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Started By
Message
DJT is the most expensive stock on the market to short - up to 900% annually
Posted on 4/3/24 at 10:46 pm
Posted on 4/3/24 at 10:46 pm
CNBC
Holy shite
quote:
You need a lot of cash — and guts — to short Trump Media stock right now.
Trump Media, which began being publicly traded last week, is now far and away the most expensive U.S. stock to sell short, according to S3 Partners, a leading financial data marketplace platform.
quote:
But plenty of people are still willing to pay those steep costs, based on their belief that Trump Media’s share price is bound to fall dramatically from its Wednesday closing of $48.81. Investors who wanted to borrow Trump Media shares to sell them short on Wednesday would have had to pay annual financing costs of between 750% and 900% of the price of the stock, said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
That means a short seller of the DJT ticker who took a position Wednesday would have had to pay costs of between about $1 and $1.22 per day to the lenders.
To break even on a new trade after one month, a short seller would have to see the share price of Trump Media drop by more than $30.
Holy shite
quote:
But getting shares to borrow to sell short is increasingly difficult. Out of about 5 million shares of Trump Media available to short, 4.94 million have been already borrowed, which drives up the financing costs.
This post was edited on 4/4/24 at 12:26 am
Posted on 4/3/24 at 11:14 pm to slackster
Never bet against the Orange Man
Posted on 4/4/24 at 5:06 am to slackster
quote:
would have had to pay costs of between about $1 and $1.22 per day to the lenders.
These "lenders" are the ones who are making the real consistent bank when it comes to politically related emotion driven stock activities. It would be interesting to know who owns the shares that they are using.
Posted on 4/4/24 at 7:44 am to slackster
Another example of why people who say just "short it" don't understand.
The best play for these meme/fomo types of securities are to just sit on the sidelines. A new one will replace it shortly after this crashes and burns
The best play for these meme/fomo types of securities are to just sit on the sidelines. A new one will replace it shortly after this crashes and burns
Posted on 4/4/24 at 9:04 am to slackster
They talked about this on the All In podcast and how shorting this stock is for lunatics. The people who are going to buy and hold aren't doing it for money, they're doing it with a passion as intense as the WallStreetBets apes with GME.
Yes it's wildly overvalued but anyone trying to short is going to pay out the arse and the Trump crowd would gladly hold on to a goofy stock to see that happen.
Yes it's wildly overvalued but anyone trying to short is going to pay out the arse and the Trump crowd would gladly hold on to a goofy stock to see that happen.
Posted on 4/4/24 at 9:14 am to slackster
quote:
But getting shares to borrow to sell short is increasingly difficult. Out of about 5 million shares of Trump Media available to short, 4.94 million have been already borrowed, which drives up the financing costs.
This tells me that it's not investing dollars, it's activism...
Posted on 4/4/24 at 9:41 am to slackster
https://markets.businessinsider.com/news/stocks/… Trump Will Be World's 7th Richest Person, Says Peter Schiff, If MAGA Investors Push Newly-Listed DJT Stock To $2K
quote:
Renowned economist Peter Schiff has made a bold prediction about the potential rise of Trump Media & Technology Group (NASDAQ:DJT) stock and its impact on former President Donald Trump‘s net worth. What Happened: Schiff, in a post on X, formerly Twitter, on Wednesday, wrote, “If MAGA investors push $DJT to $2k per share, Trump will be the 7th richest person in the world, just ahead of Bill Gates.
This post was edited on 4/4/24 at 9:45 am
Posted on 4/4/24 at 10:16 am to slackster
In all manners Trump related, there is no sense that can be made of it.
Posted on 4/4/24 at 10:18 am to slackster
Dealers learned their lesson since GME AMC CAR and DWAC prior gamma squeeze.
Posted on 4/15/24 at 8:38 am to slackster
This may have still been worth it though. Damn.
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