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truth social nothing burger

True social media finally released its quarterly results for the second quarter ending June 30, 2024. The numbers were more or less in line with the revenues and losses of the previous quarter with total revenue of less than $1 million and total loss of about $16 million again, it only reflects the fact that revenues from advertising is dropping from the same period last year mainly because the revenues split had been modified after the IPO not, situation to make the company appear better before it is sold to investors. 

this all means nothing because it’s clear that true social as a platform like Twitter is not an effective tool. The company has already indicated that they wanna move into media business and that’s why they spend an awful lot of money in the first quarter for that objective in mind, maybe they will be successful in that endeavour but right now the revenues are not there and the profits are certainly not there. The stock is doing any stock with no revenues and massive losses. Do they keep on falling there has been no guidance provided by the company in terms of how things are when things will improve, which is somewhat unusual these these days but  I suspect that too much of their future earnings are based on things that they haven’t really announced yet it’s clear when this additional information will be made available but right now we have the information we have 

bottom line with these kind of results share price is still substantially too high at around $24 a share effectively. The company has about $344 million in cash and the share price should largely reflect the value of the cash at hand means that price would still have to go down about 95% to reflect that valuation $24 a share the company still worth around $4 billion which is very high. 

Overall, the reflection of political movement and desire to invest in Trump’s future rather than a real valuation for the company, which is currently run by politicians (old friends and colleagues of Donald Trump.)

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