Trading in Trump Media shares was briefly halted due to volatility, after the Truth Social owner's stock suddenly plunged in price.
  • some_guy@lemmy.sdf.org
    331·
    2 months ago

    Glad to see this. I’d been watching it go up day by day for more than a week. I was disappointed to see it up again this morning. I hope it crumbles to zero.

  • Illegalmexicant@lemmy.world
    25·
    2 months ago

    Trading halt? The dumb company is up over 100% in less than a month. I can’t imagine why it dropped 10%. Let it tank already.

    • whocares314@lemmy.world
      11·
      2 months ago

      Trading halts are done automatically by the exchanges anytime any stock falls by a certain amount within a certain time frame. It’s meant to interrupt automatic, algorithmic high frequency trading from a runaway out of control feedback loop - think of it like muting the microphone when the speakers start making that high pitched feedback screech. Give it time. If there’s any justice left in the world it will be a penny stock by the new year.

  • zephorah@lemm.ee
    10·
    2 months ago

    I have to wonder if this has anything to do with that bizarre (even for Trump) rally in Pennsylvania.

    • shalafi@lemmy.worldEnglish
      2·
      2 months ago

      That’s my bet. People have, for years, tried to act smart, say, “He’s always been an idiot!” Nah. Below average intelligence? Sure. But he really turned a corner in 2021-22 or so and now the roller coaster is off to the races.

      He’s come with 9,000 stupid, mystifying, illogical, evil even, statements. But yesterday was something I’ve never seen before. You and I would be headed for a rest home if we acted like that. Put that in the bucket with the last 2-years of lunacy, we would be living with a full-time caretaker if we were rich.

      People like us that are watching and politically engaged have been noting the slide, but that performance yesterday was on display for a long time, not merely a sound bite a supporter can weasel around.

      • SoJB@lemmy.mlEnglish
        11·
        2 months ago

        In some ways, you could consider it a small blessing that Trump has been forced to spend the last decade of his life frantically (metaphorically) running from shadow to shadow trying to avoid the law and keep his hold onto fascist power.

        Like, he could have spent the last 30 years relaxing at Maralago paying pornstars for sex but he just couldn’t keep his fucking mouth shut.

  • EndOfLine@lemmy.worldEnglish
    10·
    2 months ago

    The stock price whipsawed during an extremely volatile trading session in which more than 97 million shares traded hands — multiple times the company’s 30-day average trading volume.

    Does Trump have to disclose if he is dumping his shares? That many shares trading hands makes me wonder if he is trying to cash out before the stock starts to tank again.

  • 👍Maximum Derek👍English
    61·
    2 months ago

    If you zoom out just a bit, this drop took it back to where it was at the start of trading yesterday. The stock has been surging since 10/10.