There's Always A Silver Lining

UnTruth Social just hit its all time low. $9.73 a share. Down from nearly $80 when it launched. That's an 87% wipeout for anyone dumb enough to hold.

The annual report dropped and it's a masterpiece. $3.7 million in revenue. For the entire year. That's not a tech company. That's a mid-range kebab shop in Penrith.

The loss? $712 million. Let me put that in perspective. For every dollar they earned, they lost $192. That's not a business model. That's a speedrun to insolvency with extra steps.

The net profit margin is negative 19,343%. That's not a typo. Negative nineteen thousand percent. I didn't even know that was mathematically possible until Devin Nunes became a CEO.

And here's the best part. Most of the losses came from their crypto bets going sideways. Because when your social media platform can't make money, the obvious play is to gamble shareholder funds on bitcoin. Genius. Absolute galaxy brain stuff.

But wait there's more. They're now merging with a fusion energy company. Fusion. The technology that's been 30 years away for the last 60 years. And they're spinning Truth Social off into its own stock through a blank cheque company that has a history of bailing out the Trump family. You couldn't write this. Aaron Sorkin would throw this script in the bin for being too on the nose.

Meanwhile the stock trades at a price to sales ratio of 709. For context, Apple's is about 8. Tesla's is about 12. DJT's is 709. That's not a valuation. That's a cult membership fee.

But here's your silver lining. This stock is basically a Trump approval rating you can short. His polls drop, the stock drops. The war in Iran gets worse, the stock drops. Every time he does something catastrophically stupid, which is roughly every 6 hours, money evaporates from the pockets of people who bought a meme stock because they thought patriotism had a ticker symbol.

The market is doing what the courts won't. What Congress can't. What the media struggles to. It's holding up a giant scoreboard that says this bloke is costing you money right now, today, in your brokerage account, and there's nowhere to hide from that number.

You can spin polls. You can screech fake news. You can blame the deep state. But you cannot argue with an 87% drawdown. The stock market doesn't care about your feelings. It just counts.

And right now it's counting backwards.