Truth Social has very little revenue, very few advertisers, no profits to speak of, there are outages, and there are lawsuits. In order for it to trade publicly, it's merging with a SPAC - many SPACs are scams; the merged entity will have few prospects for profitability as the majority of people in the world will eschew it like the plague, and very few influencers are on it now. As soon as it's publicly listed, short sellers will descend upon it like locusts and depress the price. The offering valuation at the opening is pure puffery, not tied to any fundamentals, and as such, it wouldn't last, even without the shorts. If that's not enough, it's primary shareholder is 77, might face incarceration, and definitely has advancing cognitive decline. I predict that IF it turns out that Truth Social somehow plays a role in Trump securing a bond, the mechanism underlying that, and what happens afterward or as a consequence, will be the subject of a future indictment and/or civil suit.
@OurShallowState Summary: Truth Social faces chaIIenges with little revenue, few advertisers, outages, and lawsuits. Merging with a SPAC, it Iacks profitability prospects, potential for short seIIing, and a 77-year-old primary shareholder's legal issues add uncertainty.
@OurShallowState QOD: “PA's richest person Jeff Yass is buying Truth Social for $3 Billion so Trump can pay off the $450 Million judgment in return for Trump doing a 180 on his Tiktok and China stance to preserve Yass's $30 Billion stake in Tiktok. We call this "oligarchy" when it's elsewhere”
@OurShallowState The "investors" in the shell company SPAC are mostly Trump fanboys trading in a meme stock. No serious professional or institutional investors would touch this.
@OurShallowState Donnie is probably funneling money he stole through PPE times and stored in offshore accounts. He didn't want to have it documented in order to give it away to family donors and other insurrectionists. They think they are the only people who can make up stories. It's too easy.
@OurShallowState @LauraWalkerKC It is a glorified “Pump and Dump”. That’s all.
@OurShallowState Proof is in the returns. Move along child.
@OurShallowState Just gonna go ahead n bookmark this right now...
@OurShallowState Yup, at last look it had $5M in ad revenue (but probably operating at a loss), so the valuation is orders of magnitude beyond its worth. As Admirial Ackbar famously warned: “IT’S A SCAM!”