It’s been less than a month since my last commentary on DJT, the stock symbol for the company Trump Media & Technology Group Corp., and, if you hold this stock in your portfolio, it doesn’t look good. In those last three weeks, roughly, it’s been an 18% slide in value.
Source: finance.yahoo.com.
This one month chart illustrates the problem for those who appreciate graphs, showing that going back a week or so from previous commentary makes the problem even worse – down 23%.
This suggests investors’ confidence in an offering of a social media platform featuring a President who, in my opinion, has earned the moniker The Mendacity Machine, a cryptocurrency treasury, supporting access to prediction markets, aka betting pools on just about anything you like, the offering of $TRUMP, and a few other things is eroding. It may have to do with the occupants of the C-suites, or doubts about crypto’s long term viability, or the President’s long-term drawing power as the star of a social media platform reportedly struggling. Talk to your favorite investors and you may get as many opinions as you have such friends.
This is in the context of a market that is setting new records, although I will also state that I think we’re seeing the type of frothy market characteristic of a situation in which there are many unfamiliar factors. The government is painfully, even dangerously, incompetent, run by oddballs who’ve clung to opinions far outside that of the mainstream for decades, and by God, now that they’re in power, they’re going to afflict us with those opinions; they’ll frantically deny they have anything to do with the negative consequences that occur.
Just like their role model, Mr Trump. Think of the troubling labor statistics that accompanied his occupancy of the Oval Office, statistics which the President cut off by firing – perhaps illegally – the lead of the Bureau of Labor Statistics. Notably, his nomination to replace said leader was withdrawn as the Senate signaled it would not approve him amidst general criticism of and laughter at him, him being E. J. Antoni. I’ve not heard of a new nominee, as Mr Trump practices the old art of obscuring the unpleasant while his spokesperson trumpets his transparency, over and over again.
That must make formerly confident investors nervous enough to withdraw investments from Trump. I differentiate investors, people who separate emotion from investing, from MAGA investors, investors from President Trump’s electoral base, who follow emotion in their investing and have bought DJT. I think the MAGA investors are in for an unpleasant surprise.
I see the market as the Pied Piper these days, attracting money that may never return. But I’m no expert, I’m just an investor who’s feeling suspicious about markets in a nation featuring an absolutely untrustworthy President who may be guided by a morality system based on wishful thinking.
