$Trump Media & Technology(DJT)$ When Tesla (TLSA) went public in 2010, with revenues that had increased 17 times over the previous three years, its price/sales ratio was 23. When Google, now Alphabet (GOOGL), went public in 2004, with year-over-year revenue growth of 147%, its price/sales ratio was 14. When Facebook, now Meta Platforms (META), went public in 2012 with a 35% one-year growth rate, its price/sales ratio was 20. Historically, investors have determined that groundbreaking products in new industries are worth about 20 times current sales. Yet, Trump Media commands a price/sales ratio of 1,500 or 75 times higher than its predecessors. If investors valued Trump Media’s IPO like they did the initial public offerings of Tesla, Google and Facebook, then Trump Media stock would be selling at 50 cents per share. And even that would be generous because Truth Social is not a groundbreaking product and does not operate in a new industry.
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