The TRUTH about Truth Social
Financial report just released SEC filing: Truth Social lost over $58 million in 2023 while generating only $4.1 million in revenue.
The stock is TANKING!
The stock is TANKING!
61-69, M
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JimboSaturn · 51-55, M
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KunsanVeteran · 61-69, M
@thisguy20 Now we know!
Nanoose · 61-69, M
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KunsanVeteran · 61-69, M
windinhishair · 61-69, M
@KunsanVeteran The stock went down $13.30 today. There are 135 million shares. The stock market capitalization fell today by $1.7955 billion. At $60 per bible, that is the equivalent of 29,925,000 bibles. But that's assuming $60 profit per bible, which obviously isn't the case. If all of the 74 million Cultists who voted for him in 2020 get a bible, each one would have to make $24.26 in profit just to make up for the losses of today.
KunsanVeteran · 61-69, M
@windinhishair To summarize: Quad Indicted’s pump and dump blows up in his [redacted] face!
windinhishair · 61-69, M
@KunsanVeteran Not yet, but let's just say it isn't looking good unless he cheats and commits more crimes.
ElwoodBlues · M
Not only YUGE financial losses; users departing in droves as well!!
The problem for Trump Media is its main product — Truth Social — is shrinking.
Monthly active US users on iOS and Android plunged in February to 494,000, down 51% year-over-year, according to Similarweb. By comparison, X has 75 million monthly active US users. Even Threads has more than 10 times as many users as Truth Social, according to Similarweb.
Monthly active US users on iOS and Android plunged in February to 494,000, down 51% year-over-year, according to Similarweb. By comparison, X has 75 million monthly active US users. Even Threads has more than 10 times as many users as Truth Social, according to Similarweb.
JimboSaturn · 51-55, M
@ElwoodBlues whoa 51% What's the reason I wonder? I didn't think his base will ever shrink. I guess there were some users who weren't hard core cult.
ElwoodBlues · M
@JimboSaturn My guess is Twitter under Musk offers lots more of the kind of reich-wing pablum they want to consume.
KunsanVeteran · 61-69, M
@ElwoodBlues That’s fine—tons of folks are shorting it. For a company with annual revenue of $4.1 million an honest valuation would be $12 million, a generous valuation would be $15 million.
Certainly not billions!
Quad Indicted ruining everything he touches!
Certainly not billions!
Quad Indicted ruining everything he touches!
KunsanVeteran · 61-69, M
The auditor QI used to prepare the SEC filing (B.F. Borgers, CPA) filed a letter with the SEC filing saying that there is “substantial risk” of the company failing due to very high losses for the two years it has existed. 2022 was just as bad (if not worse than) 2023.
Meanwhile, Devin Nunes salary is $750,000 per year to increase to $1,000,000. Kash Patel (yep—the crooked lawyer) is receiving $120,000. And Lee Scavino is receiving a cash bonus of over $2 million (!) and salary on top of that. This from a company that had revenues of only $ 4.1 million in 2023 & over 1 million in 2022.
The letter from accountant Borgers can be found online with the SEC filing.
Investors beware—the company’s own accountant is predicting a quick demise to this pump and dump!
Meanwhile, Devin Nunes salary is $750,000 per year to increase to $1,000,000. Kash Patel (yep—the crooked lawyer) is receiving $120,000. And Lee Scavino is receiving a cash bonus of over $2 million (!) and salary on top of that. This from a company that had revenues of only $ 4.1 million in 2023 & over 1 million in 2022.
The letter from accountant Borgers can be found online with the SEC filing.
Investors beware—the company’s own accountant is predicting a quick demise to this pump and dump!
windinhishair · 61-69, M
KunsanVeteran · 61-69, M
@windinhishair Here’s the thing, QI owns about 70% of the stock—and he’s not allowed to sell any of it for six months.
Devin’s COW calls QI a MOO-Ron!
Devin’s COW calls QI a MOO-Ron!
LordShadowfire · 46-50, M
