Truth Social, meanwhile, gained 10% today, now worth $5 billion on the revenues of a local taco chain and the net losses of a foundering 19th-century industrial empire. So we can stop pretending that stock prices mean things.
There are companies for whom stock price in meaningful, and other companies where prices are fueled by teh greater fools theory.
Meta is huge, it's a staple of numerous large funds and practically every American investor out there owns a stake in it. Significant movement in their stock price indicates something is going on.
Truth Social is a meme stock whose price is driven up by people looking to make a quick buck playing hot potato. Very few holders give a damn about the long-term viability of the company. Most are looking to ride the pump-and-dump.
Meta is huge, it's a staple of numerous large funds and practically every American investor out there owns a stake in it. Significant movement in their stock price indicates something is going on.
Truth Social is a meme stock whose price is driven up by people looking to make a quick buck playing hot potato. Very few holders give a damn about the long-term viability of the company. Most are looking to ride the pump-and-dump.