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It's Complicated

Episode 69 - Pump and Dump? Re-Gagged; and HOA Issues

It's Complicated

Renato Mariotti

News, News Commentary, Politics

4.81K Ratings

🗓️ 5 April 2024

⏱️ 45 minutes

🧾️ Download transcript

Summary

This week: Truth Social hit the NASDAQ and its share price seems untethered from its financials; Trump gets gagged by the judge in the hush money case; plus Asha has an HOA issue.

Transcript

Click on a timestamp to play from that location

0:00.0

M-S-W media.

0:07.0

So Renato, is there something sketchy about this Trump media IPO thing.

0:14.0

It's complicated.

0:17.0

So, Ayesha, this has been quite a week in terms of Donald Trump's net worth.

0:28.0

His net worth absolutely surged because there was an IPO of a company called Trump Media, which is essentially just

0:35.8

like a holding company, Shell Company that holds like truth social.

0:41.6

And it's an odd thing.

0:42.8

It's surged to be worth many billions, several billion dollars, massively inflating

0:49.3

Trump's net worth.

0:51.4

And yet the underlying company is like got three employees, no profits, like 50 something

0:59.0

million in revenues, like it's a very, very small company.

1:03.5

There's probably companies in your hometown

1:06.3

that are significantly larger and aren't selling

1:09.3

for several billion dollars.

1:11.4

And really what it is is Trump has essentially created a

1:14.6

meme stock like how GameStop or Bed Bath and Beyond some of these companies

1:19.0

had these inflated values because a bunch of people on the internet message boards, discord and

1:24.5

Reddit would like, you know, talk each other and bumping up the price.

1:28.5

Essentially that happened here and Trump's followers and his supporters basically pumped up the price as a way of trying to pump up

1:37.0

Trump effectively ballooning his net worth and creating a lot of I I would say, legal complications

1:43.4

that are going to be interesting for us to talk about today.

1:46.6

I mean, it's sort of like a kind of stock market go fund me is what it feels like.

...

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