I had to write this, my third commentary on Trump's media company, with revenues of $4.1 million and net losses of $59 million. Nothing original, a basic carbon copy of X. Bottom line it's Trump's personal soapbox, and little more. Famously Barry Diller said that DJT was a scam for idiots. The stock peaked on opening day at $71, it's at $36 now.
Let's be clear that is still an outrageous valuation for a company that not only appears to be losing members but has revenues of $4.1 million and a valuation of $4.9 billion, it's still probably $4,899 billion too much. The stock has no business being worth even that amount.
I heard that the cost of borrowing the stock is about $28 for the year, that's the cost of borrowing the stock. That means that the stock would have to fall by 1.4% per day to cover just the borrowing cost. Very expensive.
Note: The cost of shorting DJT stock means there is virtually no short interest, it's too expensive. Traders (mostly hedge funds) will borrow a stock for a week or a month, but not beyond that. So the one claim Trump cannot make is that its speculators that are shorting the stock....
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