Trump Media shares fall nearly 10% after DJT plunge triggers trading halt
www.cnbc.com
Trading in Trump Media shares was briefly halted due to volatility, after the Truth Social owner's stock suddenly plunged in price.
    • givesomefucks@lemmy.worldEnglish
      526·
      1 month ago

      It looks like it because the Y axis doesn’t start at zero.

      If it went to zero, then yes that would be a textbook example.

      When we had to print stuff out it could be defended, but even then I’d like it to start at zero and show a break to jump up.

      If being zoomed out to zero means it erases the change being shown, then that matters. Not zeroing the y axis can make anything look crazy.

      I dunno, I’m a stats nerd, I’ll rant about it every time I see it.

        • givesomefucks@lemmy.worldEnglish
          21·
          1 month ago

          I know it seems pedantic, but I think it’s rise in use especially with stock prices has a large effect in people’s minds and has helped usher in the stock culture where numbers must always go up and any dip is death.

          Like, you know those studies about how language shapes people’s minds and more communal languages lead to people who often think of others and prioritizes the group?

          I think y axis graphs not starting at zero is leading to decades of financial analysts obsessed with the most minute changes and drastically over reacting to anything that happens, even if stepping back to a 0 Y graph the change wouldn’t even be noticeable.

          Obviously I’m not mad you linked it, it gave me a chance to vent about this stupid graph.

          I’m pissed CNBC is doing it, they have people that know better but this graph is more sensationalized so that’s what they ran with.

          The thing is this shit has real life consequences and our economy is fundamentally built on people’s opinions. If people get scared of investing in general because of zoomed in graphs and panic sell, it could domino into an actual crash.

          Like, you ever have one of those days where you think Nero was smart for just kicking back and watching the show and Cassandra was the crazy one because she never stopped trying to explain what she thought was obvious?

    • UnderpantsWeevil@lemmy.worldEnglish
      34·
      1 month ago

      It’s been on a run over the last month, coming off a $12/share low and screeching towards a $32/share high.

      Movement like this is absurd, given the near nonexistent changes in actual business activity around the equity. Either its being pumped and dumped by speculators or used as a back door around campaign finance donations or who even knows what. But the degree to which the SEC is turning a blind eye on this nonsense is one more data point in the “Rich People Play By Different Rules” connect-the-dots game.

      • Semi-Hemi-Lemmygod@lemmy.worldEnglish
        18·
        1 month ago

        But the degree to which the SEC is turning a blind eye on this nonsense is one more data point in the “Rich People Play By Different Rules” connect-the-dots game.

        QFT

    • AbidanYre@lemmy.worldEnglish
      17·
      1 month ago

      84 million shares had traded hands by 3:18 p.m. — multiple times the company’s 30-day average trading volume

      Sure looks like it.

    • Zachariah@lemmy.world
      11·
      1 month ago

      Trump … said he wouldn’t, so he probably did.

      You could post this comment all day long, every day.

    • givesomefucks@lemmy.worldEnglish
      112·
      1 month ago

      Nah, as much as he has it would have cratered the price, especially because everyone around him would dump immediately.

      This is just someone trying to beat it, and trump is likely furious.

      If he was cashing out, and he’d have pulled everything at once.

    • iAmTheTot@sh.itjust.works
      4·
      1 month ago

      I remember reading there was a period of time where he was legally not allowed to sell his shares. Has that time elapsed?

    • GroundedGator@lemmy.world
      2·
      1 month ago

      He is an officer of the company and the majority stakeholder. He’s legally required to file with the SEC. If that has happened it would be huge news on every outlet.

  • thisorthatorwhatever@lemmy.world
    27·
    1 month ago

    In a years time, will learn that rich billionaires like Elon Musk are propping up this stock. Think of all the speculators playing this stock because it’s so volatile.