Donald Trump’s Truth Social opened to considerably bigger than anticipated numbers in the stock exchange recently, however John Oliver still isn’t purchasing it. On Sunday’s episode of “Last Week Tonight,” the HBO host exposed the platform with a quite NSFW contrast.
Throughout his very first section of the night, Oliver discussed that $DJT has generally end up being a “meme stock,” and mentioned that it’s being pressed on social networks precisely as other meme stocks have– with actual memes. One that especially happy Oliver was a gif of an eagle-shaped erection.
“Truth Social is sort of like a penis, because a great deal of unfortunate guys on the web invest their time lying about how huge it is, and what it can do for you,” he joked.
Speaking seriously on the subject, Oliver described that Truth Social actually isn’t lucrative in execution.
“You must understand, the financials for the business are a wreck,” he stated. “It’s lost $57 million given that its beginning, and will not launch user information, despite the fact that that’s the crucial metric for social networks business. It likewise needed to re-file its monetary declarations with the SEC after it put its profits in the incorrect line in an Excel spreadsheet.”
He included that the only factor the stock is doing so well is due to the fact that “Trump fans think purchasing it is a method to all at once own the libs, offer Trump cash and, they ‘d argue, earn a profit themselves.”
Oliver compared the boom in Truth Social’s stock to that of GameStop and AMC Theaters, however explained a crucial distinction, a minimum of in the previous.
“The GameStop motion was at least nominally about wresting monetary power away from sh– ty abundant assholes, and restoring it to the little guy,” Oliver stated. “Whereas this motion has to do with funneling the little guy’s cash straight to the sh– tiest abundant asshole there is.”
The current episode of “Last Week Tonight with John Oliver” aired on HBO on Sunday and is streaming on Max.