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Truth Social Episode...who cares

Now we know.  Before the bell this morning, Trump's Truth Social Network unveiled a plan to offer video or programming online with "Christian" and other themes.  I presume anything ultra right-wing...  We now know on what the company has been spending all its free cash (+$100 million in the first quarter of 2024).   The stock had been going up all week (+$3.00).  

The stock is down to near its lowest level since the company went public last year.  The lock-up period is not over yet (contrary to what I wrote before) and the Q2 numbers are now rather late, as the quarter ended June 30th and we are now in early August (they should be out any day now for those who care).  

Whatever the performance of the second quarter is, the sales pitch will be about the new media business rather than the business that was acquired.  Honestly, since the big boys that spent billions are having a hard time its hard to see how this will fare better, but at least we know what Trump is up to.  It makes sense, Trump had long ago said (2015) that he wanted to start a media company.   

You get bet the Fox and Newsmax are very pleased about this...

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