Saturday, 27 Apr On this day ...
Still from Trading Places, 1983. Courtesy Everett Collection
Q1. On Tuesday, Trump Media and Technology (TMT) started trading publicly on the Nasdaq stock exchange under ticker DJT. It's the parent company of Truth Social, the Twitter-clone started by former President Trump and advisors in 2021.
As of Thursday, the stock was $65/share, giving he business a valuation of $9 billion.
Do you plan to own or be short the shares of TMT in the near future? (Note: Being short is the opposite of owning — you profit when the price goes down)
As of Thursday, the stock was $65/share, giving he business a valuation of $9 billion.
Do you plan to own or be short the shares of TMT in the near future? (Note: Being short is the opposite of owning — you profit when the price goes down)
male
female
rep
ind
dem
18-29
30-44
45-64
65+
Own some already
2%
3%
2%
5%
3%
0%
0%
5%
2%
1%
Plan to own
9%
11%
8%
21%
5%
0%
3%
7%
13%
10%
Don't plan to own or be short
69%
68%
69%
51%
73%
82%
71%
73%
64%
72%
Plan to be short
4%
5%
4%
1%
4%
7%
10%
6%
2%
2%
Already short
1%
1%
0%
0%
1%
1%
0%
1%
1%
Don't know
7%
7%
7%
16%
3%
1%
3%
4%
11%
7%
Don't care
8%
6%
10%
5%
11%
9%
12%
4%
8%
8%
Q2. Truth Social's revenue in 2023 was $5m. At its current valuation, it is trading at 2000x annual revenue.
By comparison, social media companies Reddit, which went public last week, trades at 9x revenue, Facebook at 8x, Snapchat at 6x.
What do you think is the main reason TMT trades at a multiple that is 200-250 times greater than that of other social media companies?
By comparison, social media companies Reddit, which went public last week, trades at 9x revenue, Facebook at 8x, Snapchat at 6x.
What do you think is the main reason TMT trades at a multiple that is 200-250 times greater than that of other social media companies?
male
female
rep
ind
dem
18-29
30-44
45-64
65+
Investors expecting TMT to grow revenue
16%
18%
15%
35%
13%
2%
10%
12%
21%
17%
Trump voters showing political support
26%
31%
22%
35%
30%
18%
28%
24%
25%
28%
Donors funneling money to Trump
33%
28%
36%
7%
33%
53%
37%
36%
28%
32%
Day traders playing "meme stock" games
11%
11%
10%
8%
13%
14%
18%
11%
10%
9%
Other
2%
1%
3%
0%
3%
3%
4%
0%
2%
1%
Don't know
9%
8%
11%
12%
4%
9%
3%
14%
11%
7%
Don't care
3%
3%
3%
3%
5%
3%
0%
3%
3%
5%
Q3. Trump owns 58% of TMT, which puts the value of his share at $5bb. This is thought to be more than double his preexisting net worth of $1bb -$2bb, and dwarf his annual campaign and PAC fundraising of about $120m
Some observers have pointed out that people, organizations, or governments that wish to donate to Trump without the restrictions that come with campaign donations, can do so by buying shares of TMT.
Which do you think are likely to buy shares in order to donate or otherwise curry favor with Trump? (check all that apply)
Some observers have pointed out that people, organizations, or governments that wish to donate to Trump without the restrictions that come with campaign donations, can do so by buying shares of TMT.
Which do you think are likely to buy shares in order to donate or otherwise curry favor with Trump? (check all that apply)
male
female
rep
ind
dem
18-29
30-44
45-64
65+
US citizens
65%
72%
57%
71%
65%
61%
82%
70%
57%
57%
US companies
56%
60%
53%
54%
57%
57%
61%
64%
55%
49%
Foreign citizens
41%
43%
39%
28%
38%
50%
35%
52%
39%
35%
Foreign companies
53%
52%
54%
33%
52%
70%
49%
64%
52%
47%
Foreign governments
56%
52%
61%
28%
56%
78%
49%
65%
54%
54%
None of these will
6%
5%
7%
9%
5%
3%
7%
4%
7%
5%
Don't know
8%
6%
10%
9%
8%
7%
5%
10%
7%
8%
Don't care
5%
5%
6%
6%
6%
4%
0%
7%
6%
4%
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