The Biden-Harris campaign attempted to nickname Trump the “Broke Don” after the NY courts attempted to extort his fortune. They will need a new term as Trump is now a wealthier man than he was before the case. Trump unleashed a media stock ($DJT) on the Nasdaq that spiked 50% from its IPO on the first day of trading. He owns a 58% stake in the company.
Obviously, Trump Media & Technology Group Corp. will be an extremely volatile stock. Its creation aims to gauge the public perception of Donald Trump as a commodity, and a call option on the entire MAGA political strategy. Moreover, Trump can use his stake holdings to secure a loan, although he said he would be paying his reduced bond in cash. He would need to wait at least six months before selling.
This is certainly a unique political strategy that is raising brows on both sides. Trump is a capitalist at his core. He will slap his name on any product or company and sell it, be it sneakers, wine, meat, or even Bibles. Say what you want, but he manages to come out on top after every attack and finds a way to turn a crisis into a profit. He is now listed as one of the top 500 billionaires on the Forbes list.
Now, this could certainly backfire for Trump. Some investors see it as a means of supporting the MAGA movement and are not using it as a real long-term investment. They want to support the cause and are not deeply invested. Still, there are those who do not truly understand the purpose of $DJT and could lose out, which would lead to extreme backlash from his supporters. Companies are often delisted from exchanges, and I am sure people are already looking at ways to remove this listing. Time will tell whether this was a clever or catastrophic move.
