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A little schadenfreude (epicaricacy) to indulge in if you like
DJT, the stock for Trump Media Group, dropped 23 % on Thursday and in after-hours trading dropped a further 7 1/2 % for a total of a 29 % drop (you can't add percentages).
Nearly 30% in one day shows just how worthless the stock is. The only value is cash on hand, about $300 million, which makes it worth about $1.40.
The rest of the inflated value is "brand". But without R&D expenditures or marketing (little or none of both) there is no real opportunity to turn {un}Truth Social into a viable company. Further it faces competition from tRump favourite Musk in the form of eXTwitter and the big streaming services like YouTube, Disney, NetFlix, and others. (DJT has said it will bring out a streaming service.)