Daily Scoop 🍨: Target Buy Price $12.01, Sell at $23.89
Key Points:
Donald Trump made headlines by purchasing hamburgers with Bitcoin at PubKey Bar in New York.
Donald Trump burger purchasing is seen as part of his strategy to engage with the crypto community.
Former US President Donald Trump reached the front page headlining a public Bitcoin transaction big moment in his career and crypto industry.
Initially I agreed with the majority of answers that point out that no rational model of the net present value of the future earnings can justify a value within two magnitude of its current value, hence way overvalued. But upon consideration, and watching the first week of trading, I’m forced to change my mind…
The scathing rumors that DJT is part of a money laundering operation to take Russian money and funnel it to Trump is hogwash.
The stock sale though is perfectly clean cash from other over-eager US investors, and untraceable to its real origins.
If the board votes to waive part of the lock up for Trump, perhaps just the language about pledging the stock for collateral for a loan, then view that as confirmation. Especially if the rest of the lock up is extended in duration as quid pro quo (it would lengthen the period for which he is tied to the dark party). Of course, now the appeals court has waived most of the bond, it’s less urgent, so perhaps you won’t see this happen after all.
A full list of investors would be interesting. I bet there is almost no significant US or European institutional investor money in this stock. Maybe DeutscheBank.
Modify on 2024-09-25 07:35
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