JRP3
Hyperactive Member
So you're just ignoring all his other business failures? This time it's different?
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
What other tech stock to consider?
- Thread starter Sanny
- Start date
TheTalkingMule
Distributed Energy Enthusiast
Business? This isn't business, it's a laughable trainwreck. I'm merely investing in it on the premise that other people will never stop piling money into it.
Just googled this spac a bit and it's freaking hilarious. The CFO is like the grandson of a deposed Brazilian dictator who's buddies with Bolsonaro. Lol!
These people are perfectly content to shovel millions of dollars into the pockets of psychopaths and Wall Street scum. I'm taking some.
I feel like you had a problem rationalizing GameStop as well. It's super simple....the price literally can't go down, it's physically impossible. Far different reasons for GME and this piece of garbage spac, but the same effect.
JRP3
Hyperactive Member
I could see short term GME gains for the lulz but I don't see any real value in the company and feel it's more likely to go down than up eventually. I think this is likely to do the same after initial hype. Not really my style of investing.
who’s up for a deadpool? on DWACAnyone else riding this Trump pump and dump? Who could be a better SPAC cheerleader than the orange man!
Bought DWAC at $11.41 premarket. If this spac merger is legit, I'll likely keep it a while. These people will blindly dump billions into it.
Trump Trying to Create Media Behemoth via Digital World Acquisition (DWAC)
Trump's TMGT plans to go public at an enterprise value of $875M in an unprecedented transaction. Digital World Acquisition (DWAC) spiked in after-hours trading.www.thestreet.com
Edit: Up 92%. If you thought the Reddit knuckleheads were crazy....
how fast will it crash and burn……
TheTalkingMule
Distributed Energy Enthusiast
Trump has huge loans coming due soon. He was such a bad credit risk that he had to personally guarantee loans that come due, I believe, in 2022. He also has a history of milking his businesses dry to feed his other needs. He will almost certainly milk the media company to pay for his lifestyle and pay his debts.
It doesn't matter if the rubes are pouring money into the company, he will likely take too much money out and it will collapse. Trump has also never been the head of a publicly traded company. The company will almost certainly violate the rules for publicly traded companies.
Trump is also becoming more and more erratic. His empire is collapsing and he is facing criminal charges, probably in multiple jurisdictions. This deal could blow up before the SPAC deal closes.
Buying at $11 and selling at some point soon, you will probably make some decent money, but I don't see it as a long term prospect.
TheTalkingMule
Distributed Energy Enthusiast
Sorry to keep bringing this up, but opinions are needed. And to be clear, I thought it went without saying there is no merit in this "media company" whatsoever. I'm just trying to figure out if I sell after 26 hours or wait.
We're paused at $132 after 1 minute of market action, up from Maybe a $15 open and $44 close yesterday. I see no end of people throwing money into this thing, can one of yall just advise when the next pauses might be so I can set sell orders? Would we need to go up another 15% from $132, or 50%, or is it more arbitrary than a specific price point?
We got any regulatory issues that might put the kibosh on this rise, or can it just keep going up and up if people want to dump their money into it?
Edit: Re-opened and paused at $157.50
We're paused at $132 after 1 minute of market action, up from Maybe a $15 open and $44 close yesterday. I see no end of people throwing money into this thing, can one of yall just advise when the next pauses might be so I can set sell orders? Would we need to go up another 15% from $132, or 50%, or is it more arbitrary than a specific price point?
We got any regulatory issues that might put the kibosh on this rise, or can it just keep going up and up if people want to dump their money into it?
Edit: Re-opened and paused at $157.50
Last edited:
JRP3
Hyperactive Member
Currently it's at $100 and dropping. It might bounce back up a little more, but I'd probably be looking at getting out. I did a bit more reading. the media company is big on hype and short on deliveries. They have grand plans to compete with Twitter, Facebook, Netflix, CNN, and Amazon web services. That would be a heavy lift for a company with experience.
The latest news is that they ripped off Mastadon for the social media site and Mastadon has given them 30 days to comply or get banned from using the software.
I also read the guy who put the SPAC together has yet to close a SPAC deal and there has never been a SPAC merger with any company which has not produced any product at all.
I wish I had known when it was $11 like you did. I'd take a short ride and jump out with a nice quick payday. But IMO this is not a long haul stock.
palmer_md
Member
Anyone having PHUN today? I missed it.
www.google.com
Phunware Inc (PHUN) Stock Price & News - Google Finance
Get the latest Phunware Inc (PHUN) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.
www.google.com
Last edited:
TheTalkingMule
Distributed Energy Enthusiast
I had a $175 sell order in for half, cancelled it, then that was the absolute peak to the dollar. Lol
I'm gonna sit on it and see what happens. The idea of Trump telling his minions to invest is a pretty clear path to go higher IMO. Maybe sell half at 125 or so. We shall see.
Weird(embarrassing) times we live in.
JRP3
Hyperactive Member
Exactly as should be expected considering who it's built around.
Politics and this Truth Social stock are inseparable, but let’s try to show some restraint with the colored posts.
I would never invest in that thing but I wouldn't bet against it either. Trump became POS because Obama insulted him during some speech he gave. If Trump can achieve the highest office, motivated by a vendetta, what can he do against Facebook and Twitter? This could be interesting.
TheTalkingMule
Distributed Energy Enthusiast
They can't possibly execute the first step it would take to create such an enterprise, nor do they really care to. He's just pumping and dumping for a quick $500M to pay off his debts.
But he'll sure as hell run it up. I'm sure it's all anyone can talk about in certain areas of the nation this weekend.
I still have my Four Seasons Landscaping t-shirt from the last time this crew was in Philly. Guliannis guy was told to schedule a press conference "outside the Four Seasons", they ended up in front of a garage door in the parking lot of Four Seasons Landscaping.
You can't even make up stuff like this. Strange days indeed.
In my news feed on the stocks I own there are stories from one of those law firms that tries to build class action lawsuits against companies for lying to stockholders. I saw it back in May and June with Array which makes equipment for commercial solar arrays. Their earnings call in May was lower than expected because the steel shortage was hurting them. The lawyers were trying to build a case that management hadn't disclosed their problems sourcing steel and that was the basis for a class action. The cases went nowhere and the stock went back up. I bought more near the bottom and I have a decent profit now.
I forget what the lawyers are claiming about TMC, but it looks even weaker than the case against Array. The short interest was very high with TMC for a while, but it's been dropping. I expect that when the class action doesn't work TMC will recover. I have an order in for another buy if it goes down a bit more. I figure if it gets stuck at $5 I'll be in the black.
TMC is a long term play. It's going to take a while before they're producing ore. They just started outfitting the mining ship a month or so back. Once they get the kinks worked out it should be incredibly cheap ore to mine. They just have to get it off the seabed and then they have one of the richest ores to process on the planet. Those orbs are almost pure marketable metals.
They have a proof of concept that worked, but there are always teething problems when something like this gets scaled up. I expect it will be at least a year before production numbers are good. Probably more like 2. At that point it could easily go up into the $20-$50 range and stay there.
It's one thing to play political games in a volatile political climate against a very unliked opponent (Hillary Clinton), but it's another thing to beat out another company in their core business when they are the established leader without a "killer app". The best anybody can realistically hope for in that climate is to carve out a niche.
Tesla was able to get a definite nose under the tent flap by making technologically superior cars. They may be one of the world's largest car makers someday, but right now they produce tiny volumes compared to the leaders. They still aren't in the top 20.
Facebook did push out MySpace, but they did it by being a flexible competitor in a market that was not yet defined at a time when MySpace had been bought by NewsCorp was was being run like an old, media outlet rather than a tech platform. Facebook was there when the leader stumbled and they had the ability to keep users engaged.
Facebook's empire is far from fossilized. I personally think Facebook is a terrible place and avoid it as much as possible, but I do have an account because there are people and groups who I can only find there. For those who don't want to be on Facebook they have other social media platforms too.
Pushing Facebook out at this point is going to be virtually impossible unless somebody thinks of something new that becomes the new killer app. And a politicized platform is not going to get anywhere near the numbers needed to challenge Facebook. To start with a little more than 1/2 the US population won't go anywhere near any Trump project and that number goes up in most other countries.
With the screw ups they've already had in just the first few days, it's obvious that the crew running the site are not exactly elite. Any site with any controversy around it needs the best security available and even then hackers will get through. Companies like Facebook, Twitter, Yahoo, etc. do have the best security available and they have all had some kind of hack.
A highly political social media website associated with one of the most controversial political figures on the planet is going to be drawing in every hacker who isn't solidly in their camp to, at minimum, get bragging rights and probably get any data they can while they're there.
I once knew a guy who had been a Silicon Valley security expert. Last I heard from him he had semi-retired and was doing security consulting after marrying a Canadian and moving there. He was a professional paranoid. It takes a degree of paranoia to be a top security guy in that business. I'm sure Trump's company doesn't have them, good ones are very expensive and he never pays top dollar for anything.
I expect his social media platform will be plagued with technical problems, if it ever gets up and running. Between probably incompetent admins running it and a huge number of hackers gunning for them, they don't stand a chance.
He also thinks he can take on Disney+ and Netflix? The streaming market is over crowded now. I expect several well backed streaming platforms are going to merge in the near future. If they don't outright merge, they will form partnerships to have one login provide content from several sources. AT&T is spinning off Warner and merging with Discovery right now to try and compete. A loan streaming platform might be able to compete if it had some exclusive content people wanted, but it would have to be very high demand content and anything Trump has to offer probably isn't.
The US has become extremely politicized, but the actual people who care is really fairly small. The US has something like 330 million people, but the political news channels get less than 5 million viewers a day (left and right). I was looking at a site that looked at media bias and the bulk of online news consumers read the most politically neutral sites. The number of views the more partisan news sites get is a tiny fraction (less than 10%) of the traffic the neutral sites get. There is a lot of noise about political news, but the consumer base is small and any new source is going to just be pirating audience from another similar source.
I don't expect this company to go anywhere. But as a short term meme stock, there is money to be made with the right timing. Meme stocks take a different mind set than long range stocks. To make money in meme stocks, you need to read the mood of the herd and time your moves right. It's more like playing poker than stock analysis.
JRP3
Hyperactive Member
Building functional technology is different than playing on emotions.
Similar threads
- Article
