Legal AF by MeidasTouch - Trump Stock GETS CLOBBERED by GUILTY VERDICT

Episode Date: June 3, 2024

Wall Street can smell a fraud a mile away, and today institutional brokers and dealers hammered Donald Trump’s media company stock price stripping over $500 million away from its value, further depleting his fortune. Michael Popok using his experience as a former lead attorney for a Wall Street firm, breaks it all down for you. Americans United will keep fighting for freedom without favor - equality without exception. Keep up with this issue at https://au.org/legalaf Visit https://meidastouch.com for more! Join us on Patreon: https://patreon.com/legalaf Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Learn more about your ad choices. Visit megaphone.fm/adchoices

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of 34 counts of felonies in New York, but on the first trading day after that, the brokers and traders of Wall Street have spoken, and they are selling Donald Trump short. Literally, they have crushed the stock price for Trump media by 5.3%, a huge drop, meaning his on paper value or net worth in that stock holding, which has been his bailout,

his personal bailout for his dwindling fortunes, dropped by about a half a billion dollars. Now it's all on paper, because Donald Trump can't sell his stake until September. But one thing I learned working on Wall Street for a large Wall Street firm, brokers and traders smell a fraud and smell a loser a mile away.

And we'll start trading in relation to that. And now they're hammering the stock. I mean, that stock generally wildly gyrates the price of it because there's no there there. There's no economics underneath it. There's no reason you would ever invest any of your money. If I came up to you on the street and said, hey, I got a great new stock for you to buy.

They'd say, tell me about the business. Oh, business is great. Listen to these numbers. It lost $340 million against $770,000 worth of revenue. Nobody's going to say, where do I sign up for that? But that is Trump media. It has a dwindling user base, dwindling numbers in the low single digit millions of daily active users, which is almost nothing. And its revenue is down to $778,000 for a three month period against $338 million in loss. So there's no investor in their right mind that's going to put their money into Trump media.

So who invests? His followers, people that wanna get a piece of Donald Trump, people that wanna prop him up, right? Institutional investors that want Donald Trump to owe them something if he ever gets back into office. Major private equity funds that want to get a piece of Donald Trump at a quid pro quo for him to reward them later on in changes in the regulatory environment in their industry.

That's obvious. The other thing propping it up in the stool, two legs of the stool, the other leg is the people that support Donald Trump, right? That follow him through thick and thin. They don't care what he does, don't care that he's a felon. They just keep buying the stock, knowing that there's no fundamental economics underneath it that support that stock price. This company is teetering on the edge of bankruptcy. In fact, this company

based on this balance sheet and this pro forma should be put into bankruptcy. But of course it won't be because people are buying it just enough for Donald Trump to, before today, have a $6 billion on paper net worth to replenish his coffers, which were being quickly liquidated by civil fraud judgments against him, defamation judgments against him, sex abuse judgments against him, totaling over $570 million running with interest.

And all the costs related to that, another $100 million that he spent on attorney's fees. Sure, a lot of it came through his PAC, but some of it came from his personal funds. He needs the money. Now, he can't touch that money in Trump media, Trump social until September. Watch, right before the election, he's going to sell off a billion dollars worth of this stock and it's going to crush the stock price even more. You think losing a half a billion dollars when he got convicted of 34 felony counts matters to him? It doesn't. He's just trying to get to the finish line in September

so he can sell off some of the stake and realize the money. Because as we've said time and time again, if it's not me, it's Ben Micellis right here on the Minus Touch Network, we looked at it from people that have run businesses, run companies, been involved with Wall Street, take companies public, that have run businesses, run companies, been involved with Wall Street, take companies public, that kind of person, that kind of lawyer.

And we're telling you, this is terrible stock to buy and invest in. It's beyond a meme stock. It's a pump and dump scheme. It's a Trump and dump scheme. And steer clear of it. We want to share an important message from our sponsor, Americans United for Separation of Church and State. Oklahoma recently approved the nation's first religious public school.

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recognize the danger and promptly filed a lawsuit to stop St. Isidore of Seville Catholic Virtual School in Oklahoma. AU says that this is the latest effort to blur the lines between church and state. AU believes taking tax money and directing it to a religious school that will indoctrinate students in one particular faith

and plans to discriminate against students, families, and staff who don't adhere to its beliefs goes against the founding principles of our country. Americans United will keep fighting for freedom without favor equality without exception. Keep up with this issue at au.org slash legal AF. That's au.org slash legal AF. And now we have the institutional traders and brokers paying attention finally and saying,

hmm, maybe a company headed by a guy who just got convicted of felonies for fraud, including potentially tax fraud and election fraud, isn't a great bet. And so this won't be the first time I'm going to report or one of us is going to report about the drop in stock price. We've been reporting on it since the very, very beginning. It is artificially propped up now by Donald Trump who tells all of his followers, disregard the financials that I report because I have to through the Securities and Exchange Commission. Just listen to me. It's a great business model, which again is touting his

stock in a way that's inconsistent with his public disclosures and should be a violation investigated by the SEC, the Securities and Exchange Commission. If they haven't already opened to file against Donald Trump, they should. They went after Elon Musk for doing something very similar. And if he violates another law, Donald Trump committing another crime, violating his conditions of release in his three other criminal cases and the fourth one in New York. So we gotta follow things like the drop in the stock price,

the impact on Donald Trump's finances because you gotta follow the money. And where Donald Trump gets nailed in the pocketbook impacts his mental state and things and how he acts out and lashes out on the campaign trail and in all his criminal cases. And so we can't ignore it. It sits at the intersection of law and politics like we do. And so we're talking about it.

Again, stock price dropped dramatically, $500 million because brokers and traders on Wall Street know what they're doing and they smell a loser a mile away. And today that loser's stock price symbol is DJT. We do everything at the intersection of law and politics. We bring you the analysis. We do constitutional law, civil rights law, reproductive rights, voting rights, anything related to Donald Trump, anything related to the United States Supreme Court right here on the MidasTouch Network and on a show we call Legal AF.

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We don't blow smoke or sunshine, we don't patronize you, we teach you what you need to know based on our experiences practicing lawyers. On Wednesdays, I do the show with Karen Friedman, a Knifilow former prosecutor. On Saturdays, I do the show with Karen Friedman-Iknifilo, former prosecutor. On Saturdays with my co-founder, Ben Mycelis. And then of course we do hot takes like this one, I don't know, about every hour,

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