Social Media

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

Posted by on November 14, 2024 at 11:10 am. NO 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. NO 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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Fox Nation vs. Reality:
The Fox News Cult of Ignorance.

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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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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 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. NO 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.

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

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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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Fox News Host Asks Trump’s Truth Social CEO About its Stock Flop, Gets Babbling Lies in Response

Posted by on April 7, 2024 at 1:04 pm. 2 Comments :

The saga of Donald Trump’s frequent financial failures continues unabated into the 2024 presidential election cycle. The most recent example of a Trump enterprise that is destined to go belly up is his ego-driven social media scam, Truth Social, that he launched after he was banned from Twitter for posting flagrant and dangerous lies.

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Donald Trump, Stock Market

In its short history, the Trump Media and Technology Group (TMTG), which runs Truth Social, has racked up an impressive record of failure. It has lost millions of dollars, been investigated for securities fraud, and seen its early investors arrested for insider trading. And to top it off, its newly listed stock suffered a massive meltdown, resulting in fortunes being lost by Trump’s most devoted supporters.

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

On Sunday morning Devin Nunes, the CEO of TMTG, and former Trump-fluffing GOP congressman, was interviewed by Maria Bartiromo on Fox News. The segment began with a surprisingly accurate summary of the troubles the stock encountered in going public. Bartiromo, ordinarily an ardent purveyor of pro-Trump propaganda, prefaced her interview with some uncharacteristically (for Fox News) factual information (video below)…

“President Trump’s media company has had a volatile two weeks. The stock finished down about 30% this week. The company, which operates Trump’s Truth Social platform, lost $4 billion in market value after gaining six billion in value during its debut on the Nasdaq two weeks ago. For 2023, Trump media posted a loss of $58 million on revenue and $4.1 million in a regulatory filing. The company also disclosed that its auditor had raised concerns about its ability to continue operating before its recent merger and IPO.”

OUCH! Bartiromo then introduced Nunes and asked him pointedly, “When would you expect this company to turn profitable?” Notice that Nunes never comes close to answering the question. Instead, he rambles incoherently about unrelated and/or imaginary obstacles that he says the company has faced. And true to the Trump ethos, the company was a victim of a devious cabal of covert enemies conspiring against it.

“Look, it’s important to remember that those numbers are based on what was the longest IPO in history. So we were over regulated. So if you actually look at the cost we built Truth Social – our beachhead against Big Tech, an impenetrable beachhead that everybody said couldn’t be done without using Big Tech companies – that was built for a fraction of what many of these Big Tech dinosaur companies were built for. So even if you take the ridiculous cost that it took us to get to this point, we are well positioned. Why are we well positioned? Because we have no debt. We’re coming out of this with no debt, a platform that works really, really well, that communicates to millions of people. And then we have $200 million in the bank.”

For the record, it was not the longest IPO in history. And his definition of “over regulated” just means having been required to comply with the same laws that every other company does prior to a stock market listing. If it was launched on the cheap, as Nunes claims, that’s apparent in how often it has crashed, including on the day it premiered on the NASDAQ. So much for it being “a platform that works really, really well.”

As for Nunes’ claims that the company is “well positioned” and free of debt, that reeks of stock fraud considering its huge losses, of which about 67% is interest on outstanding loans. Undeterred by reality, Nunes then unleashes a buzzword salad, saying that he is looking at “the entire ecosystem,” and asserting that the primary question his business is asking is “What does it take to make sure that we protect people in the United States and around the globe from these tyrants of Big Tech who want to silence them?” See? It’s all an altruistic venture for Nunes and Trump.

Of course, Nunes is not alone in his deceitful grifting. Trump has also been pumping this dump of a stock. A few days ago he posted a comment blasting all of his competitors as “those in the Radical Left Democrats Party who are failing at every level.” And he touted Truth Social as “the primary way I get the word out and, for better or worse.” It’s interesting that he acknowledges the “worse” part of that. Then he claimed that “people want to hear what I have to say, perhaps, according to experts, more than anyone else in the World.” And by “experts” he means his MAGA cultists and other assorted rubes, such as his army of disbarred attorneys and the incarcerated January 6th insurrectionists.

If Nunes’ appearance on Fox News is successful in getting some more of their viewers to buy TMTG stock Monday morning, it may get a bit of bounce. But in the end it is still likely to sink to a level approaching the amount of debt that Nunes says the company has – ZERO! And they will get what they deserve for believing an obvious con men.

UPDATE I: Apparently Nunes’ appearance on Fox News was not successful (surprise). Rather than the bounce he hoped for on the Monday morning following his interview, the TMTG stock dived another 10%, putting it down about 55% from it’s high, and below it’s opening price one the first day of trading.

UPDATE II: One week later, the stock is continuing to decline. So the company announced that it is issuing 21.5 million new shares, diluting the value even more.

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Fox Nation vs. Reality:
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Trump’s Truth Social Craters in First Week of Trading, Auditor Doubts Its Ability to Continue

Posted by on April 1, 2024 at 12:30 pm. 4 Comments :

The myth of Donald Trump as a savvy businessman has been circling the drain for decades. In reality he is a nepo-baby who inherited his wealth and promptly lost much of it in failed real estate deals and multiple bankruptcies. He only managed to salvage his reputation by working as a TV game show host for fourteen seasons of “The Apprentice,” where he playacted as a successful and ruthless CEO.

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Donald Trump Circling the Drain

Trump’s latest misadventure in business is his Trump Media and Technology Group (TMTG), a hollow shell of company formed by stealing a Twitter clone’s code and merging with a blank-check place holder on the Nasdaq stock exchange. From its inception it has stumbled through financial and legal sinkholes that would spell doom for any business not fronting for a populist cult leader.

New filings by TMTG show just how dismal the financial condition of the company is. NBC News is reporting that…

“Trump Media and Technology Group, which operates the Truth Social platform, reported it lost $58.2 million in 2023 while generating total revenues of $4.1 million, according to the Monday filing with the Securities and Exchange Commission. Trump Media listed its largest expense for the year as interest payments totaling more than $39 million.”

So TMTG is operating deep in the red, just like most of the red states where Trump’s most devoted disciples reside. And it’s notable that about 67% of the company’s reported expenses are in interest payments. That means they are heavily leveraged with loans that they will likely have trouble repaying considering their feeble revenue. The report went on to reveal even more ominous news, saying that…

“‘The filing includes a note from an independent accounting firm, Colorado-based BF Borgers CPA PC, warning that Trump Media’s ‘operating losses raise substantial doubt about its ability to continue as a going concern.’ The firm has worked with Trump Media since 2022.”

Anyone with even a novice’s knowledge of investing would have recognized that TMTG (with the doom-fated ticker symbol, “DJT”) was a catastrophe waiting to happen. And in its very first week on the stock market, it proved its worthlessness. Following the release of its financial filing the stock nosedived about 20%. It quickly sunk to the level that it priced at on its opening day a week ago. Shareholders who bought in at the beginning lost as much as 38% as the stock dropped from its high of $79.00 to under $50.00.

A lot of the press chatter about the stock has focused on the potential windfall it would present for Trump. At one point he was said to have gained a paper bounty of $6 billion. However, that presupposes that he sells his shares while stock price remains in the stratosphere. Which is a ship that has already sunk.

Furthermore, Trump is bound by a lock-up provision that prohibits him from selling any shares for six months. While the TMTG board – made up of mostly Trump flunkies – could vote to waive that provision, it would still be problematic for him to sell. For one thing, it would immediately tank the share value of the stock. That would impact the holdings of all of the board members and temper any enthusiasm to give Trump a waiver.

What’s more, if the board did give Trump a waiver, it would open the board members up to lawsuits from every other shareholder, including deep-pocketed institutions, who would lose money as a result. It would, therefore be pretty stupid for the board to vote for a waiver that would cost the board members millions and put them in massive legal peril.

Would they do it anyway? Maybe. It is, after all, a cult. And the cult leader gets his way. He is even suing the founders of Truth Social for allegedly mismanaging the company in its early days. Although it is a retaliatory suit, because those founders sued him first for trying to deprive them of the shares they were contractually promised.

In addition to the financial risks for investors. TMTG poses a grave national security risk. Adversarial foreign interests could exploit the stock as a backdoor to funneling money (i.e. bribes) to Trump. Vladimir Putin and/or his Russian oligarchs, Mohammed Bin Salmon, Xi Jinping, and even wealthy, allegedly American billionaires, could simply purchase shares of TMTG to artificially inflate its stock price in exchange for “favors” from Trump.

All of this exposes Trump’s stock as a potentially dangerous vehicle for investors, as well as for all Americans and the sovereignty of the nation. The sooner it flatlines (representing its true value) the better. For the record, here are some other recent stories about Trump’s misadventures in social media and the stock market…

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’s Truth Social Continues to Collapse as Its Biz Partner Loses Virtually All of its Funding
The funding partner for TMTG said that it will return the remaining $533 million of the $1 billion raised to finance the venture after investors canceled $467 million of commitments.

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.

LOCK HIM UP: Trump’s TRUTH Social Scam is Being Criminally Investigated By a Federal Grand Jury
In addition to the Grand Jury proceedings, the SEC is investigating whether TMTG and DWAC executives improperly coordinated with each other and engaged in insider trading. They have also partnered with a Chinese firm with a dubious legal past.

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.