[U] Surprising… No One: Stock Symbol “DJT” Is Down ~42% — In Just Six Trading Days. Hilarious.

Updated 04.03.24: Now…

DJT’s new audit firm just amended the 10-K to express substantial doubt about its surviving as a going concern, two days after the first 10-K was filed:

“…Substantial Doubt about the Company’s Ability to Continue as a Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, it is uncertain that the Company will consummate a business merger in the allotted time. If a business merger is not consummate but the specified date, there will be a mandatory liquidation and subsequent dissolution of the Company. Additionally, the Company has incurred and expects to incur significant cost in pursuit of its acquisition plans. These factors raise a substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty…”

Not a good look.

Cheers — this stock should be trading at… ~$2/share.

Out. End updated portion.

Last week we offered the reasoned, financial metrics based opinion, that this stock is worth about $2/share, if fairly valued for its potential to ever generate positive cash flow, or GAAP EPS.

Many of the MAGAt crowd have said they view buying it as a “campaign contribution”. The problem is… none of this goes to his campaign — and the savvy sellers are routing the ill-informed buyers, now. The stock is down almost 42 percent in just a handful of NASDAQ trading sessions. This means Tangerine has seen about $1 billion evaporate, of his supposed $4.1 billion stake — in the money loser.

And rest assured — this wretched pile of financial mismanagement… has much further to fall.

Hilarious — with a pure “cronies board” (including the fail-son, as well!) to boot — don’t expect that they will right the ship.

[I doubt any of them even know what to do — that’s assuming he’s willing to let them have the freedom to do something sensible, for the stock.]

In sum, he couldn’t make me happier, if he tried. See ‘ya at $2, boys.

नमस्ते