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we called it reddit's IPOs is a victory shares of the company are up 15% at the time of taping after jumping 48% on the
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first trading day Market uh reddit's market cap is currently over9 billion uh another thing we called Trump media is a
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meme stock shares the company jumped over 50% in the first minutes of trading causing a brief volatility pause Trump
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media is trading at a market cap of almost 8 billion uh the company made just $3.4 million in the first 9 months
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of 2023 which is and they lost a ton of money they're losing um they're down 39%
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in users it's just a it's a scam of some sort it's just a it's a Ponzi SC I don't
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know what's the word you would use um so talk about Reddit first and then uh Trump media stock uh we called this the
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Reddit most traffic site in America that's not owned by alphabet in terrible monetization of that traffic but at the
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same time that represents the opportunity and uh there's also a ton of money on the sidelines it just all the
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mo lined up I just you could just feel this thing was going to get a big pop and also there's this very strange
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dynamic in the IPO Market where it now makes sense for the company to price below the actual value they could get
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such that because here's the thing we're talking about the fact that it was up 48% that's it's the only time you have
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this branding event to be kind of the most successful or one of the most successful IPOs of the year and people
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say well they left money on the table because they could have priced it higher when you're talking about a float of 20%
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% maybe you lose 2% of the company but to be one of the most successful IPOs of the year and set the tone for your
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company it's worth the dilution so this is the Racket and it is a racket the investment Banks say price it below what
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it's worth and it's good branding it creates nice momentum nice Halo for you you only give up a little bit of
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dilution and we the Investment Bank get to essentially give free money to our institutional clients who generate fees
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for us now the unfortunate thing is the average retail investor doesn't get to participate they have to buy it at 47
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bucks even though it priced at 34 I think so it's a racket it's another example of a transfer of wealth from
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lower middle- income homes to institutions and rich people or people with access some people would argue well
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Vanguard Blackstone have a lot of money from Firemen and teachers and they get to participate but be clear the IPO
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Market is an Insider game and it is a bit of a fixed racket yeah yeah where's it going to go from here I think they'll
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just have to now they'll be on the basics of what they're business is like going forward there's only one thing
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that matters from this point forward right now it's right now on its basic numbers and its growth it's overvalued
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if they show any momentum that they are able to better monetize that Niagara Falls of traffic the stock will go up
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from here if they do not show momentum around monetization of their traffic it's going to go way down it's all I can
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tell you is in a year the stock will not be here but GL I would agree I think they've got it it's going to be in but
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it's still a very small it's very snap chatty it feels very Snapchatting very great a good product we'll see if they
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can look like better than what it is I I I like the people who run it and it's still small it's still a very small
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social media site but but the the contrast with SNAP is snap had much better user interface in my opinion was
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probably more Innovative great better monetization but didn't have nearly the traffic of Reddit
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and I think the market is deciding that the harder part is to get the traffic that you can probably figure out the
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other stuff because this is trading I mean this is trading at a rich valuation now is a segue to True
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social okay let's talk about Nvidia Nvidia is arguably the eye of the storm for hype round Ai and it's trading at 37
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times sales oh my God that's insane right 37 times sales Reddit is trading at 11 times so 11 for Reddit digital
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media potential huge growth we'll see uh Nvidia arguably hottest company in the world ,000 people turn out like like a
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Justin Bieber concert or band concert at the San Jose Stadium to see Jensen hang
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speak the financialization the idolatry of innovators and billionaires anyways that's trading at 37 time sales truth
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social is trading at 1,500 times sales I mean you want to talk about a company that is D Jenga or a house of House of
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Cards and by the way not Financial advice I would not get near the thing because you don't know what will happen
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because this is has nothing their followers are going to do it's all based on his followers and if they're going to
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keep it up they're going to keep handing him money it's also a very deaf way to give him money right if he's going to
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sell it is to keep it's it's a really complex way to give him money but he you know they're trying to it's all Trump
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fans and it's going to be Trump uh donator people who want to donate in a different way um just to keep it going
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and there's all these rumors that he's getting people to keep it going you know by buying all you have to buy is just a
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little bit to keep this stock in a crazy Zone you don't have to buy that much um
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and and that there's all kinds of games happening here I think this is an SEC violation happening in real time right
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now and I think it's a shareholder lawsuit situation and it's a it's a scam of some sort it's a it's not even a scam
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what is it it's a it's a meme stock it's a meme stock but it's the memest meme stock of in mem bille is one of the
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reporters called it and it just stay away even shorting it is a very dangerous situation correct I
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mean my advice to anyone here is not to get near this thing because it's not trading it's it's just unknown what it's
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trading on as far as we know he calls some someone in the gulf and says you know I'll make sure that we buy oil from
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you just do me a favor come in heavy and you're right there's a tale of a whip here a small amount of a small amount of
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purchases can send the stock skyrocketing and you just don't you don't want to get near this thing right
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now I mean AMC and GameStop were considered kind of the ultimate meme stocks they're shitty businesses but
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they were businesses they were doing billions in Revenue you could make an argument for theaters coming back you
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can make an argument for GameStop getting an I don't know download a video game you you could make an argument good
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decent management the guy from chewy whatever you can make an argument there this does 3 million in Revenue there's
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not even a there really isn't even a business here this is not a business this is something else yeah he just has
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to call some guy and say buy a million bucks buy a million bucks here um and it's it's like cost of doing business
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for people if he becomes president that's really it it's it's a it's a it's so corrupt it's so crazy corrupt um it's
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just going to be very interesting what happens the board is his son Devin and then who is it it's another Deon Nunes
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his son another they're all his friends and all Oh Linda McMahon this makes this
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makes Tesla's board look like a model of corporate governance yeah that's true and they can they can announce we've
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decided his lock perod or eliminate it and he canes away they will have to discl
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that'll be interesting is what happens to the stock if and when it's disclosed or we get close to any date where he can
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sell because my guess is he's using that stock and I don't know if he has to disclose this to
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guarantee uh his ability to raise the 175 million he has now but this guy is going to sell most or all of it because
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he's going to look and go there's nothing here there he's going to decide he's going to
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he knows there's nothing there and then what happened with the meme stocks is everyone together they say let's take
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over the castle we can do it we can kill these short Sellers and they do it and then they look at each other and they
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fall asleep and they go I need to get out of here before there's a rush out the door that's right the and they're
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all looking at each other and there's only one person they're looking at here and it's the following when can Donald
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Trump sell MH and when does he sell I I I just think this is going to be so this is
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going to be such a case it's his next criminal case or his next civil case um where he's going to be sued for doing
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whatever he's doing and there'll be emails everywhere because they're so clsh at their
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corruption