The Walking Eagle thread

I am conflicted about this.

Yes, it is absolutely crooked as fuck. But he tested the fences in 2016 over the issue of a president having ongoing public business interests and was told to carry on. So this is the most understandable thing there is…a ready made mechaism for quid pro quo. You buy up my stock and inflate the price and I’ll drop my threats against the other company that makes a big chunk of your portfolio.

There is also the reality that as a meme stock its price has to collapse at some point, and he is required to hold his shares for 6 months (I think) before he can sell. Unless of course if the board allows him to sell early, which they will. The people who will get had at that point when their investment collapses will not be very sympathetic characters.

What makes this different is that he has not hitherto dabbled with his unique brand of grift in areas regulated by the SEC. In this case, I think he may have outsmarted himself pumping up the initial value. The interest expense is non-cash, this is basically a NASDAQ-listed NFT. All the headlines right now are about the huge loss, but it is just bullshit value now being revealed as bullshit, not a real loss at all. But with a momentum stock, that becomes really problematic - and puts the Board he expected to rubberstamp his early stock sales in an awkward regulatory position.

Murkier and murkier…

1 Like