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Finding Out

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Getting during the brief period while the getting is even remotely good, Trump is further tanking DJT by issuing more shares:

Shares of Trump Media plunged more than 15% on Monday after the company filed to issue millions of additional shares of stock.

Trump Media’s dramatic slide came as Donald Trump sat in a Manhattan courtroom for the start of his criminal trial on hush money-related charges. Trump is the majority stakeholder in the company.

Trump Media, which created the Truth Social app and trades under the stock ticker DJT on the Nasdaq, fell nearly 20% last week.

Since the company began public trading on March 26, its share price has fallen more than 62%, from an opening price of $70.90 that day down to around $27 on Monday.

I’m reminded of my favorite person from the WaPo story we discussed yesterday, who would light $1,000 ablaze in fealty to Emperor Donald — because of a Deep State conspiracy, of course — but wouldn’t actually use the shitty social media site she is “investing” in:

Carol Swain, a prominent conservative commentator in Nashville who previously taught political science at Vanderbilt University, said she invested $1,000 in Trump Media stock earlier this month, at $48 a share, over the objections of her financial adviser, who predicted the stock would dive.

“If I lose it, fine. If I make a profit, wonderful. But at the end of the day, I wanted to show my support,” she said. “There’s such an effort to destroy him and strip his wealth away, and so much glee about it. I would like to see him be a winner.”

She, too, suspects stock manipulation, arguing that “the people who hate Donald Trump would do anything to try to hurt him.” As for Truth Social itself, she said she posts there only sparingly and prefers X, where she has 35 times as many followers. “I have always wanted not to just preach to the choir,” she said.

This also explains a lot of Elon’s objectively catastrophic management of Twitter: these people don’t want an echo chamber, they want a captive audience.

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