The MeidasTouch Podcast - Trump Stock is TANKING after SEC Filing…

Episode Date: April 1, 2024

MeidasTouch host Ben Meiselas reports on Trump Media Stock ($DJT) tanking after Monday’s 8K Colin with the SEC. Head to https://TryFum.com/meidas and use code MEIDAS to save 10% off when you get the journey pack today! Visit https://meidastouch.com for more! 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 Uncovered: https://www.meidastouch.com/tag/maga-uncovered Learn more about your ad choices. Visit megaphone.fm/adchoices

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to the messenger, which went under in less than a year. Although I would correct that slightly, the messenger was having about 18 to 19 million visitors per month. I believe the Trump media website Truth Social is getting something in the range of between 5 and 10 million unique visitors every single month. So actually far less than the Messengers. We could just take a look right here at the consolidated statement of operations from Trump Media and Technology Group. So you can just see it for yourself. This was in the filing with the SEC. If you look at the P&Ls, you can just see it was a $58 million loss. You can see the $4.1 million in revenue. And so something that generates $4.1 million in revenue.

And so something that generates $4.1 million in revenue with a $58 million loss, it is simply inexplicable, other than it's trading at a meme stock, how anything could have a valuation in the billions when it comes to financials that are so horrible, in my opinion, like this Trump media group. I mean, if you looked at, you know, evaluation as a multiple of revenue, which I don't know why you would even do that here, given the $58 million loss and the fact that there's no appreciable growth strategy here whatsoever, and you're only getting between 5 to 10 million visitors every single month.

What do you want to apply? A three to four times multiple? If I'm being generous to revenue here, which you wouldn't do based on the loss. But so what? You would have Trump media being valued at $12 million, $15 million at most, in my opinion. But because it's trading like a meme stock, and I always said that the retail investors need to be very, very cautious

and very aware of what is going on. And I've always predicted here, it's not a matter of if Trump Media now trading under the stock ticker DJT. It was previously Digital World Acquisition Company. I was saying it's not a matter of if DJT or DWAC before that is going to fail. It's a matter of when because the fundamentals and the financials simply don't back anything up for anywhere near the valuation here. And it seems to just basically be short sellers versus short squeezers

and people trying to all like screw each other and game the system. And that's what appears to be what's going on here, in my opinion. You take a look and you delve deeper into this 8K. There's some additional disclosures that's worth reporting here. You've got Devin Nunes, who's the CEO of the organization. You'll see that Devin Nunes was paid $750,000. Former MAGA Republican Congress member, Devin Nunes, MAGA Republican, very loyal to Donald Trump, engaged in what I thought was a lot of improper conduct, and I'm sure you did as well,

while he was a member of Congress for Donald Trump. He would bring things over to Donald Trump in the White House and quite literally sneak things to Donald Trump over in the middle of the night. And so here's Nunes getting rewarded with $750,000 there. Also, as you look through the 8Ks, you see Kash Patel, a loyalist to Donald Trump, as well as Trump's social media guy and former deputy chief of staff, Dan Scavino, also getting some big paychecks right here. Kash Patel was getting paid about $120,000 a year. Dan Scavino, who also works on the Trump campaign, making here about $240,000 in 2023.

And also the Trump media issued a promissory note of $2.2 million to Dan Scavino as well. And so it's just an interesting thing to see here how people like Kash Patel and Dan Scavino, who are working with Donald Trump in the campaign capacity as well, are here also getting paid using Trump media as a vehicle for that. And you see Scavino getting this promissory note as well. When you go through the SEC 8K filing as well, that seems to be one of the causes that precipitated the tanking of the stock. Also, the fact that its fundamentals are just completely trash. You see that it mentions that the $18 million cease and desist civil penalty to the SEC. It talks about in connection with the

consummation of the business combination on March 25th, Digital World paid $18 million civil penalty to the SEC pursuant to the cease and desist order. That was for engaging in unlawful communications prior to the S-1 being filed, prior to the announcement of the SPAC and it looks like that Trump Media made a digital world acquisition company, the SPAC sponsor, pay that amount from what was held in the escrow account from the initial group of investors. Ever tried to break a bad habit and felt like you're climbing Everest in flip-flops? Yeah, we've been there too, but here's a breath of fresh air. Fume. It's not about giving up.

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good habit that much easier. Go to tryfume.com slash Midas and use our code Midas. You go through the 8k. It talks about all of these lawsuits. Lawsuit against ARC and Patrick Orlando. Litigation with United Atlantic Ventures in Delaware. Lawsuits against United Atlantic Adventures, Latinsky, Moss, and Orlando in Florida. There's lawsuits all over the country right now with this, and not shareholder lawsuits yet here. The lawsuits that we're talking about, well, not retail shareholders. I mean, the other people are shareholders as well. But these were like some of the initial founders with Donald Trump. We're talking about Orlando being one of the founders on the SPAC

sponsor side. And then you had the other individuals who were kind of founders on the Trump media side who brought him that idea. They're all involved in lawsuits with Donald Trump saying that Trump engaged in improper conduct towards them. Everybody is suing everybody here. And that's made very clear in the 8K. That's one of the risk factors that's listed as well. The outcome of any legal or regulatory

proceedings that have been or may be instituted in the future against the Trump media group and others and the costs thereof may be a risk factor that can cause the failure of this organization. And then the new 8K, of course, incorporates by reference the risk factors that were listed in the initial Trump media merger documents, which talked about all of the various bankruptcies of Trump entities over time and all of the Trump companies that have failed over time. I mean, it's a laundry list. If we just pull that up right there, I mean, you can take a look at just this bankruptcy, bankruptcy, bankruptcy, bankruptcy, bankruptcy, bankruptcy, bankruptcy, all these things over the past 30 years and plus where Donald Trump has run companies into the ground, not to mention another publicly traded company that he ran into the ground. You know, and so look, we've been raising

the red flag here. We've been raising the red alerts here to everybody saying, look, look, look, everybody, this is a major, major issue. You've got this Trump media doing, I mean, what? Five to 10 million unique visitors a month, four million in revenue a year. People are going to get seriously hurt by this. And Donald Trump has been positioning this. So he becomes the beneficiary and it seems that everybody else would get screwed. Just if you even look at the trash that's on Truth Social, it's just some of the strangest stuff. I mean, just take a look at some of the stuff that's on there. I look at it from time to time because I'm probably one of

those unique visitors who show up because I'm trying to look to see the filth and what's being posted there so I can raise the alarm to everybody about what's going on. And so it says things like, with the billions of tax dollars Washington has given to Ukraine, we could have finished the wall and still had money to spare. Democrats voted to fine Americans for not buying health insurance, but want to give illegal immigrants for free. And then it says, estate planning for gun owners. Yes, it's different.

So there's ads like that and there's posts like that. What I found interesting too last year was when you had people like Patrick Bet-David, a right-wing podcaster who would say things like, if Truth Social fails, that will actually help Donald Trump. Take a look at the monthly visitors to Truth Social, August 2022, 11.5 million visitors. Take a look at February 2023, 5.7 million visitors. That's a 50% drop off in six months. The longer truth is around, the better it is for his opponent.

So they tried to spin it, like this is a good thing for Trump when it's failing. But we'll keep you posted. As I've said before, in my opinion, it's not a matter of if this fails, it's a matter of when it fails. And I think that, you know, perhaps what I underestimated, which I shouldn't have, you know, was the kind of depth

and extent here to which how horrific this failure I think is going to be for the retail investors and what a massive, massive kind of fall, in my opinion, I think this is going to have. I think I perhaps even underestimated that piece of it, but we will see. We'll keep you posted. But as of right now, the stock is not doing well. And you'll see why. I mean, there's no fundamentals that back it. And that's why I wanted to show you, look, $58 million loss, $4 million in revenue. You're talking about, as I said before, 5 to 10 million visitors.

That's, again, I said Midas Touch does about three to four times the amount of visitors in a 48-hour period, I think, than what Trump media would do in a month based on those numbers, something like that. Anyway, I'm Ben Micellas. Hit subscribe. We're on our way to 3 million subscribers. Thanks to your support. Hey, Midas Mighty. Love this report? Continue the conversation by following us on Instagram, at Midas Touch, to keep up with the most important news of the day. What are you waiting for? Follow us now.