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this post was submitted on 11 Sep 2024
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Yeah, but he has millions of shares he paid nothing for.
He's going to be the only one who doesn't lose money, because he paid nothing for his stock.
Even if it's $0.01 the day he can sell, it's all profit.
Someone has to buy the stock that he sells. It doesn't magically turn into money cause it has a listed value that day.
Sure, there can be some money laundering and foreign "investments" but the SEC really doesn't like stock manipulation.
The SEC doesn't do jack shit about anything. The SEC are toothless pretend watchdogs created by and staffed by former stock marketers who exist for the sole purpose of making the public think there is oversight and accountability.
It is the stock market version of the police's internal affairs.
Tell that to Martha Stewart and Elon Musk.
SEC isn't a savior, but they do enforce the law when it's blatant.
Martha Stewart's case was two decades ago. How many people have served jail time for fraud based on the SEC since then?
Musk got the regular slap on the wrist pretend punishment that the SEC does to appear legitimate. He also continues to openly manipulate stocks with no further accountability.
are you just assuming zero, or do you actually keep up with this stuff?
just a brief search led me to these which were all published literally yesterday:
https://www.reuters.com/legal/government/sec-widens-insider-trading-case-involving-stolen-law-firm-ma-info-2024-09-10/
https://money.usnews.com/investing/news/articles/2024-09-10/convicted-nikola-founder-milton-owes-electric-truck-maker-168-million-judge-rules
https://wchstv.com/news/local/im-teddy-f-miller-boasts-influencer-now-jailed-for-fraud
I don't assume it is zero, but I assume it is far fewer than it should be since Musk has been openly manipulating the market without any punishment for years.
then just say that rather than asking "how many" because apparently no number would be high enough to meet your standard.
I'm sorry I might have hurt the SEC's feelings. Will you ever forgive me?
Good ol' Lemmy maturity.
It'll definitely cause the price to drop and will probably destroy the company's selling so much at once.
But it happens all the time.
And trump supporters are 100% dumb enough to "buy the dip".
HODL the bag
Even worse, they don't have to believe even that.
Some will believe that this is "charity stock" and buy the stock as it spirals to zero as "charity" for their candidate...
They've already bought the dipshit.
The listed value is more or less the amount currently being offered by people who want to buy the stock. So if it has a listed value then he can sell it.
If there's a single copy of a comic book that sells for $1,000 that doesn't mean you can sell 100 of them for that price.
If there's a couple dozen shares of a stock selling for $15, that doesn't mean there's enough buyers to pay for a million of them at that price.
If trump dumps all his shares, the stock price will crash, and eventually there won't be ANYONE to buy the stock and the price will be effectively $0.
Comic books don't have market makers. Stocks generally do.
They act as intermediaries so individual stock buyers don't have to find individual stock sellers. Which means the companies that agree to act as market makers are always willing to buy a stock and always willing to sell it. When buyers and sellers don't balance, they adjust the stock price until they do (always making a slight profit on arbitrage).
Market makers aren't idiots. They're not going to provide liquidity to allow someone to dump thousands of lots of this piece of shit listing on them.
The "adjust the price until they do" part is the piece of your comment that's relevant here.
Sure they will. In fact they provide liquidity for stocks that are equally shitty as this one.
And of course if someone is dumping a lot of stock all at once then they will pay less and less for each unit. But even they are only paying pennies at the end, they won't stop buying it.
If he can sell all his 115M shares for $0.72 (doubtful) he'll have just enough to pay off E. Jean Carroll.
What?
It's at 15.49, I think he can sell a week or two after the election. It'll keep falling, but he has a financial incentive to push it more and more in the run up to the election.
He went back to Twitter for the views, but immediately after the election he'll pivot back to pumping it full time.
Id be surprised if it's under $5. Someone that wants a favor could buy millions of it, hoping that if more do it or the rubes buy in, it would be a bribe that actually made money.
Classic pyramid scheme shit. The more that do it, the more others will because the price goes up.
I'd be surprised if it's less than this by the time trump can sell, and if he loses I think it'll really jump up immediately after the election