Truth Social just gets scammier and scammier

Yesterday Truth Social had 136 million shares outstanding at a closing price of $32.57. Today, after Trump met the terms for a payout of 36 million new shares, they effectively have 172 million shares outstanding at a closing price of $35.67.

So in one day, in which nothing happened, the paper value of the company went from $4.4 billion to $6.1 billion. That’s an increase of nearly 40% in an already valueless company for no reason whatsoever.”>Yesterday Truth Social had 136 million shares outstanding at a closing price of $32.57. Today, after Trump met the terms for a payout of 36 million new shares, they effectively have 172 million shares outstanding at a closing price of $35.67.

So in one day, in which nothing happened, the paper value of the company went from $4.4 billion to $6.1 billion. That’s an increase of nearly 40% in an already valueless company for no reason whatsoever.

Back to being what it was worth just a few weeks ago. Only a few people in the world have the wealth to keep this propped up. I expect they will want Trump to pay them back if he becomes President.