Trump Media is a risky bet, whether you love it or hate it
CNN
Trump Media’s trading debut this week gave Donald Trump’s biggest fans a way to show their support with their wallets, albeit in a seriously risky way that few financial advisers would endorse.
Trump Media’s trading debut this week gave Donald Trump’s biggest fans a way to show their support with their wallets, albeit in a seriously risky way that few financial advisers would endorse. Naturally, Trump’s detractors may be keen to take the opposite side of that bet by setting up a short position, a.k.a. a wager that the stock’s value will fall. The short bet might look appealing on paper. After all, Trump Media, the parent company of the fledgling right-wing platform Truth Social, brings in little revenue, posts zero profit and has given no indication it has a path to profitability that would justify its current $9 billion market valuation. The stock is pretty much guaranteed to fall, right? Yes. But it may take a very long time. And it’s now the most expensive US stock to short, with borrowing rates more than 200 times the average, according to research from S3 Partners. Those who have already swallowed the high borrowing costs to short Trump Media are getting hosed. On Tuesday alone, shorts notched paper losses of $61 million, according to S3. It’s worth noting that a short bet is almost always riskier than a long one. If you buy $100 worth of shares that eventually become worthless, your loss is limited to $100.
Intel has named a new chief executive, as the chipmaking giant attempts to recover from several bruising years that saw the one-time industry leader fall behind most of its rivals.
Two months ago, JPMorgan Chase CEO Jamie Dimon defended President Donald Trump’s tariff policy with a curt message: “Get over it.” But with stock markets lower and cracks appearing to form in the US economy, Dimon himself might not be over it.
The US Federal Trade Commission asked a federal court in Seattle on Wednesday to delay a September trial in its case alleging Amazon misled consumers over its Prime subscription service, citing “severe resource shortfalls in terms of both money and personnel.”
There may be some cracks forming in the egg market.
Ruth Marcus, who recently resigned as a Washington Post columnist after four decades, said she parted ways with the paper following a spiked opinion piece on the paper’s billionaire owner because her job is to tell readers “what I think, not what Jeff Bezos thinks I should think.”
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
Inflation slowed in February for the first time in four months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans.
With his chaotic trade policy, President Donald Trump is digging himself into an economic and political hole so deep, it may prove impossible to climb out.
American consumers – and their wallets – are the engine of the economy. But they’re now showing the strain of inflation, President Donald Trump’s tariffs and a stock market plunge.
Elon Musk has secured a major win in India by signing two back-to-back deals to bring SpaceX’s Starlink satellite internet services to the country.
President Donald Trump imposed a sweeping 25% tariff on all steel and aluminum imported into the United States early Wednesday, a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.
Meta is once again facing allegations from a former employee that a growth-at-all-costs culture has caused offline harm.
It was almost an extraordinary scene in front of the White House. As Tesla shares have been tanking since the year began, President Donald Trump held remarks outside of the White House with the company’s CEO and Department of Government Efficiency Head Elon Musk – all in front of a line of shiny Tesla vehicles.