tale story that isn't going to happen in the real world.
Trump's latest con is meeting financial reality according to Tyler Richey, an analyst at Sevens Report Research, during an interview with ABC.
The only hope Trump has is if enough of his cult followers buy into his scam and the very real possibility their doing it to support him financially and don't care if they end up losing their investments.
However, "Truth Social is not attracting and holding users and it's not attracting significant advertising revenue," Jay Ritter, a professor of finance at the University of Florida told ABC news recently.
"Its current business model is a colossal failure," he concluded.
Investors just have to look at Trump's past business ventures where he ended up filing bankruptcy seven times.
Canny investors don't bet on ideology because it's too risky. But these are crazy times where a former president and insurrectionist indicted in four jurisdictions is the GOP nominee for president.
Anything could happen.
As it Stands, it remains to be seen if Trump supporters have any more money left to invest/donate in Trump's latest rip-off after being constantly dunned for over a year to pay his legal bills.
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