Once worth over $60 per share, Trump Media opened trading this week at under $14. It may just be that investors are sensing a change in the wind
Trump Media is an odd beast, being neither a value nor a growth stock. With almost no revenue and debts that exceed its assets, its liquidation would leave investors with nothing. Yet its growth prospects look little better.Of all the means available for pundits to try to predict the U.S. election – polling trends, rally sizes, betting markets, forecast models – one of the most intriguing may lie in a quirky corner of the market: the share price of, the company behind Truth Social.
Growth stocks, on the other hand, are not backed up by assets or revenues sufficient to cover the value of outstanding shares, but which analysts believe have positive growth prospects. Amazon spent years losing money, but investors kept pouring in cash believing – rightly – that it would eventually become so lucrative they’d make back their losses.is an odd beast, being neither a value nor a growth stock.
American presidents can monetize their political careers but as a rule, they do it in their postpresidency – Bill Clinton made himself a comfortable retirement by cashing in the favours he accumulated in office. What makes Mr. Trump unusual, though, is that he was already a wealthy businessman when he became president, and thus his political position boosted his companies’ values while in office.
So the recent performance of his company’s share price may be a worrying omen for him. After that initial spring surge, Trump Media’s share price bumped around in a range between US$25 and US$50, and was up around US$40 on the eve of Joe Biden’s withdrawal from the election. Since then, its value has trended relentlessly downward, closely tracking Kamala Harris’s steady rise in the polls. This week, it opened trading at less than US$14.
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