Social Media

The Grifter-In-Chief: Will Donald Trump Divest From His Bribery Platform, Truth Social?

Posted by on November 20, 2024 at 2:01 pm. 0 Comments :

After Donald Trump was elected in 2016, there was a fierce debate over whether he would divest from his many business interests. The potential for unscrupulous persons and/or foreign agents to seek favor from Trump by exploiting those interests was undeniable, and many took advantage of the opportunity.

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Trump Baby on Cash Pile

Trump never did divest himself in his first term in office. Subsequently, it has been estimated that he made millions off of such nefarious dealings. He took in funds from hostile foreign governments with business pending before U.S. government agencies over which he had jurisdiction. Then he lied about doing so.

SEE THIS: Eric Trump Lies that Daddy Gave All Foreign Money Made at His Hotels to the Treasury

An investigation by Citizens for Responsibility and Ethics in Washington (CREW) found that Trump earned as much as $160 million dollars from foreign sources – predominantly the Middle East and China – during is first occupation of the White House…

“Throughout his time in office, President Trump, his family and his Republican allies repeatedly assured the public that his refusal to divest from his businesses wouldn’t lead to any conflicts of interest. Americans were promised that Trump would donate his salary, which he did, until maybe he didn’t — all while siphoning millions from taxpayers that more than offset his presidential pay. When it came to foreign conflicts of interest, Trump and his company pledged to pause foreign business. They did not.”

So what can we expect from Trump as he prepares to reoccupy the White House? Oddly, no one seems to be asking that question. Surely he is not planning to divest from any of the businesses that he didn’t divest from last time. But there is now a new entity that Trump didn’t have before, and that presents an even more troubling prospect for shady dealing.

Trump’s Truth Social, via its parent corporation, Trump Media and Technology Group (TMTG), is listed on the NASDAQ stock exchange. It is therefore available for any crooked scheme-ster to shovel shiploads of cash into, enriching the other shareholders, of which Trump is the biggest. And the funds can go directly into Trump’s bank account when he sells shares. Is this legal? Or ethical? Does he care?

SEE ALSO: Trump’s Refusal to Sign the Required Ethics Agreement is His Virtual Promise to Violate It

The potential for bribery is not the only value that Truth Social has for Trump. It also serves as his public relations platform where he announces everything from his Cabinet nominees to his hatred for Taylor Swift. There is no precedent for a sitting president to own a media company that is his primary source of communicating with the public. And he already has Fox News, which he doesn’t own financially, but does own ideologically.

What’s more, Truth Social serves as a flea market for Trump’s various merchandise sales. He has hawked all sorts of trashy products, including sneakers, books, gold coins, and NFT collectible cards. And he is still pitching his merch, even after the election. The latest item that he’s peddling is a personalized guitar…

Trump’s scammy social media website is proving to be a valuable PR and marketing venue, even though it’s an epic disaster financially. It can’t attract or retain users or advertisers. It reports losing millions of dollars in every quarterly report. It’s principle executives are embroiled in financial and legal scandals. And it is unable to compete with the other social media platforms that are far bigger.

Nevertheless, Truth Social still has some significant value for Trump. Because it is able to serve as a depository for bribes from nefarious entities. And nobody in the regulatory, legal, or even political fields seem to care. See the following for more…

LOSER Trump’s Truth Social is Well on its Way to Becoming His Next Bankruptcy
TMTG reported its earning for the second quarter of 2024. And it was not a pretty sight. As reported by Investor’s Business Daily, “Trump Media reported net sales of $836,000, down 30% vs. a year earlier. Operating costs soared to $19.5 million vs. $4.9 million a year earlier.”

Trump’s Truth Social is Shedding Users Like a Miserable Childless Woman’s Mangy Cat
The Donald Trump-controlled Truth Social platform recorded its third straight month of declining traffic. Truth Social attracted 2,112,000 unique visitors, down 38% compared to June 2023 when the site generated 3,407,000 unique visitors. It was the platform’s second worst traffic performance since June 2022 when Truth Social had only 1,891,000 unique visitors.

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

Trump’s Election Triggers Big Selloff of His Truth Social Stock – By Company Executives

Posted by on November 14, 2024 at 11:10 am. 0 Comments :

Among the egomaniacal delusions of Donald Trump is his insistence that whatever he touches turns to gold, and that positive news about anything is only due to his divine intervention. Conversely, he wants people to believe that any catastrophe (Ukraine, Gaza, Hurricanes) would never have happened if he were in charge. It’s a symptom of the malignant narcissism that he has been suffering from for decades.

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Donald Trump Pacifier Fox

During the 2024 presidential campaign, Trump countered the fact that the stock market was booming by claiming that it was only because investors were anticipating his return to the White House. Never mind that the market hit record highs throughout the four years of President Biden’s administration. Also, unemployment hit record lows, the GDP soared, inflation was cut in half, and numerous other indicators showed gains that Trump could not have had any effect on. He was even called out about this by his Ministry of Propaganda, Fox News…

SEE THIS: Fox News Host Neil Cavuto Interrupts Trump’s Lying to Note ‘He’s Not Entitled to His Own Facts’

However, it would be difficult now for Trump to explain how the perception of his magnificence is turning the putrid pile of manure known as Truth Social into a bouquet of fragrant roses. Since election day on November 5, the stock of Trump Media and Technology Group (TMTG), the corporate parent of Truth Social, has declined about 40%, from an intraday high of $45.00 to it’s current value of about $27.00.

So does Trump now believe that, since the world revolves around him, his election is responsible for the selloff and investors nervousness about its continued viability? Not likely. He is protected by a perverse psychological defense mechanism that is triggered whenever he is exposed to bad news about himself. This makes him immune from harm because all he can perceive is his own greatness.

However, others with actual money on the line obviously feel differently. And those others happen to be principle executives of TMTG who are cashing out before the stock descends to its actual value of next to nothing. CNBC is reporting that…

“The chief financial officer of Trump Media and two other corporate insiders sold more than $16 million worth of company stock in the week following the presidential election, according to new disclosures.

“Most of the stock was sold by CFO Phillip Juhan, who in August adopted a trading plan that revealed his intention to sell 400,000 DJT shares by December 2025.

“Trump Media director Eric Swider and Scott Glabe, the company’s general counsel, each sold fewer shares of the company, whose majority owner Donald Trump was elected president on Nov. 5. […]

“Juhan, who is also Trump Media’s treasurer, sold 320,000 shares on Friday at a price of $30.65 per share, or a total of $9.8 million worth of stock according to a Form 4 filing with the U.S. Securities and Exchange Commission.

“On Monday, Juhan sold another 64,000 shares at $32.97 per share, another $2.11 million worth, the same filing said.”

The CNBC report also noted that TMTG “report[ed] revenue of slightly more than just $1 million in the third quarter of this year,” with “losses of $19.2 million for the quarter.” So the rush to bail out is a smart move by the company’s insiders and other investors. Trump himself, however, insists that he is not selling. We’ll see.

For a some background on the financial and legal disaster that is Truth Social, see the following…

Trump’s Truth Social Scam Crashes as He Brags that It’s Booming Because He’s Winning (He’s Not)
TMTG makes a relative pittance and is losing millions. Were it to be valued according to its earnings it would be a penny stock. Its current value is entirely the result of the rubes who invest because they are indoctrinated members of the Trump cult.

Trump Media is Purging Those Too Weak to Keep Up the Crumbling Truth Social Scam (ProPublica)
An investigation of TMTG by ProPublica has just uncovered yet another example of the company’s corruption. The report found that “people with knowledge of the company” have confirmed that several top executives of the company appear to have been ousted following an internal investigation by a lawyer that the company hired to examine allegations of “mismanagement” and “misuse” of funds by it’s CEO, and Trump flunky, Devin Nunes.

LOSER Trump’s Truth Social is Well on its Way to Becoming His Next Bankruptcy
TMTG reported its earning for the second quarter of 2024. And it was not a pretty sight. As reported by Investor’s Business Daily, “Trump Media reported net sales of $836,000, down 30% vs. a year earlier. Operating costs soared to $19.5 million vs. $4.9 million a year earlier.”

Trump’s Truth Social is Shedding Users Like a Miserable Childless Woman’s Mangy Cat
The Donald Trump-controlled Truth Social platform recorded its third straight month of declining traffic. Truth Social attracted 2,112,000 unique visitors, down 38% compared to June 2023 when the site generated 3,407,000 unique visitors. It was the platform’s second worst traffic performance since June 2022 when Truth Social had only 1,891,000 unique visitors.

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

Trump’s Truth Social Scam Crashes as He Brags that It’s Booming Because He’s Winning (He’s Not)

Posted by on November 1, 2024 at 3:37 pm. 1 Comments :

Donald Trump is fond saying that any good news that happens anywhere in the world is due to him or the perception that he is likely to return to power. And conversely, that his not having control of the reins of government is responsible for any bad news. It’s a win-win perversion of reality that feeds his massive, yet fragile, ego.

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Donald Trump Circling the Drain

However, many psychological experts and academics agree that the debilitating severity of Trump’s psychoses make him unfit for any position of authority. His obvious cognitive deficiencies forebode catastrophe were he to reoccupy the White House. A warning was issued recently in “a letter signed by more than 200 mental health professionals” who said that…

“Donald Trump is dangerous because of ‘his symptoms of severe, untreatable personality disorder – malignant narcissism’, which makes him ‘grossly unfit for leadership.’ [and that he poses] an existential threat to democracy. [and that he] shows a lifetime pattern of ‘failure to conform to social norms and laws,’ ‘repeated lying,’ ‘reckless disregard for the safety of others,’ ‘irritability,’ ‘impulsivity,’ ‘irresponsibility,’ and ‘lack of remorse.

Those symptoms were evident in remarks Trump made at his cult rally Thursday in Nevada. Among his diversions from the real world was a detour he took lauding his failing Twitter ripoff, Truth Social. As usual, he sought to portray everything that he touched as golden, no matter how absurdly misguided (video below). He said that…

“‘Sir. You’ll never get the name ‘Truth,’ sir. That’s a term that you will never get.’ I said I only need five letters, right?. I said ‘Wouldn’t ‘Truth’ be great?’ They said ‘Sir, you won’t get it. You won’t get it.’ I said ‘Check.’ They said ‘Sir, I will, but you’re not gonna get it.’ ‘CHECK!’ And they came back, ‘Sir, it was available and we bought it for $2,000.’ Can you believe it?”

Let’s pause here to note that this is another one of Trump’s wholly imaginary discussions with the voices in his head who always call him “Sir.”. However, the fact is that he did not get the name “Truth” for his website. He got “Truth Social.” The “Truth” dot com domain is currently owned by a hardware business in Owatonna, Minnesota. Undaunted, Trump continued…

“And then it had a little burst. I don’t know what the hell’s going on. So. here’s my friend, he said they deplatform you, they take it all away, they try to destroy you. And you open up something and, as of yesterday it was worth 10 billion crazy dollars. Did you see that? Ten billion dollars, Mr. Senator. And they are going crazy.”

It’s pretty safe to agree with Trump when he admits that “I don’t know what the hell’s going on.” Although he’s also right about the current net asset value of the stock of Truth Social’s corporate parent, Trump Media and Technology Group (TMTG). However, that value is entirely the result of the rubes who invest because they are indoctrinated members of the Trump cult.

TMTG makes a relative pittance and is losing millions. Were it to be valued according to its earnings it would be a penny stock. However, when the stock recently rose in value, Trump declared that it was because he was beating Kamala Harris in the polls by a lot (he wasn’t), and that investors believed he was going to be the victor in the election. But that would be a preposterous foundation on which to invest. He is more than likely to lose, and the company would still be pretty much worthless if he won.

That said, as Trump was bragging about the value of the Truth Social, it’s value was taking a nosedive. This week it dropped about 46% from its intraweek high. Would Trump now say that the reason for that collapse is that he’s losing in the polls and and investors expect Harris to beat him next week? Not likely. That’s where the defense mechanism of his mental maladies kicks in. His psyche is immune from harm because all he can see is his perceived greatness.

BONUS UPDATE: Trump Media Outsourced Jobs to Mexico Even as Trump Pushes “America First”

In the meantime, here is a brief record of the disastrous existence of Truth Social and TMTG…

Trump Media is Purging Those Too Weak to Keep Up the Crumbling Truth Social Scam (ProPublica)
An investigation of TMTG by ProPublica has just uncovered yet another example of the company’s corruption. The report found that “people with knowledge of the company” have confirmed that several top executives of the company appear to have been ousted following an internal investigation by a lawyer that the company hired to examine allegations of “mismanagement” and “misuse” of funds by it’s CEO, and Trump flunky, Devin Nunes.

LOSER Trump’s Truth Social is Well on its Way to Becoming His Next Bankruptcy
TMTG reported its earning for the second quarter of 2024. And it was not a pretty sight. As reported by Investor’s Business Daily, “Trump Media reported net sales of $836,000, down 30% vs. a year earlier. Operating costs soared to $19.5 million vs. $4.9 million a year earlier.”

Trump’s Truth Social is Shedding Users Like a Miserable Childless Woman’s Mangy Cat
The Donald Trump-controlled Truth Social platform recorded its third straight month of declining traffic. Truth Social attracted 2,112,000 unique visitors, down 38% compared to June 2023 when the site generated 3,407,000 unique visitors. It was the platform’s second worst traffic performance since June 2022 when Truth Social had only 1,891,000 unique visitors.

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

Trump Media is Purging Those Too Weak to Keep Up the Crumbling Truth Social Scam (ProPublica)

Posted by on October 5, 2024 at 1:30 pm. 1 Comments :

From its inception, the Trump Media and Technology Group (TMTG) has been a shady operation steeped in scandals that are rampant with legal, financial, and ethical misconduct. Although the disgraceful record of this corporate parent of Truth Social will surprise no one, considering the unscrupulous character (or lack thereof) of the syndicate’s boss, Donald Trump.

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Donald Trump, Twitter

An investigation of TMTG by ProPublica has just uncovered yet another example of the company’s corruption. Not that more examples were necessary to grasp just how rotten this organization is. And its performance in the social media marketplace has been less than impressive. In fact, it’s been downright abysmal.

SEE THIS: LOSER Trump’s Truth Social is Well on its Way to Becoming His Next Bankruptcy

The ProPublica probe reveals the hemorrhaging personal situation at the company that is run by Devin Nunes, a devoted Trump flunky. Nunes had zero experience in either business or technology when Trump persuaded him to resign his seat in Congress to head TMTG. And now it appears that the same sort of unflinching loyalty that Trump demands is the standard operating procedure at Trump Media. According to ProPublica…

“Former President Donald Trump’s media company has forced out executives in recent days after internal allegations that its CEO, former Rep. Devin Nunes, is mismanaging the company, according to interviews and records of communications among former employees.

“Several people involved with Trump Media believe the ousters are retaliation following what they describe as an anonymous ‘whistleblower’ complaint regarding Nunes that went to the company’s board of directors.”

The ProPublica report found that “people with knowledge of the company” have confirmed that the chief operating officer, chief product officer, and other lower level personnel, appear to have been ousted following an internal investigation by a lawyer that the company hired to examine allegations of “mismanagement” and “misuse” of funds by Nunes.

However, the internal probe was not to ascertain whether there was misconduct, but instead to identify the disloyal scoundrels who dared to report it. That seems to be what resulted in the terminations of the executives who reported to Nunes.

So now, a company that has been failing from day one, and that has been the subject of numerous legal and regulatory investigations, and that has lost about 60% of its value since it went public, is now running without key operational personnel. Which leaves the subject of the misconduct allegations, Nunes, to run the business unchallenged by anyone with a modicum of morality.

That should help to raise the prospects for this Ponzi scheme, where only the early investors (e.g. Trump, Nunes) will ever see any profit. The rest of the rubes will – and already have – lose vast fortunes. What else would you expect from an enterprise with the financial and legal history of this flagrant fraud? For the record…

Trump’s Truth Social is Shedding Users Like a Miserable Childless Woman’s Mangy Cat
The Donald Trump-controlled Truth Social platform recorded its third straight month of declining traffic. Truth Social attracted 2,112,000 unique visitors, down 38% compared to June 2023 when the site generated 3,407,000 unique visitors. It was the platform’s second worst traffic performance since June 2022 when Truth Social had only 1,891,000 unique visitors.

Are Trump’s Nazi Videos and Hateful Posts Why Truth Social Lost $327 Million and 19% of Users?
In the just first quarter of 2024 TMTG lost $327 million on revenue of less than $1 million. Which makes its stock valuation of $6 billion something of a joke. What’s more, Truth Social lost nearly 20% of their active users in the past year.

Trump’s Truth Social is Revealed to Be Another Terribly Risky Trump Scam – By Its Own Prospectus
A quick look at the company’s prospectus should frighten off any astute investors. It is exposed as “a high-risk, speculative operation with few hard numbers behind it. It’s already the subject of subpoenas, from regulators and a grand jury, even though it’s barely off the ground.”

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

Herr Trump Threatens to Prosecute Google for Showing Stories that Hurt His Tender Feelings

Posted by on September 28, 2024 at 1:16 pm. 0 Comments :

Nothing sets an aspiring authoritarian’s heart aflutter more than the prospect of silencing the voices of malcontents who dare to criticize them. It’s the reason that tyrants take such pleasure in seeing their foes fall out of windows and in muzzling the free press.

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Donald Trump Pacifier Fox

America’s most prominent wannabe dictator, Donald Trump, is no exception to this. For years he has embraced the Stalinist slogan lambasting the media as “the enemy of the people.” And he hasn’t been shy about hurling vicious insults at journalists and news organizations. Even Fox News isn’t safe from Trump’s wrath…

SEE THIS: Crybaby Trump Unleashes a Flaming Freak Out Vilifying Fox News for Not Censoring his Foes

Trump’s relentless assault on media includes digital media as well. On Friday he lashed out on his own floundering social media scam, Truth Social, to unburden himself of the overheated hostility that he harbors for the press. This time his rage was directed at Google, who he alleges is steeped in bias against him. Trump ranted that…

“It has been determined that Google has illegally used a system of only revealing and displaying bad stories about Donald J. Trump, some made up for this purpose while, at the same time, only revealing good stories about Comrade Kamala Harris. This is an ILLEGAL ACTIVITY, and hopefully the Justice Department will criminally prosecute them for this blatant Interference of Elections. If not, and subject to the Laws of our Country, I will request their prosecution, at the maximum levels, when I win the Election, and become President of the United States!”

There is so much wrong with that outburst that it requires a little further exploration. To begin with, Trump says that some undefined illegality “has been determined” in Google’s practices. The obvious question is: determined by whom? Sean Hannity? Rudy Giuliani? Melania’s hairdresser? The ghost of Rush Limbaugh? Or some other disembodied voices in his head?

Secondly, what law does Trump imagine has been violated? Was it Section 666 of the U.S Penal Code prohibiting felonious meanness aimed at hypersensitive narcissists?

Third, Trump’s allegation that Google is “only revealing and displaying bad stories” about him is unsupported by any factual data. It isn’t even supported by any fabricated data. It’s just Trump whining about it to his cult followers on his own website that only reveals and displays slobbering adorations of him. Most of which are “made up for this purpose.”

Meanwhile, Trump is outraged by what he claims are good stories about Kamala Harris. So in effect, he’s complaining that Harris is doing too many things that generate positive press. What a devious plot by her. However, if Trump really wants to see fewer bad stories about himself, he might want to consider doing fewer bad things. For starters, he could cut back on his lying, and racism, and infantile insults, and intentional divisiveness, and sucking up to foreign dictators, and impugning America as a failed, third world country.

Finally, Trump expresses his hope that “the Justice Department will criminally prosecute” Google. And he issues a direct threat that, if elected, he will “request their prosecution, at the maximum levels.” Which would violate the ethical principles that separate the presidency from the Justice Department. And still Trump doesn’t say on what grounds he would prosecute. Not that it matters to him.

The only thing that Trump is interested in is securing unwaveringly worshipful celebrations of his messianic perfection. And if the media doesn’t comply, then he will see to it that they are harshly punished. And somehow that manifestation of totalitarian oppression remains appealing to some glassy-eyed segment of the American public, and pretty much all of the MAGA-tized Republican Party.

Which makes it all the more imperative that Democrats prevail at the polls in November at every level, from the presidency to the sanitation department. Which, ironically, would be an appropriate career path for Trump to traverse.

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And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

Circling the Drain: Trump’s Truth Social Craters Since the Kamala Harris Speech at the DNC

Posted by on August 27, 2024 at 1:53 pm. 1 Comments :

The campaign strategies of Donald Trump have always rested on his dystopian nightmares of what the world will become without his divine direction as dictator. He credits himself with every positive occurrence that happens whether he is in office or not. And he blames his foes for any negative outcomes even when he is obviously at fault.

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Donald Trump Circling the Drain

The acute case of malignant narcissism that Trump suffers from leads him to wallow in a constant stew of psychoses alternating between victimhood and delusions of grandeur. All the while he fantasizes about triumphing over his opponents with villainous glee and powers that he doesn’t have.

SEE THIS: Wannabe Dictator Trump Seeks to Cancel Kamala Harris asking: ‘What Gives Her the Right to Run?’

Lately Trump has been fear mongering about a 1929-style stock market crash if Kamala Harris is elected. He’s also claiming that the Market’s steady rise is due to investors believing that he will return to the White House. For instance, Trump said this just two weeks ago…

“Many people say that the only reason the stock market is up is because people think I am going to win. Did you ever hear that? But there was one day a couple of weeks ago when they were not thinking that and you saw what happened. This will be a 1929 crash.”

These self-serving and ignorant remarks raise three salient points:

  • 1) He’s been predicting a Stock Market crash for years without it ever coming to pass. He did it when he was running against both Hillary Clinton and Joe Biden.
  • 2) It’s ridiculous to say that stock values trade on speculation about partisan politics, rather than earnings and the economy.
  • 3) Why would investors think that Trump is going to win when Harris has taken the lead in virtually every poll and has all of the momentum?

Let’s just set aside Trump’s preposterous prophecies about the Market and instead take a look at the real world results of an enterprise that he actually has some influence over. His Trump Media and Technology Group (DJT) is the parent company of his floundering social media scam, Truth Social. And its recent performance is an illuminating indicator of his fabled business acumen.

Just in the few days since Kamala Harris delivered her nomination acceptance speech at the Democratic National Convention, Trump’s stock has declined 18%. In the same time frame the Dow Jones index rose 1.3%. And taking a broader view, DJT dropped precipitously in the past three months since the stock became publicly traded. It is down a whopping 57%, while the the Dow is up 6.6%.

UPDATE: Adding to the pressure on the stock price of Trump’s media scam is that its own executives (CEO Devin Nunes, COO Andrew Northwall, CFO and treasurer Juhan Phillip) are selling huge chunks of their shares. Perhaps that is their attempt to bail out before Trump has a chance to sell his shares, which isn’t until September 20.

The troubles that are drowning Trump’s website and stock are nothing new. What follows is a partial collection of the tribulations – financial and legal – that his failing enterprise has endured.

LOSER Trump’s Truth Social is Well on its Way to Becoming His Next Bankruptcy
Trump Media reported net sales of $836,000, down 30% vs. a year earlier. It was the third straight quarter of roughly $800,000 in revenue, up slightly from Q1’s $770,500. Operating costs soared to $19.5 million vs. $4.9 million a year earlier.

Trump’s Truth Social is Shedding Users Like a Miserable Childless Woman’s Mangy Cat
The Donald Trump-controlled Truth Social platform recorded its third straight month of declining traffic. Truth Social attracted 2,112,000 unique visitors, down 38% compared to June 2023 when the site generated 3,407,000 unique visitors. It was the platform’s second worst traffic performance since June 2022 when Truth Social had only 1,891,000 unique visitors.

Are Trump’s Nazi Videos and Hateful Posts Why Truth Social Lost $327 Million and 19% of Users?
In the just first quarter of 2024 TMTG lost $327 million on revenue of less than $1 million. Which makes its stock valuation of $6 billion something of a joke. What’s more, Truth Social lost nearly 20% of their active users in the past year.

Trump’s Truth Social is Revealed to Be Another Terribly Risky Trump Scam – By Its Own Prospectus
A quick look at the company’s prospectus should frighten off any astute investors. It is exposed as “a high-risk, speculative operation with few hard numbers behind it. It’s already the subject of subpoenas, from regulators and a grand jury, even though it’s barely off the ground.”

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

RELATED STORIES:

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

LOSER Trump’s Truth Social is Well on its Way to Becoming His Next Bankruptcy

Posted by on August 10, 2024 at 3:49 pm. 1 Comments :

The last thing that Donald Trump needs now, as his campaign flounders in the wake of the Kamala Harris tidal wave, is for his business enterprises to crumble under the weight of his incompetence. Trump has already had numerous companies fail, including his egomaniacally self-branded meat, vodka, airline, university, and four (count ’em 4!) casinos.

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Donald Trump Circling the Drain

Trump’s resume in business was supposed to be a validation of his qualifications to serve as president. Instead, it is actually evidence of his ineptitude, which was affirmed by the abysmal job he did during his occupation of the white House. He mismanaged the COVID pandemic with horrific results. He tanked the economy. He alienated our international allies. He lost a record number of jobs. In other words, he did to America what he did to his bankrupt businesses. Yet he has the gall to disparage the leadership of Biden and Harris.

SEE THIS: UH-OH! Trump Meltdown Reveals Kamala Harris Plot to ‘Destroy’ the ‘County’ of America

On Friday the Trump Media and Technology Group (TMTG, parent company of of Truth Social), reported its earning for the second quarter of 2024. And it was not a pretty sight. As reported by Investor’s Business Daily…

“Trump Media reported net sales of $836,000, down 30% vs. a year earlier. It was the third straight quarter of roughly $800,000 in revenue, up slightly from Q1’s $770,500. Operating costs soared to $19.5 million vs. $4.9 million a year earlier.”

So TMTG is sinking faster than a boat with an electric battery. Watch out for the sharks – and the windmills, and Hannibal Lecter. Its stock (DJT) has dropped a whopping 63% since its late March high when it went public. It has a wildly unworthy valuation of about $5 billion, despite having no revenue to speak of, and massive losses. So it has a lot of room to fall even farther.

The weakness of Trump’s stock makes it less useful as a vessel to funnel laundered funds to him by his political allies, which include foreign interests. There was speculation that such illegal tactics were being used to buy influence with Trump should he be reelected. And those weren’t the only legal shenanigans associated with TMTG. There has been a rash of civil and criminal charges that plagued the enterprise and its principles from its inception, including disclosures of alleged funding from Russia.

Trump’s personal stake in the company could net him a hefty windfall. But he can’t cash out until late September. The stock is likely to have lost significantly more value by then. And if he does sell, it will trigger a crushing rush to the exits that could cripple the company and its future prospects as a going concern. Not that he cares. Trump’s modus operandi has been to run companies into the ground, skim off the cream at the top, and let everyone else suffer from the financial catastrophe that he created. This will be just be more of the same.

SEE ALSO: Trump is Trying to Provoke Panic Over a Common Stock Market Drop to Save His Failing Campaign

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Trump’s Truth Social is Shedding Users Like a Miserable Childless Woman’s Mangy Cat

Posted by on July 31, 2024 at 12:56 pm. 1 Comments :

it’s only been about a week and a half since President Biden passed the torch to Vice-President Kamala Harris. But the response has been an unprecedented tsunami of support from the American people that includes Democrats, Independents, and even disaffected Republicans. Hundreds of millions of dollars have been raised and tens of thousands of volunteers have signed on.

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The juggernaut that Harris is now commanding has upended the election in profound ways. The focus of the race has switched from an obsession with the nervousness of Democrats, to the weirdness of Republicans, especially Donald Trump and JD Vance. Even Fox News has broken ranks with their Dear Leader with an occasional nod to reality…

SEE THIS: WATCH: Fox News Host Says that Trump Calling Kamala Harris ‘Dumb’ is a ‘Profound Mistake’

However, Trump’s tribulations do not end with his sagging electoral prospects. One of the main reasons he’s running at all is to accumulate more wealth via grifting off of his glassy-eyed cult followers. And that isn’t going any better than his campaign is. [Note: The other reasons are to stay out of prison and to amass tyrannical power] A new report by “The Righting,” a conservative monitor of right-wing media, just released user data for Trump’s Truth Social that is sure to send the ketchup flying at Mar-a-Lago…

“The Donald Trump-controlled Truth Social platform recorded its third straight month of declining traffic. Truth Social attracted 2,112,000 unique visitors, down 38% compared to June 2023 when the site generated 3,407,000 unique visitors. It was the platform’s second worst traffic performance since June 2022 when Truth Social had only 1,891,000 unique visitors.”

These numbers are not only declining precipitously, they are virtually meaningless in the social media world. For comparison, Twitter/X, the site that Trump left to launch Truth Social, has more than 200 million daily active users. Which makes the valuation of Trump’s scam site – Trump Media and Technology Group (TMTG) – on Wall Street as preposterously exaggerated as his real estate assets that resulted in a nearly half billion judgment for financial fraud.

Trump’s stock price is not driven by the company’s financials. Rather, it is driven by two main factors. One: It’s a vehicle for the wealthy and corporations, even foreign interests, to surreptitiously (i.e. illegally) buy influence. And two: It trades on the whims of his cult disciples who believe that they will cash in when he returns to the White House. That latter scenario is becoming less plausible every day. The stock (DJT) is down 56% since it went public on March 26, 2024.

In addition to the financial woes of Truth Social, it has a long history of legal problems as well. And there is news on that front. A new ProPublica investigation has found some more shady business dealings at TMTG. It involves the acquisition of a tech company with tentacles that reach into Slovenia, China, and Russia. Although both it’s operations and executives are mysterious and unaccountable. Could it be another pipeline to funnel funds between Trump and businesses and/or governments with conflicts of interest?

Trump’s Truth Social has never been a a good business or investment. It has been unable to attract or maintain a significant user base. It has failed to produce sufficient revenue to remain in business. It has been horribly mismanaged by incompetents and criminals. And there is abundant evidence of all of that…

Are Trump’s Nazi Videos and Hateful Posts Why Truth Social Lost $327 Million and 19% of Users?
In the just first quarter of 2024 TMTG lost $327 million on revenue of less than $1 million. Which makes its stock valuation of $6 billion something of a joke. What’s more, Truth Social lost nearly 20% of their active users in the past year.

Trump’s Truth Social is Revealed to Be Another Terribly Risky Trump Scam – By Its Own Prospectus
A quick look at the company’s prospectus should frighten off any astute investors. It is exposed as “a high-risk, speculative operation with few hard numbers behind it. It’s already the subject of subpoenas, from regulators and a grand jury, even though it’s barely off the ground.”

Trump’s Truth Social Reports Massive Losses and Warns that it Could Go Out of Business
A Securities and Exchange Commission (SEC) filing by the company reveals its financial frailty. The report paints a pitiful picture of the enterprise’s prospects going forward and reveals that it has lost $31.5 million since it opened for business just two years ago.

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

From Hush Money to Flush Money: Trump’s Felony Convictions Trigger ~50% Truth Social Stock Flop

Posted by on June 20, 2024 at 1:40 pm. 0 Comments :

It has been nearly a month since Donald Trump was found guilty of 34 felony counts of falsifying business records in order to cover up his affair with adult film star, Stormy Daniels. Trump and his team have been frantically reacting to his being the first former president ever to be convicted of felonies by alternately whining that the system is “rigged” against him, and/or bragging that it’s all going to be a huge benefit for him. Which means that he doesn’t really believe either of those scenarios.

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Donald Trump, Stock Market

In the wake of his convictions, Trump has been shaken by the reality that he is facing potentially severe consequences when his sentencing is handed down next month. He’s behaving like a desperate reality TV show character who is scared witless and is grasping at any notion that will relieve his fears. He is even lashing out at supporters, including his Ministry of Propaganda, Fox News…

SEE THIS: TRUMP IS RIGHT! In a Mad Rage, Felon of Foy Declares that ‘Nobody Can Ever Trust Fox News’

However, Trump’s problems are not confined to his legal dilemmas. In the few short weeks since he was convicted, his financial fortunes have taken a significant hit. The stock for his floundering social media scam, Truth Social, has lost nearly 50% of its value, declining from about $52.00 on the day his verdict was announced, to about $27.00 now. The most recent drop came after early investors unloaded their shares on the first day they were allowed to by the Securities and Exchange Commission.

“The share price of Truth Social owner Trump Media & Technology Group (TMTG) slid by more than 17 percent in after-hours trading on Tuesday, showing that investors were wary of additional shares being approved for resale by the Securities and Exchange Commission and possibly diluting their holdings — and more generally that there’s just not a very strong business case for the outfit’s once-soaring share price.”

That decline is just what has occurred since Trump was convicted. The stock is down even more (66%) from its $80.00 high three months ago. All of this means that the value of the enterprise to Trump is shrinking by the day. And he is subject to a share lock-up that prohibits him from selling any stock until late September. By then it could – and should – be essentially worthless.

Trump’s Truth Social has never been a a good business or investment. It has been unable to attract or maintain a significant user base. It has failed to produce sufficient revenue to remain in business. It has been horribly mismanaged by incompetents and criminals. What follows are some of the reasons that anyone succumbing to the scam was foolish and destined for disaster…

Are Trump’s Nazi Videos and Hateful Posts Why Truth Social Lost $327 Million and 19% of Users?
In the just first quarter of 2024 TMTG lost $327 million on revenue of less than $1 million. Which makes its stock valuation of $6 billion something of a joke. What’s more, Truth Social lost nearly 20% of their active users in the past year.

Trump’s Truth Social is Revealed to Be Another Terribly Risky Trump Scam – By Its Own Prospectus
A quick look at the company’s prospectus should frighten off any astute investors. It is exposed as “a high-risk, speculative operation with few hard numbers behind it. It’s already the subject of subpoenas, from regulators and a grand jury, even though it’s barely off the ground.”

Trump’s Truth Social Reports Massive Losses and Warns that it Could Go Out of Business
A Securities and Exchange Commission (SEC) filing by the company reveals its financial frailty. The report paints a pitiful picture of the enterprise’s prospects going forward and reveals that it has lost $31.5 million since it opened for business just two years ago.

Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”

Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.

Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.

Trump Brags that Truth Social is the ‘Voice’ of His ‘Movement’ and Begs His Cult to Support It

Posted by on April 12, 2024 at 1:38 pm. NO Comments :

Shortly after Donald Trump incited the violent insurrection at the Capitol on January 6, 2021, he was banned from Twitter in order to prevent him from fomenting more riots by spreading more lies about the 2020 presidential election being “rigged and stolen” from him.

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Donald Trump

In retaliation for that preventative measure by the responsible moderators at Twitter at the time, Trump launched his own social media site, Truth Social, that he promised would be a bastion of free speech for everyone. Of course, that was never the purpose of the site. It was always intended to be a platform for Trump to disgorge his rancid rants that consisted almost entirely of attacking his enemies, exalting himself, and funneling cash into his own pockets. The latter of which hasn’t worked out particularly well for him…

SEE THIS: Trump’s Truth Social Craters in First Week of Trading, Auditor Doubts Its Ability to Continue

In the few weeks that the Trump Media and Technology Group (TMTG) stock has been listed on the NASDAQ, it has suffered devastating losses. It has declined 62.5% from the high it hit on its first day of trading. Anyone who invested in it, and didn’t sell on day one, has already lost a bundle. It’s CEO couldn’t account for its flopping on Fox News. And it’s only gonna get worse.

Consequently, Trump is attempting to pump up the stock so that there is something left for him when he is legally able to dump it. Which, barring any favors from the TMTG boar, won’t be for six months. So on Friday morning Trump posted a comment on Truth Social to beseech his glassy-eyed cult disciples to bail him out.

“I am so proud of Truth Social, because I believe it represents the Make America Great Again Movement, and it shows the Spirit and Love of our Country. If people who believe in putting America First and want to Make America Great Again, support TRUTH, we will be your Voice like never before, and a Real Voice is what our Country needs, because we are in decline, and must bring America to Greatness. Think of this as a Movement, the Greatest Movement in the History of our Country. We are going to Save our Country, and Make America Great Again, GREATER THAN EVER BEFORE!”

Let’s set aside the pathetic spectacle of this fake billionaire begging his saps to salvage his sinking social media scam. And never mind the absurdity of Trump praising it as a place that “shows the Spirit and Love of our Country,” when it’s mostly a fetid swamp of hostility and negativity. Even in this comment Trump maligns America as a country “in decline.”

What Trump is actually revealing here is that the site is not, and never was, the Internet “town hall” that he promised. He is now saying explicitly that it is his vehicle to exclusively promote his interests and to advance his “movement.” And therefore, he implores his MAGA minions to “support TRUTH.” In other words, join and prop up his failing business and stock.

So according to Trump, Truth Social isn’t really a free speech platform at all. It’s the PR arm of a partisan movement (aka cult), and slush fund generator for Dear Leader. But if it were truly “the Greatest Movement in the History of our Country,” he wouldn’t have to shamelessly solicit this support, and sponge off of his pitiful flock, and lie about his imaginary success. But then again, when has he ever done anything but that?

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Be sure to visit and follow News Corpse
on Twitter and Facebook and Instagram and Threads.

And check out my books on Amazon:

Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

Thanks so much for your support.