Gary has the wild story that is Truth Social, the new social media outlet from former President Donald Trump. Truth Social is the merger of a few different platforms. Gary believes this is an attempt to get a voice back out there since his banning from Twitter. What is wild is the crazy leaps and falls of the stock price since its announcement.
The stock started as a Special Purpose Acquisition Company (SPAC) which Gary has in the past warned people to watch their investments into. Most fall flat but there are a few exceptions. The stock was marked as DWAC in the market and shares started at 10$ and would rise to 52$ at the highest before closing at $45. Gary believes this to be normal but kinda shows the currently volatile nature of the market. This could be signs of a future bust in the market.
Day 2 of the market is where things got weird. The jump from 10$ to 45$ was erratic but the overnight change shocked the system. 125$ on the open. This caused a pause in trading then it started to trade at 151$ peaking over 172$. This meant that someone spent that money on the stock. But all good things must come to an end as the prices started to drop to 85$. It showed signs of a promising start but closing at 8 times the original is no small feat.
Investor’s Edge with Gary Kaultbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.
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