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In reply to the discussion: Trump's social media company soars nearly 50% in its first day of trading on Nasdaq [View all]Bernardo de La Paz
(49,060 posts)12. Market watch says 135 M shares outstanding and 3.7 million are shorted
The 135 seems too high because that would indicate a market cap of $9.5 billion but they also say market capitalization is $6.8 billion.
Yahoo Finance (Reuters) has it more in line with my calculation (emphasis added):
At $68.28 per share, the company's market capitalization was $9.25 billion on an undiluted basis. Trading in the shares under the new ticker "DJT" was briefly halted just after the opening bell due to volatility.
Donald Trump's majority stake in TMTG was last valued at $5.38 billion, although lock-up restrictions for six months could prevent him from selling or borrowing against his shareholding.
"The valuation of the business is rich relative to its underlying fundamentals, but I would not get in front of it in the near term," said Thomas Hayes, chairman of Great Hill Capital.
"This valuation may be more of a proxy on the enthusiasm of supporters for Trump than a reasonable estimate of underlying business prospects."
Donald Trump's majority stake in TMTG was last valued at $5.38 billion, although lock-up restrictions for six months could prevent him from selling or borrowing against his shareholding.
"The valuation of the business is rich relative to its underlying fundamentals, but I would not get in front of it in the near term," said Thomas Hayes, chairman of Great Hill Capital.
"This valuation may be more of a proxy on the enthusiasm of supporters for Trump than a reasonable estimate of underlying business prospects."
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Trump's social media company soars nearly 50% in its first day of trading on Nasdaq [View all]
ificandream
Mar 26
OP
On paper. Lots of time for it to drop to reflect fundamentals before he can access it 6 months plus down the road. nt
Bernardo de La Paz
Mar 26
#13
But media sells by sensational headlines, where fact don't matter. . . . nt
Bernardo de La Paz
Mar 26
#28
I've read a little more on the lockup agreement and it also prohibits selling options. If that were not the case, Musk,
24601
Mar 27
#39
Market watch says 135 M shares outstanding and 3.7 million are shorted
Bernardo de La Paz
Mar 26
#12
Not legal. Deutsche Bank paid about $640 million dollar fine 2017 for its role in stock trades that laundered. . . .nt
Bernardo de La Paz
Mar 26
#18
I suspect brokers are snatching up shares now to sell to suckers before the price plunges.
Martin68
Mar 26
#7
Are you suggesting there are no stock brokers left? If not, why did you assume I'm unaware that stocks can be purchased
Martin68
Mar 27
#36
This is not a good look for the stock market, when a worthless company can be worth so much.
Mr. Sparkle
Mar 26
#15