$DWAC - Trump Social Media is Doomed
UPDATE 3/5/2022: DAILY DRAGONFLY DOJI
The hits keep on coming for Donald Trump's signature social media application "Truth Social".
According to The Daily Beast, "In recent weeks, sources have heard the former president on the phone swearing gratuitously and asking things like, “What the fuck is going on” with Truth Social. He’s repeatedly groused about the negative press and the less-than-stellar optics of the rollout, these sources said. And he’s demanded to know why more people aren’t using it—why the app isn’t swiftly dominating the competition."
Dan Primack of Axios wrote a piece a few days back, "Trump's Truth Social bomb". This rollout has been a disaster. Most people are still on the waiting list to join. Trump has barely posted. The app is full of bugs. It's stopped to 37th on the Apple Store as of yesterday. Primack wrote, "Trump hasn't posted a single time since the launch, despite an international crisis that has captivated the country. Instead, he's given his comments to radio and TV hosts — including one this morning with Dominion conspiracy theorist Maria Bartiromo — plus via his CPAC speech".
Back to the Daily Beast article released earlier today. There have been some indications through actual concrete analysis that the application is an overall failure.
"But if the preliminary traffic numbers are of any indication, the former president and current wannabe social-media mogul has a point. The Daily Beast reviewed analyses of visits to Truth Social’s performed by SimilarWeb, which tracks website traffic from public and private sources. The company’s figures for the MAGA social network—while only an estimate based on incomplete data—are nonetheless anemic. Trump’s own social media platform is doing either worse or the same as other MAGA social sites like Gab—another pro-Trump competitor website that’s especially beloved by, well, Nazis—and Gettr, a platform fronted by one of Trump’s former top political aides, Jason Miller.
SimilarWeb’s estimates show a sharp spike of around 2 million daily visits to the site when it first debuted, before traffic dipped to an average of approximately 300,000 visits each day, putting the site on par with Gettr. Meanwhile, the far-right Gab has averaged around 650,000 daily average visits in the same time period. As of Friday, Truth Social was the 72nd most popular free app in Apple’s AppStore, a far cry from Facebook (5th) and his formerly beloved Twitter (22), both of which booted the ex-president after the Jan. 6 Capitol riot.
The relatively light traffic could be explained in part by Truth Social’s waitlist—MAGA fans who want to join the platform have now racked up a million-strong backlog of users looking to join during the app’s soft launch. The app is also only available on Apple devices, denying access to owners of Android phones. The extreme-right Gab, however, has managed to rack up twice the web traffic as Truth Social, despite its mobile apps being banned from both Apple and Google’s app stores."
This is all adding up to disaster here for the Trump Media SPAC.
What is the plan here? According to Seeking Alpha, "At a current market cap of over $15 billion as a pre-revenue company". They go on to add, "Thirty days post-merger, this total is expected to increase to over 170 million shares, excluding warrants."
This wasn't the only piece of bad coverage the new app received since my last update.
Politico's Ruby Cramer penned an article titled, "The Emptiness Inside Donald Trump’s New Social Media Platform".
"The site promises a safe space for “free expression,” encouraging of “all viewpoints,” according to the welcome email, “as we do not discriminate against political ideology.” But inside the app, digital tumbleweeds blew through my feed. The site is a bit slow, and a bit empty. Its stalled roll-out, led by Devin Nunes, the Trump supporter and former Republican congressman from California, has become a source of frustration and confusion in MAGA-world, according to my colleague Meridith McGraw. Republican lawmakers like Marjorie Taylor Greene and Matt Gaetz and Kevin McCarthy already have accounts and appear to be posting similar or identical content to both Truth Social and Twitter, along with right-leaning platforms like Gettr and Parler. (Apparently, no one is quite ready to turn their backs on an actual audience yet.) But when they do finally get their welcome emails, the thousands of regular Trump fans still waiting in line, eager for their chance to search for truth, will find a Twitter knock-off with no immediately discernible improvement on the original — a vanity project that has yet to prove its utility."
So we have a failed rollout with bugs, Trump barely posting, and share dilution coming to boot. I haven't even mentioned the biggest wildcard.
Trump's legal woes.
Last night, news broke that Trump could be facing criminal charges if the Attorney General wishes to proceed: "Jan. 6 Committee Lays Out Potential Criminal Charges Against Trump".
In a court filing, the panel said there was enough evidence to suggest that the former president might have engaged in a criminal conspiracy as he fought to remain in office.
So 1. Dilution 2. Sell the News with Planned Q1 Merger 3. Failed and Buggy Rollout 4. Potential Criminal Charges. 5. Data shows the app rollout is an absolute failure.
This is stock is heading down back to the single digits. Short this play next week before you regret missing out. There is no legitimate bull thesis for DDWAC- no matter where your politics stand.
The hits keep on coming for Donald Trump's signature social media application "Truth Social".
According to The Daily Beast, "In recent weeks, sources have heard the former president on the phone swearing gratuitously and asking things like, “What the fuck is going on” with Truth Social. He’s repeatedly groused about the negative press and the less-than-stellar optics of the rollout, these sources said. And he’s demanded to know why more people aren’t using it—why the app isn’t swiftly dominating the competition."
Dan Primack of Axios wrote a piece a few days back, "Trump's Truth Social bomb". This rollout has been a disaster. Most people are still on the waiting list to join. Trump has barely posted. The app is full of bugs. It's stopped to 37th on the Apple Store as of yesterday. Primack wrote, "Trump hasn't posted a single time since the launch, despite an international crisis that has captivated the country. Instead, he's given his comments to radio and TV hosts — including one this morning with Dominion conspiracy theorist Maria Bartiromo — plus via his CPAC speech".
Back to the Daily Beast article released earlier today. There have been some indications through actual concrete analysis that the application is an overall failure.
"But if the preliminary traffic numbers are of any indication, the former president and current wannabe social-media mogul has a point. The Daily Beast reviewed analyses of visits to Truth Social’s performed by SimilarWeb, which tracks website traffic from public and private sources. The company’s figures for the MAGA social network—while only an estimate based on incomplete data—are nonetheless anemic. Trump’s own social media platform is doing either worse or the same as other MAGA social sites like Gab—another pro-Trump competitor website that’s especially beloved by, well, Nazis—and Gettr, a platform fronted by one of Trump’s former top political aides, Jason Miller.
SimilarWeb’s estimates show a sharp spike of around 2 million daily visits to the site when it first debuted, before traffic dipped to an average of approximately 300,000 visits each day, putting the site on par with Gettr. Meanwhile, the far-right Gab has averaged around 650,000 daily average visits in the same time period. As of Friday, Truth Social was the 72nd most popular free app in Apple’s AppStore, a far cry from Facebook (5th) and his formerly beloved Twitter (22), both of which booted the ex-president after the Jan. 6 Capitol riot.
The relatively light traffic could be explained in part by Truth Social’s waitlist—MAGA fans who want to join the platform have now racked up a million-strong backlog of users looking to join during the app’s soft launch. The app is also only available on Apple devices, denying access to owners of Android phones. The extreme-right Gab, however, has managed to rack up twice the web traffic as Truth Social, despite its mobile apps being banned from both Apple and Google’s app stores."
This is all adding up to disaster here for the Trump Media SPAC.
What is the plan here? According to Seeking Alpha, "At a current market cap of over $15 billion as a pre-revenue company". They go on to add, "Thirty days post-merger, this total is expected to increase to over 170 million shares, excluding warrants."
This wasn't the only piece of bad coverage the new app received since my last update.
Politico's Ruby Cramer penned an article titled, "The Emptiness Inside Donald Trump’s New Social Media Platform".
"The site promises a safe space for “free expression,” encouraging of “all viewpoints,” according to the welcome email, “as we do not discriminate against political ideology.” But inside the app, digital tumbleweeds blew through my feed. The site is a bit slow, and a bit empty. Its stalled roll-out, led by Devin Nunes, the Trump supporter and former Republican congressman from California, has become a source of frustration and confusion in MAGA-world, according to my colleague Meridith McGraw. Republican lawmakers like Marjorie Taylor Greene and Matt Gaetz and Kevin McCarthy already have accounts and appear to be posting similar or identical content to both Truth Social and Twitter, along with right-leaning platforms like Gettr and Parler. (Apparently, no one is quite ready to turn their backs on an actual audience yet.) But when they do finally get their welcome emails, the thousands of regular Trump fans still waiting in line, eager for their chance to search for truth, will find a Twitter knock-off with no immediately discernible improvement on the original — a vanity project that has yet to prove its utility."
So we have a failed rollout with bugs, Trump barely posting, and share dilution coming to boot. I haven't even mentioned the biggest wildcard.
Trump's legal woes.
Last night, news broke that Trump could be facing criminal charges if the Attorney General wishes to proceed: "Jan. 6 Committee Lays Out Potential Criminal Charges Against Trump".
In a court filing, the panel said there was enough evidence to suggest that the former president might have engaged in a criminal conspiracy as he fought to remain in office.
So 1. Dilution 2. Sell the News with Planned Q1 Merger 3. Failed and Buggy Rollout 4. Potential Criminal Charges. 5. Data shows the app rollout is an absolute failure.
This is stock is heading down back to the single digits. Short this play next week before you regret missing out. There is no legitimate bull thesis for DDWAC- no matter where your politics stand.
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