DWAC - All Cults End Badly
What do they say about Jim Jones and the kool-aid? I'm not talking about the rapper either. I'm talking about the Jim Jones who shot himself in the head after poisoning his entire following with a concoction of lies.
We are about to see something similar on this overbought, nearly worthless stock.
As Dan Primack of Axios wrote yesterday, "Trump's Truth Social bomb". This rollout has been a disaster. Most people are still on the waiting list to join. Trump has barely posted. The app is full of bugs. It's stopped to 37th on the Apple Store as of yesterday. Primack wrote, "Trump hasn't posted a single time since the launch, despite an international crisis that has captivated the country. Instead, he's given his comments to radio and TV hosts — including one this morning with Dominion conspiracy theorist Maria Bartiromo — plus via his CPAC speech".
Doesn't bode well when the entire reason for making the platform is to follow Donald Trump.
Also- what is the plan here? According to Seeking Alpha, "At a current market cap of over $15 billion as a pre-revenue company". They go on to add, "Thirty days post-merger, this total is expected to increase to over 170 million shares, excluding warrants."
So we have a failed rollout with bugs, Trump barely posting, and share dilution coming to boot. I haven't even mentioned the biggest wildcard.
Trump's legal woes.
Last night, news broke that Trump could be facing criminal charges if the Attorney General wishes to proceed: "Jan. 6 Committee Lays Out Potential Criminal Charges Against Trump
In a court filing, the panel said there was enough evidence to suggest that the former president might have engaged in a criminal conspiracy as he fought to remain in office."
So 1. Dilution 2. Sell the News with Planned Q1 Merger 3. Failed and Buggy Rollout 4. Potential Criminal Charges.
This is a short that would impress Michael Burry. Don't drink the kool-aid.
We are about to see something similar on this overbought, nearly worthless stock.
As Dan Primack of Axios wrote yesterday, "Trump's Truth Social bomb". This rollout has been a disaster. Most people are still on the waiting list to join. Trump has barely posted. The app is full of bugs. It's stopped to 37th on the Apple Store as of yesterday. Primack wrote, "Trump hasn't posted a single time since the launch, despite an international crisis that has captivated the country. Instead, he's given his comments to radio and TV hosts — including one this morning with Dominion conspiracy theorist Maria Bartiromo — plus via his CPAC speech".
Doesn't bode well when the entire reason for making the platform is to follow Donald Trump.
Also- what is the plan here? According to Seeking Alpha, "At a current market cap of over $15 billion as a pre-revenue company". They go on to add, "Thirty days post-merger, this total is expected to increase to over 170 million shares, excluding warrants."
So we have a failed rollout with bugs, Trump barely posting, and share dilution coming to boot. I haven't even mentioned the biggest wildcard.
Trump's legal woes.
Last night, news broke that Trump could be facing criminal charges if the Attorney General wishes to proceed: "Jan. 6 Committee Lays Out Potential Criminal Charges Against Trump
In a court filing, the panel said there was enough evidence to suggest that the former president might have engaged in a criminal conspiracy as he fought to remain in office."
So 1. Dilution 2. Sell the News with Planned Q1 Merger 3. Failed and Buggy Rollout 4. Potential Criminal Charges.
This is a short that would impress Michael Burry. Don't drink the kool-aid.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.