Last week’s John Oliver on Tonight explained how Truth Social’s meme stock is a GameStop in reverse.
Oliver said after two Trumpers explained why to buy DJT stock:
You have to love guys. Look, they’re kind of right, though. Truth Social is basically a meme stock now. And its price has risen based on the same principle behind meme stocks like GameStop or AMC. If enough investors bought shares, it could drive the price up and everyone could somehow get out before the bubble bursts.
But the GameStop movement was, at least nominally, about taking financial power away from the shitty rich assholes and giving it back to the little people, while this movement is about funneling the little people’s money directly to the shitty rich people. *hole there is. And it’s been pushed the same way as other meme headlines through social media posts like this one that says, if you love America, buy DJT now, or this one reading, stay calm and buy more DJT, to my favorite, this one that promotes the title along with an eagle-shaped boner that sprays glitter, which makes sense, I guess.
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Truth Social is a bit like a penis in that many sad men on the internet spend their time lying about how big it is and what it can do for you. Look, who knows exactly where this will end up. Truth Social’s value could plummet when people realize they’ve dropped billions of dollars into a potato with the word social media painted on it.
Although, if that were to happen, I imagine Trump will have already cashed out, leaving his supporters holding the bag. But it’s also possible that Trump becomes president again and maintains the platform as a convenient way for corporations and foreign interests to funnel money into his pockets, which everyone knows he needs.
But the bottom line is that this year, more than ever, everything Trump does will be a cash grab. This year brought one of the few times he was actually asked to do so. pay the price of his shares, but he already has other people footing the bill.
Video:
Truth Social is a scam. It is an empty company that produces nothing and does not release data on the number of users who frequent the site. Everything about Truth Social is a red flag. Oliver was right. The case in which this happens will likely involve Trump cashing out, leaving his supporters broke and sitting on their hands.
It’s a movie we’ve seen over and over again. Trump leaves and his idiotic supporters are left holding the bag and picking up the pieces. As long as people are willing to bail out Trump with their own money, he will continue to struggle to make gains.
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Jason is the managing editor. He is also a member of the White House press pool and a congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His graduate work focused on public policy, with a specialization in social reform movements.
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