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Last week tonight's John Oliver explained how Truth Social Meme Stock is a reverse GameStop.
After the two Trumpers explained why DJT stock should be abandoned, Oliver said:
You've got to love friends. Although, look, in a way they're right. Truth Social is now basically a meme stock. And its price has risen based on the same principle behind meme stocks like GameStop or AMC. If enough investors buy shares, they can drive up the price, and everyone can somehow get out before the bubble bursts.
But the GameStop movement was, at least nominally, about taking financial power away from the filthy rich and restoring it to the little guys, whereas this movement is about funneling the little guys' money directly to the richest people. *There is a hole. And it's been pushed, just like other meme stocks, through social media posts like this one that say, if you love America, buy DJT now, or this guy reading this, stay calm and buy more DJT. For my personal favorite, this one is the one I think promotes eagle-shaped erections as well as the stock, which is shiny, which makes sense.
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Truth Social is like a penis in which lots of sad men on the internet spend their time lying about how big it is and what it can do for you. Look, who knows where this will go. The value of Truth Social may drop when people realize they have sunk billions of dollars into the social media term potato.
However, if that happens, I'm guessing Trump will already have cashed out, leaving his supporters holding the bag. But it's also possible that Trump becomes president again and remains on the platform as a convenient way for companies and foreign interests to put money in their pockets, which they all need.
But the bottom line is that everything Trump does this year will be a cash grab. This year has brought one of the few opportunities to really do what was asked of him. Pay the price for your actions, but he's already made others pay for it.
Video:
Reality Social is a con. It’s an empty firm that doesn’t produce something and won’t launch information on the variety of customers on the location. All the pieces about Reality Social is a purple flag. Oliver was proper. This most likely includes Trump cashing out money and leaving his supporters broke and holding the bag.
It is a film we've watched many times. Trump walks away and his supporters are left holding the bag and selecting up the items. So long as persons are prepared to guard Trump with their cash, he’ll proceed to spend cash for revenue.
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Jason is the managing editor. He’s additionally a member of the White Home Press Pool and Congressional Correspondent for PoliticsUSA. Jason has a bachelor's diploma in political science. His graduate work targeted on public coverage with a specialization in social reform actions.
Awards and Enterprise Memberships
Member of the Society of Skilled Journalists and the American Political Science Affiliation