by Jeff Childers
There was more frantic crying around MSNBC’s set yesterday than around the Happy Kids preschool nursery right before drag queen story hour. The UK Telegraph ran the story yesterday, headlined “Trump’s wealth surges by $5.5bn as Truth Social starts trading.” The first sentence said it all: “Donald Trump has entered the ranks of the world’s 500 richest people after shares in his social media company surged on their Wall Street debut.”
Ta-da! In other words, the deranged “Get Trump” libs have made Donald Trump into one of the world’s 500 richest men, ranked by Bloomberg’s Billionaires Index. Great job, morons! In the article’s most wildly understated bit, the Telegraph stingily admitted that, “The deal was a boost for Mr. Trump, who has faced mounting legal bills linked to various court battles.”
Haha! I guess you could call it “a boost.” Seems like there might be a better word though.
The company’s new ticker for Trump Media & Technology Group, Corp., is Trump’s initials, ‘DJT’, which itself is a coup of sorts (although Trump has used the same ticker before). I couldn’t find any other example of a publicly-traded company trading under its founder’s initials. That’s Trump for you.
Predictably, “fake news” corporate media did not share our enthusiasm and lashed out. CNN decided Trump’s great day in the markets has created a unique ethical nightmare. Not just an ethical nightmare, mind you, but a totally unique one.
You don’t need to read it; the CNN story raised no legitimate ethical issues. It was just a bunch of whiny, insubstantial blah-blah-blah. Once MSNBC stopped crying and resentfully got back to work, the network petulantly predicted that Trump’s successes could — maybe, you never know — be a “disaster for the WHOLE country”:
The Washington Post was a little more restrained. It leaned less into unique nightmares or the wild hyperbole of apocalyptic disasters for the whole country. It couldn’t be happy though, not quite, because it still has amorphous, ambiguous “questions:”
The Post’s “questions” mainly come down to the boilerplate financial issues. It need hardly be said, but — and this is not investment advice — obviously the Truth Social platform is wildly overpriced relative to more well-established and fully-featured platforms like TwitterX, Facebook, and TikTok. Truth Social has never made money, and it doesn’t even really have any kind of conventional market strategy. It’s run by Trump’s family and not by any digital media specialists or successful entrepreneur.
And that’s exactly what annoys them the most. Probably the majority of folks buying DJT stock are not buying shares to make money. That has nothing to do with it. You know why people are buying shares, and it is all about the 2024 election and has nothing to do with investing. We’ll se whether Trump supporters can keep the stock price afloat despite the sneaky undermining attacks that are sure to come.
But the media can’t admit or discuss any of the political aspects, because doing so would highlight Trump’s popularity relative to Broke Brain Biden’s bumbling basement non-support. So media must pretend to analyze Truth Social (DJT) as though it were some kind of traditional investment, and laughably argue whether the stock is ‘overvalued’ and credulously wonder about its future financial prospects.
The bottom line is: Trump has done it again. The RNC, under champagne-swilling prior management, was broke. The democrats were laughing about how much more money the DNC had than the Republicans. But Trump just turned all that on its head.
Apparently effortlessly, Trump saved his campaign, his campaign to save America. That’s exactly the kind of miraculous turnaround the country needs, too.
