Former President Donald Trump's social media company has fluctuated in value and has meant some skeptics are coming out richer than before.
keying in on metrics that don’t add up on DJT, the stock ticker for Truth Social, many have decided to short the stock in a ploy to stuff their pockets with cash.places profits from short-sellers at about $200 million, not including the upfront premiums, which have been large due to the stock’s perceived overvaluation.have bought “put” options, which are designed to pay out if investors can predict the price of a stock correctly.
Bettors gambling on the DJT stock are pointing to its continual fall since it reported a revenue of only $4.1 million on April 1 and a potential influx of new stock that will boost Trump’s net worth but devalue the stock. “He’s not as great a businessman as he thinks,” Stange said. “A lot of his businesses go belly up, quickly.”
Trump Media CEO Devin Nunes recently raised alarms that “naked” puts, puts in which investors don’t actually have a share in the company, have been deployed illegally, though it is a legal practice, according to the Securities and Exchange Commission.
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