Who's in on DJT?

[myrdale]

To me it seems like a meme stock. From my point of view, buying single stocks doesn't seem appealing, regardless of my support of the person behind it. Looking at it from his point of view, it is a brilliant way to get people to literally buy into you.

[ua_guy]

To me it seems like a meme stock. From my point of view, buying single stocks doesn't seem appealing, regardless of my support of the person behind it. Looking at it from his point of view, it is a brilliant way to get people to literally buy into you.

Ponzi schemes aren't a brilliant or new idea, but they can be lucrative.

[myrdale]

Ponzi schemes aren't a brilliant or new idea, but they can be lucrative.

Are you suggesting Trump Media and Technology Group is a Ponzi scheme?

The last time I checked a Ponzi scheme used money from new investors to pay off old investors. People buying and selling sock in Trump Media is no different that selling stock in X, Facebook, Tesla, Google, or Microsoft.

Either the company makes profits and the people who invested in the stocks are rewarded or the company goes under and people lose their investment.

[QuarterMillionMan]

Today I bought 200 shares of ABTC at $1.54 a share. When their IPO opened last year it was valued at $7 or $8 a share. It's a Trump stock so it's sort of related to this thread, calm down if someone's hair is on fire thinking why am I posting about ABTC in a DWAC/DJT thread.

[ua_guy]

This was a good reminder to check in on poop coin. Still down.

[ua_guy]

ABTC... looks to also follow hype and bust.

[QuarterMillionMan]

I just bought another 100 shares of ABTC at $1.17 a share. Last week I bought 200 shares at $1.56. I hope that I'm not trying to catch a falling knife but I'm committed and will get more if it drops more.

[ua_guy]

Def a falling knife. Which one of DJTs companies hasn't ended in fraud or BK and the outcome has been good for shareholders? This one is different, how?

[myrdale]

Which one of DJTs companies hasn't ended in fraud or BK and the outcome has been good for shareholders?

According to Google, DJT holdes interest in some 400-500 separate companies.

Since 1991 DJT has applied for bankruptcy six times:

1991 Trump Taj Mahal
1992 Trump Castle Hotel & Casino
1992 Trump Plaza Casino
1992 Plaza Hotel
2004 Trump Hotels & Casino Resorts
2009 Trump Entertainment Resorts

The only references I can find relating to fraud were the charges that he over estimated the value of his property as collateral for a loan which he paid in full to a bank which processed and accepted his loan.

It seems like you believe that applying for bankruptcy is some type of moral flaw or a bad thing. No one wants to apply for bankruptcy, but those laws are in place to protect people.

What happens if you have some medical emergency and rack up hundreds of thousands of dollars in debt, or you cause a car accident, or any number of other circumstances where people are coming for everything you own? If you have to apply for bankruptcy, are you now as bad as you claim DJT is?

All in all, the outcome must have been pretty good for his shareholders, else they wouldn't still be around.

[ua_guy]

According to Google, DJT holdes interest in some 400-500 separate companies.

Since 1991 DJT has applied for bankruptcy six times:

1991 Trump Taj Mahal
1992 Trump Castle Hotel & Casino
1992 Trump Plaza Casino
1992 Plaza Hotel
2004 Trump Hotels & Casino Resorts
2009 Trump Entertainment Resorts

The only references I can find relating to fraud were the charges that he over estimated the value of his property as collateral for a loan which he paid in full to a bank which processed and accepted his loan.

It seems like you believe that applying for bankruptcy is some type of moral flaw or a bad thing. No one wants to apply for bankruptcy, but those laws are in place to protect people.

What happens if you have some medical emergency and rack up hundreds of thousands of dollars in debt, or you cause a car accident, or any number of other circumstances where people are coming for everything you own? If you have to apply for bankruptcy, are you now as bad as you claim DJT is?

All in all, the outcome must have been pretty good for his shareholders, else they wouldn't still be around.

I hold interest in probably 400 companies too. I'd need to check all my holdings to list them all.

I made no mention of morality, you did. Bankruptcy is a legal tool and we see corporations use it strategically after bleeding assets of a company dry and then leave their creditors and customers high and dry. Individual shareholders are typically the last to be paid in BK and in many cases get next to nothing when a company goes bankrupt. I'm saying there's potentially a pattern for individual shareholders when investing in his ventures; it's something I'd personally consider to be high risk / junk investment.