You Have To Be A Very Special Person Rationally To Buy This Stock

The emperor has no clothes — or, in this case, followers.

It seems Trump’s Truth Social has fewer than 80,000 daily users — down each of the last two months.  DJT reported a loss last quarter of more than $328 million on revenues of $771,000.

This, after more than 2 years’ operation!

Yet at Friday’s close, DJT sported an $8 billion market cap, or roughly $100,000 for each of its current active daily users.

What makes those users so valuable?

They pay nothing!

Advertisers do know that, as Trump fans, they’ll buy anything.  And that’s something.

(Well, right?  Trump Bibles?  Bobbleheads?  Bonds?  Big lies?)

But even then, $771,000 in revenue works out to just $10 each per quarter, $40 a year.

So if the company were so well managed by CEO Devon Nunez that it had zero expenses going forward — which, having lost $328 million in a single quarter seems unlikely — is there any way each $40-a-year user can be worth $100,000?

To someone like Putin, who desperately wants to see Trump win in order to conquer Ukraine and its neighbors, it may be worth pumping a few billion into the stock.

(I’m not saying he has, though he could certainly afford to.)

But that’s the only even remotely rational reason to buy it.