Trump Media shares halted after sudden DJT stock plunge
Trading in Trump Media shares was briefly halted due to volatility, after the Truth Social owner's stock suddenly plunged in price.
This chart looks like it came straight out of an economics textbook with the caption "An example of a dead cat bounce"
It looks like it because the Y axis doesn't start at zero.
If it went to zero, then yes that would be a textbook example.
When we had to print stuff out it could be defended, but even then I'd like it to start at zero and show a break to jump up.
If being zoomed out to zero means it erases the change being shown, then that matters. Not zeroing the y axis can make anything look crazy.
I dunno, I'm a stats nerd, I'll rant about it every time I see it.
There is nothing about "the dead cat bounce" that requires it to going to zero, only that it be a long term falling pattern with a brief uptick at some point. . . which we're arguably seeing today.
However, the real problem is not so much the Y axis, as this is extremely typical of ticker views, but the X axis, as this is "downward trend" is being viewed over just one day. It hides the fact that the stock is up 50% in in the last month. I doubt Trump is sweating this drop too much.
We're once again seeing how easily manipulated lemmy users are, and how little they actually look into anything themselves, or how quickly the rush to conclusions about things they don't understand.
*hats off
I'll take any informative rants people want to give. Thanks for yours.
It's been on a run over the last month, coming off a $12/share low and screeching towards a $32/share high.
Movement like this is absurd, given the near nonexistent changes in actual business activity around the equity. Either its being pumped and dumped by speculators or used as a back door around campaign finance donations or who even knows what. But the degree to which the SEC is turning a blind eye on this nonsense is one more data point in the "Rich People Play By Different Rules" connect-the-dots game.
But the degree to which the SEC is turning a blind eye on this nonsense is one more data point in the “Rich People Play By Different Rules” connect-the-dots game.
QFT
The amount of things happening around Trump that are "literally textbook" examples of the worst things to do and what not to do is honestly staggering.
I bet Trump sold. He said he wouldn't, so he probably did.
84 million shares had traded hands by 3:18 p.m. — multiple times the company’s 30-day average trading volume
Sure looks like it.
Trump … said he wouldn't, so he probably did.
You could post this comment all day long, every day.
Nah, as much as he has it would have cratered the price, especially because everyone around him would dump immediately.
This is just someone trying to beat it, and trump is likely furious.
If he was cashing out, and he'd have pulled everything at once.
I remember reading there was a period of time where he was legally not allowed to sell his shares. Has that time elapsed?
Yes. That was mid september. The actual "founders" sold within days, but this transaction is about a month later.
He is an officer of the company and the majority stakeholder. He's legally required to file with the SEC. If that has happened it would be huge news on every outlet.
Maybe it was watching their chief asset waving back and forth for 39 straight minutes instead of answering questions.
You’re not wrong, but a part of me can’t help but think some other bombshell is going to drop soon. If someone (or multiple someones) had enough shares to move the price in a way that resulted in a trading halt, in my mind they’re more likely insiders. Assuming that people in his orbit would 100% engage in insider trading, I’m thinking they know something that’s not public information yet.
Ah yes, Trumpers Razor, the most likely correct answer is crime.
I can barely contain my excitement about all the shit about to go down in terms or leaks like his call with Putler. ALL of tea 'bout to be shared
He's about to be grabbed by the Puts' tea
To them, he was just vibin'! To the rest if us, sundowning.
In a years time, will learn that rich billionaires like Elon Musk are propping up this stock. Think of all the speculators playing this stock because it's so volatile.
That's OK with me. Elon losing all his money to bad investments seems like a good thing.
Where's Flying Squid with a Riker?
While we wait: 🧔🏻🎮🍋🎶
Wasn't it just yesterday I saw an article about a sudden huge rise in it's value too?
Pump n dump scammers, baby!
I'm wondering if I'm brave enough to buy puts on this stock. If he loses its sure to crash to near zero, I could be set for life
Congrats, short sellers!!
Stone hands!!!!
