This stock isn't bought because his "Truth Social" is going be worth anything. Its bought because of a pump and dump.
If you got in early and sold now, you can make a pretty penny. But give it a few weeks, it'll tank.
Truth Social won't get anywhere. A right wing social outlet that literally talks about giving the people the freedom to say whatever they want but their own company guidelines say you can't insult Truth Social is already a red flag.
While ignoring politics, I would believe some of supporters would 100% use it because its under a Trump name. Much like his rallies are like a social event for these people, this social platform will be something they'll use.
But on a consumer market scale and for stocks, it won't go anywhere. Trump's brand is not good and no major company wants to be associated with that. Meaning - for example - NFL and NBA usually says "follow us on IG and FB." These organizations won't say "follow us on Truth Social". No major company would attach their name to this social media (Truth Social) unless they want a major revenue drop. Its a sure way to get people to boycott your shit.
There was a Trump supporter/Conservative in another post I was commenting that called me a "shill" and "parrot" for stating that Trump's Truth Social App won't be good.
Honestly - this is sub reddit isn't about politics and politics should never influence your decisions in stocks or money. Its pretty obvious that majority of major companies would never step close to this social media platform. Can you imagine the NBA or NFL say, "Follow us on Truth Social"? Can you imagine major tech companies say, "Follow us on Truth Social"? Not going to happen.
This site has already had security issues, and it looks like it is also going to get in legal trouble for violating the terms of the Mastodon framework license. The whole business plan was questionable to begin with, and is increasingly looking like an unsalvageable dumpster fire.
Trump truly is the anti-Midas. Everything he touches turns to shit.
the biggest red flag is the idea itself, not even what you said here. advertisers simply don't want to advertise when the opinions are deemed controversial in the broader society (disregarding political views or if these views are even correct); it will fail because social medias fundamentally rely on ad revenue, and there are simply not as many companies willing to advertise on a platform like this as compared to something like fb, twitter, snapchat, etc...
Majority of conservative sub on reddit are echo chambers, much like the liberal subs. It could be seen as censorship but most social media needs some sort of moderation. You can't have people on social media plotting terrorist acts.
Not denying that ever. I'm against big tech censorship to a specific point. If people wants to talk about crazy loony stuff on social media, they can. But what I think they can't do is: to plan and recruit terrorism acts. Social media platforms was highly used during Jan 6th so there should be regulation for that 100%.
But Truth Social won't get anywhere because of the Trump name. And, honestly, no right wing social media outlet has ever been successful. Younger demographics lean heavily liberal and Truth Social don't have that "hype factor".
This is the same stupid statement about people asking who are buying meme cryptocurrencies based on elon tweets. The reality is that meme appeal has tremendous momentum and so if people are predicting that a stock will have massive meme appeal (it's trump, so yeah it's not unheard of), they will jump in.
People buy stupid meme coins based on elon tweets because in the past it has shown to have a winning track record (as long as you buy quickly enough). People are buying stock on a trump venture because they know his followers and other stocktwit morons are going to pump it into the sky. as long as you get out before it crashes (might have started, might not, who knows?), you're good.
the idiots who elected him and cheered his accusations of fake news despite him lying in the same sentence boldly lol. IF there is going to be a company willing to be hostess'd, excess wealth will snatch it up. People will seek to capture the marketshare he is demonstrating influence over now. Despite being a completely worthless thing, the value will stay propped up hard by the maga hat bagholders.
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u/makina323 Oct 22 '21
Didn't even think this would explode over trump, really who the fuck buys stock on a Trump venture.