Skip to main content

Featured

People's March: Thousands Rally in Washington Against Trump Ahead of Inauguration

  Thousands of demonstrators, predominantly women, took to the streets of Washington, D.C., on Saturday to protest President-elect Donald Trump just days before his inauguration. The event, known as the People's March, has been held annually since 2017 and was previously called the Women's March. The march, organized by a coalition of groups with varied interests such as climate change, immigration, and women's rights, aimed to confront "Trumpism" and draw on past successes against autocrats. Despite expectations of 50,000 participants, around 5,000 people gathered at three parks before marching to the Lincoln Memorial for the rally. Protesters carried signs with messages like "Feminists v. Fascists" and "People over politics," and many wore the iconic pink "pussy hats" from the 2017 Women's March. The event highlighted a range of issues, including gender justice, bodily autonomy, and democracy. The People's March has evolved ...
Post a Comment
Read more
Labels

Trump’s “Truth Social” Stock Plummets Amidst Market Turmoil


 


Former President Donald Trump’s much-hyped venture, Truth Social, has suffered a catastrophic crash as soon as the markets opened. Shares of Trump Media & Technology Group (TMTG), the company behind Truth Social, plummeted a staggering nine percent in a single morning. Here’s what you need to know about this financial fiasco:

  • The merger between TMTG and a blank check acquisition company last month initially inflated the stock’s value, but the reality has been harsh. Truth Social’s revenue for the past year was a meager $4.1 million, while losses amounted to a whopping $58 million.
  • Investors, once enamored by the astronomical valuation, are now unloading their shares. The crash has wiped out billions of dollars in value, including over $1 billion of Trump’s own net worth.
  • At the time of writing, shares hover around a dismal $36, well below the merger price. The truth, it seems, is that the market has little faith in this social media experiment.

A Dubious Venture

  • Critics argue that Truth Social’s business model resembles a classic pump and dump scheme. Trump’s most ardent supporters, however, remain undeterred. For them, losing money in a failed Trump venture is not a betrayal but a privilege.
  • Political commentator Paul Waldman aptly summarized the situation: “When it crashes to earth, they’ll thank Trump for the privilege of being shaken down” .
  • Barry Diller, chairman of IAC and Expedia, minced no words: “It’s a scam, just like everything [Trump’s] ever been involved in is some sort of con” .

Lessons Learned

  • Truth Social’s fall from grace serves as a cautionary tale. While the former president may have hoped to profit, investors are left counting their losses.
  • As the wreckage settles, one thing remains clear: The celestial rise of Truth Social was short-lived, and its descent mirrors the unpredictability of the cosmos itself.


Labels:

Comments

Post a Comment

Popular Posts