Time for another check on the price of DJT, the stock of Trump Media & Technology Group, which was priced at $23.60 on May 27. And now?
This monthly chart[1] shows DJT is currently in decline. Since my last casual note, my calculator shows DJT’s dropped 24.4%. Is this disaster?
No, not in my experience. I have observed, and in a few instances, owned stocks that have dropped that much and more, and then recovered. All it takes is patience; the bold investor might even buy more.
But there are no guarantees, folks. DJT could drop 20% tomorrow. In a month, it might go under the waves, never to be seen again. Or it could jump 20%.
Thank goodness I’m not a financial advisor, and readers shouldn’t take this as anything more than an old investor’s observations of a certainly unusual company, a company with a social media product that reportedly doesn’t do well, an American President as its chief draw, and a cryptocurrency on offer.
Speaking of, how’s that doing?
From Day Zero to today, it appears to have dropped quite a ways. Investors who’ve bought $TRUMP coins are experiencing an unexpected depletion of their core wealth, I’d say, which is rather in line with everything Donald J. Trump touches.
But I do recall Professor Richardson of Letters From An American commenting that $TRUMP experienced a big drop during the week of feud between President Trump and Elon Musk[2]. Such feuds are not uncommon in politics, but inexperienced folks often assume that allies are forever and bonded at a deep level, when the reality is that it’s often an alliance of convenience, and breaks up as goals are accomplished, personalities clash over tactics – or someone decides their slice of the pie isn’t big enough. Consider the fate of former leading Communist revolutionary and Stalin ally Leon Trotsky, exiled and assassinated.
I have to wonder if investors are awakening to the facts of DJT.
And President Trump’s bombing of Iran? I don’t expect that to affect the price of DJT. But we shall see.
1 It also appears to be exhibiting a bug in that the After Hours display replicates the daily trading information of a 3.98% decline, yet the price hasn’t changed.
