The share price of $DJT, the meme stock for the brand behind convicted felon former President Trump’s failed Twitter clone that he doesn’t even need any more since Elon Musk pardoned him from a life sentence in the birdcage, is down fully 80 percent from its April post-IPO high of $79.38 as of Thursday, now trading at $15.70 which, while not the record low of $14.32 yet, is damn close to it.
What’s noteworthy about the current price is – besides the fact that Dow Jones futures are now at a record high of 42,377, so the actual stock market itself isn’t the problem – that it comes on the day the fat bastard’s “lockup” agreement expires and he can begin selling the shares, per CNBC. The share price got a brief bump on Friday when Donald claimed he had “absolutely no intention of selling” any of his 57 percent stake in the company when the lockup’s expiry came, but since not even his fanboys who bought up the shares actually trust him, the value continued falling.
Our best guess is that Trump does ultimately end up honoring the pledge not to sell – at least until the election. He himself did the most to tank the price by tweeting again starting last month – even if @realDonaldTrump on Twitter appears to be mostly, if not entirely, operated by his campaign staff and the direct reposts of his Truth Social posts are few and far between – which itself appeared to be a desperation move to somehow regain attention amid Vice President Kamala Harris’s surging poll numbers. He burned his investors for a nebulous political gain and the value of their stock depends entirely on whether or not he can return to power… Then again he’s already fucked them over this much so why not just cash out what he can and leave them high and dry?