Forbes is a leftist rag. This is just another attack by the Trump haters. DEI may be reined in but it is still there and it’s going to be around and a real pain in the ass for quite a while.
as it stands right now, i would not recommend until it hits the bottom. also, buying this stock does not help president trump! remember that, to help president trump, give your money directly to him via donations, his bibles, and yes even rnc now that he has control of it.
When the founders and insiders are suing each other to drop the 6 month lock up in order to sell their shares, you know you’ve got a big fat dumpster fire.
Like a slow motion waterfall. Someone is carefully unwinding their position while trying not to accelerate the crash. A fine art some folks on Wall Street get paid very well to do.
Let’s be realistic: the stock has dropped to about half its initial price so far, and there isn’t any fundamental reason why it would go up instead of continuing to decline. Multiple rational estimates put this stock’s firm foundation value at well under 10 dollars a share, closer to 2-3 dollars per share, and we should see the stock’s price regress to this rational estimate.
So who should be worried -— someone who bought this thing at $70 or $50 or $40, or someone banking on the stock going down?
The company has $200M in the bank, if the market cap matched that each share would be worth about $7. Except the $200M are actively being spent at over $50M a year and the company has no growth and no intellectual property to sell if it goes out of business (it’s a redesign of the open source project Mastodon).
am glad i got in at around $17 last year, sold 75% at $50. will buy more at around $20 depending