Why on earth is Wall Street valuing Donald Trump’s little social network at $7 billion despite having few users, scant revenue and tremendous losses? This week on “How We Got Here,” Max and Erin take stock of how wonky and meme-ified investment markets have become, what this means Trump’s legal bills, and why “DJT” shares would never be this high if not for Netscape and GameStop.

SOURCES

Trump Media’s Business Doesn’t Matter - Bloomberg

Pump and Dumps Are Legal Now - Bloomberg

Jonathan Lebed's Extracurricular Activities - The New York Times

Trump Media stock plunges as 2023 Truth Social loss put at $58 million

Opinion | ‘Dumb Money’ and the Meme Stock Phenomenon - The New York Times

Meme Stocks Are Back. Here’s Why Wild Trading May Be Here to Stay. - The New York Times

Trump Stock Takes Washington by Storm - WSJ

Who Is Fueling the Surge in Shares of the Trump SPAC? - WSJ

Trump’s Dazzling Truth Social SPAC - WSJ