Can anybody tell me what's up with DJT?
With a yearly revenue of $4m, losses of $40m, equity of -$8m and a business proposition that is something like "less woke than X", there is no way that this company can make money in a regular, non-fraudulant business way. However, current market cap is $6b (that's p/s of 1,500!), which even for a regular growth company would be a factor 1000 too much.
Still, after initially tanking to 30% of it's IPO price, it has recovered to 80% of its IPO price (from $66 to $23 now back to $54). I shorted for a week and made some good cash, but then fortunately left because of too much gambling for crazy borrowing prices.
Who buys this stuff? And why? Is it MAGA fans who think that Donald Trump will make them rich?
Or is it people/foreign investors who think investing a little in the next president will buy them bigger favors in the future, such as better deals with the US, getting away with invasions or a walk-out-of-jail card? That would make sense, from an investment perspective, and brings up the questions of who it is.
Or am I missing something more sinister here? Like…what's going on?
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