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.
There may be some cracks forming in the egg market.
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