Rooting for Trump to fail has made his stock shorters millions
Friday, 26 April 2024 ()
Rooting for Donald Trump to fail has rarely been this profitable. Just ask a hardy band of mostly amateur investors who have collectively made tens of millions over the past month by betting that the stock price of his social media business – Truth Social – will keep dropping despite wild swings that appear to mirror the candidate’s latest polls, court trials and outbursts on Trump Social itself. Several of these investors interviewed by The Associated Press say their bearish gambles using “put” options are driven less by their personal feelings about the former president than by their enduring faith in the woeful underlying financials of the company.
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