Shyon
04-10

Donald Trump has crashed out of the ranks of the world's 500 wealthiest people after the value of his meme stock nosedived.

The former president has fallen off the Bloomberg Billionaires Index as his net worth has dropped below the $5.8 billion required to make the cut. Forbes' rich list pegs Trump's total wealth at $4.8 billion, ranking him 659th in the world.

Donald Trump's media company continues to struggle in the market after going public via SPAC two weeks ago: Shares of Trump Media & Technology Group, the parent company of Truth Social, closed at $37.17 earlier this week, falling another 8.4%, after plummeting last week.

This represents a 53% decline from when the company soared more than 50% on its first day of trading in late March, after completing its merger with the shell company Digital World Acquisition Corp. It traded above $79 a share on its debut.

One reason Trump Media is moving so much more than a typical stock is because it achieved a very lucrative valuation when it went public that experts say defies logic. And stocks with ridiculous valuations tend to be more volatile, with little support once they start plunging.

Lesson of the day : Never FOMO and chase high on the meme stocks like $TRUMP MEDIA & TECHNOLOGY GROUP CORP(DJT)$  $Faraday Future Intelligent Electric Inc.(FFIE)$  $Astera Labs, Inc.(ALAB)$  $Destiny Tech100 Inc(DXYZ)$ . You will be hit hard if you enter or open your position at peak. Take it a lesson. All the best guys! [Spurting]  [Spurting]  [Spurting]  [Anger]  [Anger]  [Anger]  [Sad]  [Sad]  [Sad]  

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# How Low Can DJT Stock Go?

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  • PhoenixWhitman
    ·04-11
    It's a valuable lesson for all investors to keep in mind.
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