John Oliver from Last Week Tonight explained how the stock for Truth Social is similar to a reverse version of GameStop that became a meme.
Oliver commented after two Trump supporters explained why to buy the DJT stock:
You have to admire these guys. Look, in a way, they’re correct. Truth Social is now essentially a meme stock. Its price has increased based on the same principle as meme stocks like GameStop or AMC. If enough investors purchase shares, they can raise the price, and everyone can try to cash out before the bubble bursts.
But the GameStop movement was at least somewhat about taking financial power away from wealthy individuals and giving it back to the average person, while this movement is about directing the average person’s money directly to the wealthiest individual there is. It has been promoted in the same manner as other meme stocks through social media posts like one urging people to buy DJT if they love America, or another suggesting to remain calm and buy more DJT, and even a personal favorite promoting the stock alongside an eagle shaped erection that releases glitter, which I suppose makes sense.
Truth Social is comparable to a penis in that many unhappy men on the internet spend time lying about its size and abilities. It’s uncertain where this will lead. The value of Truth Social may plummet when people realize they have invested billions of dollars in a potato with the words social media painted on it.
However, if that does happen, I suspect Trump will have already cashed out, leaving his supporters with the losses. There’s also a possibility that Trump could become president again and retain the platform as a convenient method for companies and foreign interests to funnel money into his pockets, as they are aware he needs it.
But the main point here is that this year, more than ever, everything Trump does will revolve around making money. This year has presented one of the few times he has been held accountable for his actions, but already others are covering the costs.
Video:
Truth Social is a scam. It is a hollow company that produces nothing and refuses to disclose the number of users on the site. Every aspect of Truth Social is suspicious. Oliver was correct. This likely involves Trump cashing out and leaving his supporters destitute.
This is a recurring story. Trump escapes unscathed while his gullible supporters are left with the losses and the aftermath. As long as people continue to financially support Trump, he will continue to deceive for personal gain.
