Truth Social/ DJT’ stock has all the earmarks of a pump and dump scheme and a stock swindle where the only people who will benefit in the long run will be insiders. Ie: Donald Trump and his cronies.
The financials of Truth Social are horrible. It is losing $5 million plus each quarter on revenue of less than $1 million a quarter.Truth Social is essentially a MAGA message board.
So why are people driving the stock price up? To be able to funnel dark and foreign money to Trump to use in his campaign without having to disclose the source of the investors. Campaign contributions have to be disclosed to the #FEC, but that can be avoided by buying Truth Social stock.
The stock is pumped up and Trump cashes in his shares. The SEC should take a very close look at this Trump pump and dump scheme.
philip_cardella