Trump sues Truth Social co-founders over alleged mismanagement

OK, so now there's this company that reputedly has cost roughly 10x more money than it has made.

And Trump sells it, mostly back to himself, and then declares it to be worth billions.

But a week into trading, it isn't looking so good as an investment, and has devalued by (you guessed it) billions.

And now Trump is suing the inventors and principals behind this company (that Trump just said was such a success), because they mismanaged it.

So, was it a success, or not? I mean wut?

Or is Trump's money some sort of PR vapour that has only imaginary value?

Perhaps his entire portfolio is worth a whopping 100 Brazillion dollars?



LOL

Trump sues Truth Social co-founders over alleged mismanagement - BBC

a reply to: chr0naut

This is more or less a counter suit. The people Trump is suing are already in a lawsuit against him for attempting to depreciate their stake in the company in violation of the agreement they made.

There were also two men with ties to the Putin ally that kept the company afloat early on that pleaded guilty to insider trading yesterday.

originally posted by: Threadbarer
a reply to: chr0naut

This is more or less a counter suit. The people Trump is suing are already in a lawsuit against him for attempting to depreciate their stake in the company in violation of the agreement they made.

There were also two men with ties to the Putin ally that kept the company afloat early on that pleaded guilty to insider trading yesterday.

What?

Russia, Russia, Russia?

Say it isn't so...

a reply to: chr0naut

I don't think this thread should have been made.
I was really enjoying reading all the over the top dribble and the desperate threads coming out in order for the buyers to cope.
But here we are....again it seems. I mean they all did get warned so this is all on them. I don't wish financial loss on most but....I have been known to make exemptions for low IQ.

originally posted by: chr0naut
So, was it a success, or not? I mean wut?

Too early to tell.

He's the GREATEST BUSSINESSMAN EVER.

Like OF ALL TIME

(sarcasm off)

Just another Venture that had a spark of a Glory Day and lost it's shine.

The Emperors New Shoes.

a reply to: chr0naut

They are calling it a "Trump and Dump."

www.reuters.com...

Who would have guessed a massively overvalued Meme stock could fluctuate so wildly... oh yeah, EVERYONE.

But some of these news media outlets are vultures with this, even though they are mocking what was inevitable.

It's a Meme stock. And a company ridiculously overvalued with increasing losses. They lose/gain 50% valuation in a few days, moreso with news like that. Trump hasn't dumped. Others did, because that's how people trade meme. They pumped the Trump and then dumped the Trump. It's poetic.

Al Shalloudi said he bought at $37 per share and cashed out late last week at $65 per share, clinching a 76% return on his $4,000 investment in just a few days. TMTG's stock closed on Monday at $48.66 after listing on Nasdaq last week in a deal that valued it at just $10 per share.

“It was a no-brainer. You buy the stock, wait for Trump's fan base to hear about it, and enjoy your profit,” Al Shalloudi said.

That translates to his shares losing 1 billion since ATH valuation. A dead giveaway he owns in excess of 60% of the stocks still.

fortune.com...

Trump Media’s shares soared in their first couple days of trading — surpassing $79 at one point Tuesday — but have since fallen closer to their initial offering price of $49.95. As of midday Monday, Trump Media’s stock plunged more than 23% to below $48, meaning a lot of early investors are taking a hit.

Likewise, I can't see who he could sue for this. But not having anything real to sue hasn't stopped him in the past.

Final ETA:

The money's value is imaginary. A popular IPO is an assured of an upcoming event to make a lot of money as there is. Especially a meme stock IPO. (Like Gamestop) When those happen you gotta take advantage.

Oh brother, guess it’s time to add another to the hoax list 🙄

Russia Collusion Hoax

Steele Dossier hooker story

Russia paying bounties on US soldiers in Afghanistan

Trump called Neo-Nazis “Fine people.”

Trump suggested drinking/injecting bleach to fight COVID

Trump overfed koi fish in Japan

Trump cleared protestors with tear gas for a bible photo op

Hunter’s laptop was Russian disinformation.

Elections were fair because no court found major fraud.

January 6th was an “insurrection” to overthrow the government

Trump tried to grab the steering wheel of The Beast

Border Patrol Agents whipped illegal border crossers

Trump stored nuclear secrets at Mar-a-Lago

Governor Whitmer kidnapping plot

Trump mocked a reporter’s disability

Government spending to subsidize green products reduces “inflation.”

Trump invited Nick Fuentes to dinner at Mar-a-Lago

Twittergate was a dud. We learned nothing new or worrisome.

Twitter doesn’t shadow ban.

Twitter hate speech got worse under Musk

Derek Chauvin killed George Floyd

NATO Funding Hoax

Trump vowed there would be a “bloodbath” if he’s not re-elected.

Russia Hoaxes broken out

1. Russia collusion hoax (the original)

2. Russian bounties on American soldiers hoax

3. Hunter laptop was Russian disinfo hoax

4. Trump responsible for Navalny's death hoax

5. Trump invited Russia to attack a NATO country that doesn't pay its bills hoax

6. FBI informant for the Biden bribes is a Russian spy (probable hoax)

7. Putin blew up his own pipeline hoax.

8. NEW: Trump is romantically attracted to Putin.

9. Russia is behind the anti-vax movement (Peter Hotez)

10. Alfa Bank hoax

11. Hamilton 68 Hoax

12. Embassy sonic weapon hoax

13. Navalny died of a blood clot

14. Russia is losing in Ukraine

Haven’t you learned anything bending over and taking it time and time again?
I’m tired just watching some of you get brutalized.

a reply to: Vermilion

Haven’t you learned anything bending over and taking it time and time again?

Stupid is, as stupid does.

a reply to: Vermilion

Haven’t you learned anything bending over and taking it time and time again?

He might be into that?

a reply to: chr0naut

And just like clock work here comes the goon squad to not actually say anything besides the predetermined rebuttals.
Sad how easy they are to predict.

originally posted by: budzprime69
a reply to: chr0naut

And just like clock work here comes the goon squad to not actually say anything besides the predetermined rebuttals.
Sad how easy they are to predict.

🤣🤣

Trump is a billionaire that has lost some money, in other news…water is wet.
Maybe you are crying for him but I am not.

But he will still be your next president, so buckle up.

originally posted by: RazorV66

originally posted by: budzprime69
a reply to: chr0naut

And just like clock work here comes the goon squad to not actually say anything besides the predetermined rebuttals.
Sad how easy they are to predict.

🤣🤣

Trump is a billionaire that has lost some money, in other news…water is wet.
Maybe you are crying for him but I am not.

But he will still be your next president, so buckle up.

I’m curious to see what happens to this stock when he does become president. Might be kicking myself even though I don’t have any cash to stick in.

originally posted by: Kaiju666

originally posted by: RazorV66

originally posted by: budzprime69
a reply to: chr0naut

And just like clock work here comes the goon squad to not actually say anything besides the predetermined rebuttals.
Sad how easy they are to predict.

🤣🤣

Trump is a billionaire that has lost some money, in other news…water is wet.
Maybe you are crying for him but I am not.

But he will still be your next president, so buckle up.

I’m curious to see what happens to this stock when he does become president. Might be kicking myself even though I don’t have any cash to stick in.

*if

originally posted by: JadedGhost

originally posted by: Kaiju666

originally posted by: RazorV66

originally posted by: budzprime69
a reply to: chr0naut

And just like clock work here comes the goon squad to not actually say anything besides the predetermined rebuttals.
Sad how easy they are to predict.

🤣🤣

Trump is a billionaire that has lost some money, in other news…water is wet.
Maybe you are crying for him but I am not.

But he will still be your next president, so buckle up.

I’m curious to see what happens to this stock when he does become president. Might be kicking myself even though I don’t have any cash to stick in.

*if

I always try to send positive woo woo voodoo towards things.

a reply to: Vermilion

Good list Ver. Add to this is a quick rundown of former administration people that he chose to work with who have made it clear on how they view him as president, put together by Jimmy Kimmel.
which begins at the 2.00 mark in the video


As I see it, the real issue here is not Trump but rather the scope of people who support him. That list you offered, when taken one at a time are extremely easy to ignore, but the entire list? Same goes for this list of former choices he has made to work with him. Taken one at a time they are easily dismissed as frauds or sub par but when taken as a whole one would expect that the real picture it provides is that he is not as they wish him to be. He has hardly, if ever, demonstrated an ability to hire and promote ''the best people'' that he promised in his campaign, rather he has surrounded himself with family members.

It's understandable and easily agreed with that there are major problems with American culture and structure, I think we all see this. But it also seems to me that there is a desperation on the part of so many that they are willingly or not to place their hope for national redemption on a culprit of such magnitude. The fact that Trump is at best a salesman should be enough to turn us all against him. This tennis shoe deal is someone else's baby and he sells it for them. This bible grift, the same thing. Not his idea i think but rather someone elses and he is just the spokesman.

Just last week Trump supporters on this site were praising what a good deal Truth Social was for Trump.

His business ventures end in bankruptcies.

His former cabinet turned on him.

His lawyers got arrested.

He's suing his current business partners.

Everything this man gets involved in is cursed.

a reply to: Kaiju666

It would tank. Trump is the majority shareholder. If Trump becomes President, he would be required to divest himself of all his shares leading to a massive drop.

If Trump doesn't win and decides to cash out in six months, the stock tanks.

In both cases, if the stock tanks, Truth dies. In their SEC filing, Truth's accountants said the only way Truth was able to live was by going public.

So what is more important to Trump? His name being attached to a "successful" product or money? In this case, he can't have both.

originally posted by: RazorV66

originally posted by: budzprime69
a reply to: chr0naut

And just like clock work here comes the goon squad to not actually say anything besides the predetermined rebuttals.
Sad how easy they are to predict.

🤣🤣

Trump is a billionaire that has lost some money, in other news…water is wet.
Maybe you are crying for him but I am not.

But he will still be your next president, so buckle up.

Is he though....a billionaire?
Ummm I think not and even if he did sell all hist assets he may be one but that wouldn't last long.

originally posted by: budzprime69

originally posted by: RazorV66

originally posted by: budzprime69
a reply to: chr0naut

And just like clock work here comes the goon squad to not actually say anything besides the predetermined rebuttals.
Sad how easy they are to predict.

🤣🤣

Trump is a billionaire that has lost some money, in other news…water is wet.
Maybe you are crying for him but I am not.

But he will still be your next president, so buckle up.

Is he though....a billionaire?
Ummm I think not and even if he did sell all hist assets he may be one but that wouldn't last long.

There are probably very few people who have $1 Billion in cash they could withdraw, load into a semi and drive away. Maybe some drug Cartels have that much in the bank?