This is the Saudis and Russians putting in the bribe money in preparation for the election. This scam has always been a front for funnelling money to him. Watch him sell shares like a motherfucker and take his $10B bribe just in time to maybe end up in the Oval Office.
If he loses and the SEC is tracking down the sources of these trades, I can’t wait to see the blood.
Negative? Someone’s paying you to buy it?
It’s a bad headline, means negative for the day.
Although commodity futures can go negative in unusual situations. During the pandemic, oil prices went negative because demand was low and production was still high, so the cost of storing it was driving the price down. The fact that it went negative was mostly due to speculators though.
Oil futures were down. Not actual oil.
An oil future in WTI makes you legally obligated to pickup the oil in West Texas or along its pipe network (most common pickup point is Arkansas IIRC).
So let’s say you bought an oil future for $0 at $0 a barrel. And now 10,000 barrels of oil are waiting for pickup. And let’s say you are a New York speculator and not actually someone with storage.
How do you get rid of the contract before you are penalized? Well, you sell it at -$10. But the guy who bought it for -$10 was also a New York speculator who thought the price couldn’t go any lower.
By the end of the day, the speculators were selling the contract for -$40 a barrel, because the penalty for missing the pickup date is very heavy.
Eventually, some trucker ‘Bought’ the contract at -$40 and made free money as the trucker just had to go there and pick up the oil.
This is and always has been nothing more than a glorified Las Vegas bet on whether or not Trump wins the election. People who think Trump is going to win are trying to get in on as close to the ground floor as possible.
If Trump loses, the investors lose all their money. Trump’s stock price tanks and his dime store social media platform becomes even more obscure and worthless.
If Trump wins, Truth Social essentially becomes the official social media platform of the President of the United States. Regardless of what you think of Trump, his platform, or anything else, this will drive people to the site in droves. It will force people to pay attention even if they don’t want to, because at the end of the day, he’ll still be President and that’s where all official information will be disseminated. It will bring in advertising revenue and the people who bought the stock previously will make absolute bank.
It’s literally the equivalent of taking your entire life savings to the Roulette table and putting it all on #27. You’re probably going to lose everything, but if you win, you’re going to be set for life. That’s what Trump’s investors are doing. Except their odds are much, much better.
I just love how much it must be hurting him to see his initials attached to a worthless share price
