Truth Social's Stock Gets Whacked
Tim Knight | Apr 26, 2022 12:38AM ET
Well, they had their chance. Truth Social —basically Twitter (NYSE:TWTR) without censorship—fumbled their launch horribly.
In the months that have transpired in which they couldn’t get their act together, something extraordinary happened, and in missing the boat, they have seen their stock—Digital World Acquisition Corp (NASDAQ:DWAC)—absolutely crumble.
That “extraordinary” thing—unimaginable, really—is, of course, Elon Musk buying Twitter and taking it private. In doing so, he will almost certainly render moot anything special about a platform that pledges not to censor (Twitter also has the advantage of having a gazillion people on it already).
What’s interesting to me as a chartist is what a NOTHING stock TWTR has been in the nearly decade it has gone public. The horizontal line shows the opening price on their first day as a public entity, back in 2013.
Just for snorts and giggles, I wanted to use a CAGR Calculator to compute the return over that time (I’m thinking it is perhaps 1%, or maybe a lot less) but the calculator literally refused to make the calculation since the figures were “beyond our scope.”
You KNOW you’ve got a bad return when a calculator gives you the middle finger.
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