The stock's value is heavily dependent on the actions of its followers, who may keep buying to inflate the price. This could be considered a complex way of giving money to the originator. The situation involves Trump donors and fans allegedly keeping the stock afloat. This behavior, including rumors of incentivizing purchases, potentially violates SEC regulations and could lead to shareholder lawsuits. The stock is described as a dangerous meme stock, with uncertainties around its trading. Even shorting the stock is cautioned against due to the risk of a short squeeze. It is advised to steer clear of the stock, as small purchases could significantly influence its price, making it highly volatile and unpredictable.
Kara and Scott discuss the fallout from NBC's Ronna McDaniel debacle, Reddit’s first week on the market, and Trump Media being a meme stock. Plus, Florida’s restrictive law for teens on social media, mifepristone’s fate in the Supreme Court, and the one-year anniversary of Evan Gershkovich's detention in Russia, Then, a listener question on…facial hair and thank you notes.
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