Tuesday, April 2, 2024

TWGB: A Volatile Day

 

The Truth Social stock continued to tumble after its 8-K was released (you can read it here, or a bunch of documents--I like to provide context). I've pointed out before that the business wasn't likely to appreciate in any sense from here--think about it? What is a cash infusion going to do? Build out memory for subscribers who won't exist? But $4 million revenue vs. $58 million losses does not net a $8 billion dollar valuation. But the docs are funny--they basically say we aren't tracking certain industry standard key performance indicators because that's not where our sense of value comes from, and also if we do have thoughts about that we're not telling. 

But maybe most of the value resides in the team! 

Guys, I don't know. If you said "8-K" to me a little while ago, I'd have said I never heard of one those races. But it seems to me if someone has deposited one's nest egg in that stock, one was...unwise. If one was a Trump fan who still owed like, $50K on a tricked-out long-cab short bed male insecurity-hauler 1500, I guess one could practice saying things like "The plan always was retirement at 80" or "Those kids never would have liked college anyway."

That's just capitalism. 


Anyhow, today Trump also got an extension on his gag order in the hush money/election interference case, which now includes family members of the judge and the DA, because, ENOUGH ALREADY! As I pointed out, previous attacks on family members of judges weren't even necessarily based on fact. The attacks on Judge Merchan's daughter are no different, but if, as Trump fans insist, her being a partisan is influential--they can explain why Justice Thomas should not recuse from anything to do with Trump based on his wife's activities, a more clear case of partisanship

In other news, Trump finally got his $175 million bond from Knight insurance--and yes, it is collateralized and sure, the CEO's done business with Trump before. 

So, it's been kind of a busy Trump day--but if you still need a little more, you can puzzle out whether small donors are tired of being used as a "rich man's" bank. Is it the hard sell techniques? Is it the recurring donations? Is it the knowledge that it's all going to legal fees? 

Are people supporting Trump more and enjoying him less? You be the judge!

3 comments:

Ali Redford said...

I guess mainly, I don't get why tfg's in "The Club" (the one most of us aren't in,) when he's just so awful. Seems like the club would let him hang out to dry to discourage other awful people from lying and conning their ways in. But what do I know-I'm not in the club.

I am a human, though, and I don't get why tfg hasn't been shunned long ago.

Chief Squirrel said...

Intelligence test: have you ever sent money to a billionaire?

Vixen Strangely said...

Ali, if I've come to any sensible conclusion about how people who support Trump feel about Trump, I think it's that they don't view him as a person. As a person, he is dreadful, undisciplined, weak, whining, wrathful, incapable of normal-person levels of self-control or emotional moderation. As an intellect, I wouldn't even say he was that sharpest tool in the shed. But people who like the idea of Trump appreciate he could be a tool. A blunt force object to swing at the institutions that do whatever it is they do in a way that offends your basic grievance laden Trumpist. To the extent our Constitution's "more-perfect nation" has aspirationally lead to the arc of history bending more towards justice, well, they can count on him to fuck that up, too.

Trump the man might not be a good businessman, a great father, a faithful husband, a pious Christian, a clean-handed law-abiding citizen: but his mythopoeia could be. The Trump they want exists as an avatar, an egrigore, around the man himself. They can ignore the words coming out of his mouth if they put enough power behind him and then wind him up to make him do what they want.

Hotels, escort services, money laundering. You don't see it at first--but he's a procurer. He accommodates. He accommodates the Religious Right, China, Putin, even North Korea's Lil Kim. And if he was asked to sell off America bit by bit, he simply doesn't know any better, and would. Something's in it for him, and off he goes.

No one who ever got behind him though, has properly thought about what a monkey's paw mistake dealing with him is. They are gamblers at the brokest table in the world. Just fools at the end of a cliff.

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