Trump’s (DJT) up 48% Today

March 26, 2024

Our only thought is it would be a great idea, to give some of the stock to E Jean Carroll for her lawsuit win.

Tuesday’s opening price of nearly $78, stake was worth nearly $6 billion, although lock-up restrictions likely prevent Trump from selling or even borrowing against those shares anytime soon.

DJT\DWAC is the most shorted SPAC in the U.S. with $168.6 million of short interest, 3.37 million shares shorted and 11.69% SI % Float. Shorting DJT/DWAC has not been a profitable trade in 2024 with short sellers down -$158 million in year-to-date mark-to-market losses, -152% for the year. Shorts are down -$93 million in March month-to-date mark-to-market losses, a -73% return for the month.

But, at these high stock price levels, which have hit year-to-date highs, we will probably see new short sellers try and jump into this trade hoping for a short-term pullback back into the $30’s or lower. Shorts that have been squeezed out of this trade will be replaced by new short sellers at what they see as new attractive entry points on the short side.

Read More at S3. Huuuge Short Losses in DJT – DWAC Rally

Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to filings. The company lost $49 million over that span.

The main asset of DJT is the Truth Social platform, which was launched a little more than two years ago, and which has around 5 million users according to research company Similarweb, although reports suggest that the user count has been moving up and down over time and that activity is somewhat uneven.

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