It’s been nearly three weeks since I last looked at Trump Media & Technology Group (DJT), and, just comparing prices it seems things haven’t changed, it’s worth noting that, according to the chart, most of that time was actually spent down. Here’s the one month chart.
What of their “crpytocurrency treasury?” I do not know if they’ve actually sold Bitcoin out of their treasury, but, if so, their timing may have been unfortunate, as Bitcoin investors continue to exhibit cautious optimism, paying a price of $84K/coin to $85K/coin. Three weeks ago it wasn’t quite $80/coin; prior to that, it was puttering about the $62K/coin mark.
And the virtual emblem of DJT, $TRUMP? Investors, or manipulators, are struggling to keep $TRUMP’s price up, but early buyers of $TRUMP – I cannot bring myself to write investors in this context – continue to be way, way down, even if it’s true that maybe a month or so ago $TRUMP was at only $1.40/coin. Real investors are well aware memecoins like $TRUMP are nothing more than novelties with little intrinsic reason to own them; they are badges of pride for the loyal.
There’s no apparent news for the company, at least to my lazy self, but this company is dependent on the fortunes of President Trump, and those are not promising. Most political pundits are expecting the Republican Party to take the blame for economic and foreign relations failures from voters, a sentiment shared by the President himself, apparently.
The White House has launched another taxpayer-funded television ad before the midterms, this time featuring imagery of President Donald Trump walking down a hall as audio plays of him saying “this is the final battle.”
“We will cast out the communists, Marxists, and fascists. We will throw off the sick political class that hates our country. We will rout the fake news media, and we will liberate America from these villains once and for all,” Trump says in the ad, echoing comments he made during a Veterans Day speech in 2023. [CNN/Politics]
In an environment in which all the polls regarding the President, and most of elected members of Congress, are coming back negative, and a President whose greatest successes were a television show and known to love drama, these doomsday ads suggest he realizes he’ll be losing control of Congress in January. This drama/ad is a last cry for help from the divine.
I expect the media will have tiz-fit over it for a couple of days, and then they’ll move on as the imminent elections come to the fore once again.
But it doesn’t bode well for DJT prices.
