Kansas Crimson

Rubes gonna rube and rube and rube.

Truth Social users are feeling glum about Trump Media's stock crash.

Users on the social media platform — referred to on the site as "Truthsayers" — have been buzzing about the stock's steep decline since it went public at the end of March. Shares of Trump Media have tanked more than 50% since March 27, with the stock dropping another 18% this week after the company moved to allow insider shareholders to potentially sell stock before the six-month lockup period is up. Shares declined further on Tuesday after the company announced that it would launch a streaming platform.

Reactions to the plunge on the social media site ranged, with some users expressing shock and dismay, to acknowledgment that the shares might not regain lost value. A few said the sell-off was evidence of a conspiracy to discredit the former president and tank his net worth.

"What is happening to DJT stock," one user said in a reply to a post from Donald Trump's official account, claiming they had invested their life savings into the company. "Please do something about the crash."

More conspiratorial Truthsayers have accused short-sellers of foul play, claiming that the share price has been artificially lowered somehow.

"Remain Calm," one user wrote on April 15, the day Trump Media shares plummeted 18%. "This drop was literally just someone selling 140k shares in 10 minutes premarket. This is extreme manipulation at best. There isn't a massive sell-off. It's one or a handful of people trying to cause panic."

"They'll do anything to discredit President Trump," another user replied. "God has different plans and will save the nations in HIS Perfect timing."

Other users blamed the Securities and Exchange Commission, as regulators did not pause trading of the stock during its decline. The SEC may suspend trading for up to 10 days if it believes doing so would protect the public in the event a company is not meeting its duties to shareholders. This is different, however, from a trading halt, which is ordered by an exchange to protect investors from excessive volatility.

"DWAC has fallen over 30% over the last few trading days but they don't cease trading. They don't like President @realDonaldTrump and his policies, especially his creation, Truth Social, so they are trying to destroy his company, DJT," one user claimed.

A smaller number of users were still touting the stock amid the plunge. Buying the shares is an "excellent" way to support Trump's presidential campaign, and an investment in "uncensored free speech," some Truthsayers wrote.

Trump, who owns about 58% of Truth Social's parent company, has fiercely defended the site from its critics. In a recent post on the site, the former president called his social media platform "AMAZING," saying it had $200 million in cash on hand and no debt on its balance sheet.

Truth Social has also looked to pass blame for the recent damage to its business. Shortly after the stock's steep decline, Trump Media filed a suit against two of Truth Social's creators, claiming they had failed "spectacularly" at their jobs and done "significant damage" to the company ahead of its highly-anticipated public debut.

"I think daddy Trump has some surprises for us, we just have to be patient and wait for it," one Truthsayer recently wrote on Trump Media stock. "NFA but I'll buy more tomorrow. Gotta love the price."

The DJT stock bounced back! well sort of.

But the most goodest news is that trumpty plumpty is going to get an "earnout" bonus of 36 million shares due to stock performance. Yes you heard that right. The stock has lost 53% of it's "value" in its first 20 days of trading. It dropped from an opening price of $70.90 to $32.20/share.

But there is an earnout bonus if the stock doesn't drop below $17.50/share, because not losing 75% of the value in the first 20 days is some kinda great performance. So trumpty plumpty has now earned another 36M shares in DJT with a value about $1.16B. A good day in court for fatso.

Come on Rubes! Buy more! Show trumpty plumpty your love and devotion$. He needs you now more than ever. He has to sit quietly and listen to people say mean things about him without melting. Sure he can fall asleep and ignore the proceedings while dreaming about fucking his own daughter, but it would mean so much more if you would send him all of your money right now as well.

There’s going to be a not-insignificant number of people - thousands? tens of thousands? more? - who will go bankrupt (which means we all pay) over this devotion.

Things are not going well at Tesla right now. The stock is down more than $100 per share year-to-date, as many as 20,000 people are set to lose their jobs, the Cybertruck keeps breaking, operating profit is expected to be down 40 percent when it’s announced later today and the $25,000 electric vehicle that Tesla has reportedly been working on is apparently canceled. As the Wall Street Journal reports, some but not all of that stress can be attributed to Tesla alienating what was previously its most valuable demographic — Democrats.

Historically, Democrats have bought Teslas in significantly larger numbers than people with other political affiliations. As Elon Musk has moved to the right, interacting with far-right accounts, promoting race “science,” anti-Semitism, homophobia, transphobia and complaining about the “woke mind virus,” though, the number of Democrats interested in giving him their money has dropped significantly. Late last year, that figure reportedly dropped by more than 60 percent.

Unfortunately for Tesla, while Republicans have embraced Musk’s political heel-turn, they haven’t necessarily been buying his cars in large enough numbers to offset the sharp drop in interest from left-leaning people. That’s likely due in part to Republican politicians using EVs as an example of how Democrats want to destroy the auto industry, control your life and force you to own nothing and eat bugs.

https://jalopnik.com/tesla-learns-hard- ... 1851429030

(I dunno if Musk moved to the right, or his twitter purchase amplified the righty he was all along...)

This echoes Ous's post above. I guess stupid is as stupid does.

I have always been curious about Teslas, but since the car trips I take are regularly > 1,000, it never seemed practical. I'd love to have one to power my home after a loss of power due to a hurricane, but figure I'll look into a plug-in hybrid next time I buy a car. That, and with time, Teslas only seem to get uglier and uglier. When you add that to the antiSemitic Nazi sympathizing prick he's turned out to be, and Tesla is a hard NO.

That's despite generally admiring people who speak their mind, no matter how unpopular their opinion is. But he has a fiduciary duty to Tesla stock holders to increase, not decrease the value of their stock, and opening his mouth the way he has only makes him look ignorant. And speaking of "ignorant", overpaying for twitter, and then mishandling his ownership by forcing advertisers to make a choice about whether to stay or go, reveals an arrogance and cluelessness that's gobsmacking, for a guy who is undeniably brilliant. If I had to guess, I'd say he's on the spectrum, but that's only a guess.

Elon Musk Lost Democrats on Tesla When He Needed Them Most

For years, the biggest cohort of Tesla buyers, politically speaking, has been Democrats. But when Elon Musk took a hard turn last fall, they didn’t follow him.
 
The proportion of Democrats buying Tesla vehicles fell by more than 60%, according to car buyers surveyed in October and November by researcher Strategic Vision.
 
Tesla has since made up ground with blue buyers, the research shows. But the dramatic drop highlights the risk hanging over Tesla with an increasingly political chief executive, at a time when electric-car makers are already struggling to appeal to many Republican buyers.
 
The fall contraction coincided with Musk’s being increasingly vocal about illegal immigration, amplifying a tweet promoting antisemitic vitriol and publicly attacking Disney over his contention that the entertainment company had become too woke. (Musk has called the troublesome tweet foolish, and the Mouse House CEO has defended its positions while saying it needs to stay focused on entertainment.)

In many ways, Musk was sounding a lot like Donald Trump, embracing billionaire populism, and less like the green hero he was once celebrated as. 

Those controversies, it seems, have put the electric-vehicle maker in an even tougher position this year as the overall market for EVs has slowed. It doesn’t help EV makers that U.S. politics has polarized the technology, which some Republicans have denigrated in their campaigns.
 
Globally, Tesla sales fell in the first quarter, the first year-over-year drop since the troubled early days of the pandemic in 2020. Musk this past week rolled out widespread layoffs, and shares have fallen 41% this year through Friday as investors worry Tesla’s dramatic growth story is in trouble.
 
Some investors are pining for the old Tesla-obsessed Elon, worried he has been distracted with his political posturing and commitments at his other companies, including an artificial-intelligence startup called xAI and social-media platform X.

Other surveys have captured a pullback in consumers’ consideration of Tesla vehicles since Musk acquired the social-media platform in late 2022 and held court on contentious social issues.
 
But the mix of Democrats, who have been core constituents for the Tesla brand, had remained mostly steady—until last fall.
 
Among 2022 model-year buyers, Democrats made up 40% of Tesla customers and 39% in 2023, according to Strategic Vision’s surveys. Things began to change in the 2024 model year survey, which began in October. The makeup of Democrats fell to 15% while Republicans jumped to 32% and independents swelled to 44%. 

[...]

There is officially zero chance that I would ever give Tesla and Elon Mush one cent of my money. i will shop for a car that at least has some electric capability the next time I am in the market for a car but I will not even consider a Tesla any more. Fuck that guy.

^^^^^^

I reluctantly might have to go with starlink tho. my internet is absolute garbage. But I know people in the canyon thay are getting 120+ speeds woth starlink.

TDub wrote: ↑Fri Apr 26, 2024 2:03 pm I reluctantly might have to go with starlink tho. my internet is absolute garbage. But I know people in the canyon thay are getting 120+ speeds woth starlink.

we met an old woman up in the Uintas last year camping…a writer that literally works from anywhere because of the damn thing

TDub wrote: ↑Fri Apr 26, 2024 2:03 pm I reluctantly might have to go with starlink tho. my internet is absolute garbage. But I know people in the canyon thay are getting 120+ speeds woth starlink.

I wouldn't blame you.

the fastest I've ever seen woth my current provider is 17. We usually sre around 8-10. In the evenings lately we've been hovering around 3-5. Barely worth having at that point

TDub wrote: ↑Fri Apr 26, 2024 3:11 pm the fastest I've ever seen woth my current provider is 17. We usually sre around 8-10. In the evenings lately we've been hovering around 3-5. Barely worth having at that point

You've made me curious what it costs.

Shirley wrote: ↑Fri Apr 26, 2024 3:34 pm

TDub wrote: ↑Fri Apr 26, 2024 3:11 pm the fastest I've ever seen woth my current provider is 17. We usually sre around 8-10. In the evenings lately we've been hovering around 3-5. Barely worth having at that point

You've made me curious what it costs.

6-700 initial set up costs, $110 per month after that. I believe is what I remember.

but I currently pay $70/month for garbage service.

TDub wrote: ↑Fri Apr 26, 2024 4:10 pm

Shirley wrote: ↑Fri Apr 26, 2024 3:34 pm

TDub wrote: ↑Fri Apr 26, 2024 3:11 pm the fastest I've ever seen woth my current provider is 17. We usually sre around 8-10. In the evenings lately we've been hovering around 3-5. Barely worth having at that point

You've made me curious what it costs.

6-700 initial set up costs, $110 per month after that. I believe is what I remember.

but I currently pay $70/month for garbage service.

Not sure why, but I thought it was ~ half that much/month.

Do you get cell service, might check t mobile or Verizon

jhawks99 wrote: ↑Sat Apr 27, 2024 9:04 am Do you get cell service, might check t mobile or Verizon

I don't, my cellphone only works out here through my wifi