Rooting for Donald Trump to fail has rarely been this profitable.
Just ask a hardy band of mostly amateur Wall Street investors who have collectively made tens of millions of dollars over the past month by betting that the stock price of his social media business — Truth Social — will keep dropping despite massive buying by Trump loyalists and wild swings that often mirror the candidate’s latest polls, court trials and outbursts on Truth Social itself.
Several of these investors interviewed by The Associated Press say their bearish gambles using “put” options and other trading tools are driven less by their personal feelings about the former president (most don’t like him) than their faith in the woeful underlying financials of a company that made less money last year than the average Wendy’s hamburger franchise.
It’s a HUGE gamble, if it goes up you could be millions in debt.
It seems obvious it would go down right?
But, there’s always the possibility that a foreign entity (Russia) launders money to him by buying up a shit ton of his stock and drives the price up.
That would ruin the lives of people trying to make money by shorting it.
I wouldn’t encourage anyone to gamble in this economy, but especially not on a con-man with connections to very rich foreign governments who have a vested interest in making sure he makes money.
Just look at Tesla. Not as absurd as this, but still absurd. People have lost entire fortunes betting against wildly overvalued stocks…
The market can remain irrational longer than I can remain solvent.