Reading the DJT tea leaves: A salutary behavior for would-be investors from last Friday.
Source: CoinMarketCap
A more than 7.5% drop over 24 hours in a cryptocurrency would worry me if I owned it, because currencies should only move like that when underlying conditions are changing drastically. The $TRUMP coin is nothing more than a way to demonstrate loyalty through ownership, if that’s what it is, of meaningless computer tokens. The specialization of $TRUMP is to scrape wealth from the wallets of average Joes.
A 7% drop indicates something is happening out there, and it’s not advantageous for the average investor. As $TRUMP is held by a DJT “affiliate”, it may also impact the price of shares of DJT. What’s happening there?
A 1-month chart of DJT from yahoo! finance.
A 15% drop in the valuation of a company as dubious as Trump Media & Technology Group Corp has to be concerning to a shareholder.
I expect this is another step in the self-destruction of the Trump Organization, as its fanatic concentration on the gathering of wealth results in surprising vulnerabilities for the Trumps and their many associates, both personal and corporate. Much like Lehman Brothers, they do not concentrate on service to others at a fair price, but on running their ship through the iceberg field at maximum speed and proclaiming it proves their wisdom and veracity in doing so.
Right before the glug-glug.
