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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's business genius and Trump Media stock
Next time a MAGA cultist talks about Trump being a business genius, point them to a chart showing the price of Trump Media stock.
At its launch in 2021, it closed at over $120 share. By the end of 2022 it was below $20/share. In 2024, for no particular reason, it got pumped back up to around $60/share. But since then, it has continued to look like the terrible investment it was -- it has struggled to stay above $10/share this year and currently is barely above $9
The only thing that stock is good for is harvesting capital losses as a tax offset, and while that probably works out well for Trump's billionaire buddies, most of the MAGAs that spent $$ for the stock probably don't have any gains to offset.
So much winning.
bif
(27,297 posts)niyad
(134,328 posts)campaign tell me that all the bankruptcies showed what a brilliant businessman he was. I said, well, if you mean he screwed all the investors out of their money, and didn't lose a dime of his own, I guess you could say that. Others say he is a vicious, thieving, lying, predatory scumbag. Remind me to keep my eye on my purse whenever you are around. (He was, at the time, married to the daughter of a friend of mine, so I encountered him on occasion. The daughter divorced him several months later.)
PCIntern
(28,642 posts)I remember in the early 1980s all these rich people who were patient of mine used to say that unless you had been through bankruptcy, you werent considered a success.
Whatever
niyad
(134,328 posts)such statements. . .ohh soooooo tempting!!!
TommieMommy
(3,130 posts)Wuddles440
(2,140 posts)except for him, family members, and a few cronies.
tanyev
(49,776 posts)But that doesnt take genius, just complete shamelessness and entitlement.
malaise
(298,398 posts)ror visibility
modrepub
(4,212 posts)Bankruptcy is a major financial trauma. Stock performance like this gets board members fired. But not the super rich or well connected.
I believe or country would function a hell of a lot better if normal rules applied evenly across society. Imagine what our healthcare system would be like if Congress critters and Healthcare CEOs had to wade through doctor visits like the rest of us stiffs. Its called skin in the game.