General Discussion
In reply to the discussion: BREAKING NEWS: Republican economists deem national economy "a disaster" after collapse of Truth Social stock [View all]Kablooie
(18,672 posts)why the Truth Social stock was way overpriced and a collapse was inevitable.
Matthew Goldstein
OK, so if we go pure fundamentals, its crazy. This company is not a $7 or $8 billion company. It had $3.3 million in revenues for the first nine months of last year. It lost about $49 million.
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Matthew Goldstein
Its fragile, right. Its not sustainable at this level. But when its happening, its hard for me or anyone to give you a rational reason, and thats why theres this old thing, irrational exuberance. Its not necessarily unusual. Its just that its unusual because you have a very loyal investor base to him personally that is driving a lot of these surges in the stock.
https://www.nytimes.com/2024/03/28/podcasts/the-daily/trump-tech.html