Joe Rogan, a prominent podcaster, has joined the most recent startup, Gettr (GETTR), gaining all the attention. But is the GETTR stock worth investigating?
The social networking site is commonly likened to Twitter (NYSE: TWTR) due to its comparable appearance and functionality. The application has a follower-like design in which users share ideas and collect followers.
However, GETTR promotes the concept of free speech and opposes censorship. The decision comes as Twitter faces criticism for attempting to block specific content on its platform. Specifically, the permanent suspension of former President Donald Trump caused investors and activists to become agitated. Continue reading to understand more about GETTR stock and the platform's capabilities.
If you are active on social media, you have likely encountered references to the platform GETTR. What exactly is GETTR? A former senior advisor to President Donald Trump has started a brand-new social media platform. Gettr is categorized as a conservative media platform. Gettr is described as a "non-biased social network" and claims to be an alternative to the major social media platforms, with a mission statement that includes "fighting to end the culture of our time, encouraging good sense, defending the freedom of speech, and challenging the monopoly of social media and establishing an open market for ideas."
You can probably predict the outcome without bringing politics into the discussion. GETTR has been described as an exact replica of Twitter, including its functions and user interface. The site was formally released for beta testing in 2021 and is now available to users worldwide. It is likely not a coincidence that the introduction of the site coincided with Trump's continued ban from Twitter and Facebook.
GETTR is defined as a predominantly conservative and right-leaning platform yet is available to everyone. The service got off to a shaky start as internet trolls, and Trump opponents posted garbage on the platform. There were even multiple cyberattacks that compromised the accounts of several prominent users. When podcast presenter and comedian Joe Rogan joined the site, GETTR became popular. Rogan's statements after joining indicate that he is not a huge fan of GETTR. Nonetheless, Rogan's presence has boosted GETTR, which currently boasts over 3 million users.
Why did Joe Rogan join Gettr?
Joe Rogan created a platform account in case he is banned or suspended from Twitter. On January 2, Georgia, Republican Representative Marjorie Taylor Greene was permanently removed from Twitter, and multiple violations of distributing falsehoods regarding COVID-19 led to her suspension. Rogan has been accused in the past of distributing false information about COVID-19 on Twitter, and Rogan may believe that his Twitter account is at risk as well.
History of Gettr
From 2016 through 2021, Jason Miller worked as the top adviser and spokesperson for President Donald Trump.
Miller departed Trump's staff in June 2021 to become CEO of an undisclosed internet business that was eventually revealed to be Gettr, a new social media platform. In June of 2021, Gettr was included in the Apple App Store and the Google Play Store, and Gettr's beta version was released on July 1, 2021.
On July 4, 2021, the social networking platform was launched officially, and the platform claimed to have more than 500,000 users on its opening day. In August of 2021, it was reported that former President Donald Trump was interested in investing in Gettr. However, this has not occurred due to Trump's ambition to launch his own social media platform, Truth Social.
In November of 2021, there were three million overall users and an average of four hundred thousand daily users on the platform. In November of 2021, Gettr attracted 500,000 Brazilian users. When Joe Rogan and Robert Malone joined Gettr in January 2022 and Congresswoman Marjorie Taylor Green's ban from Twitter, the platform gained over 500,000 new users.
What have individuals stated about GETTR?
Based on acclaim, four out of five stars have been assigned to GETTR on the Apple store. One user wrote: "Free speech platform for patriots of a common world liberated from the Chinese Communist Party."
"Unfortunately, Getter appears to be one of the very few venues on which you can speak the truth."
It is an excellent alternative to the large tech oligarchs who limit your speech and only permit you to read and write what they want you to.
Another review stated, "No one would suspend me at this point." Twitter has blocked me multiple times since I said something concerning the pandemic's source.
"This application appears superior to Twitter. Hopefully, it is administered by a genuine free group, and I could once again enjoy genuine free expression. Thanks!"
A third remarked, "Gettr is an easy and user-friendly social media application." I have no difficulty establishing an account.
"I can follow users that I wish to follow in a matter of minutes.
I hope Gettr will be able to compete with Twitter and provide social media tools with healthy competition.
Why is GETTR stock on the rise?
Joe Rogan's incorporation into the free speech app, GETTR, is the most noteworthy development around the free speech app. Rogan uploaded his new profile on Twitter with the comment, "Join me on GETTR."
Following the article, GETTR said that over 700,000 new users had joined the app, bringing the total to over 4 million. Even the corporation referred to it as the "Joe Rogan Wave" and a "huge migration" from internet giants.
In addition, Jason Miller, CEO of GTTR, stated that "GTTR's momentum has been steadily growing" and that the migration of users "represents a significant turning of the tide." Before adding, "Silicon Valley has been sent a clear message."
Social media firms continue to enforce their regulations, prompting this action. Last week, for instance, Twitter suspended Representative Marjorie Taylor Greene for violating the platform's disinformation policy. In addition, YouTube removed one of Joe Rogan's interviews with vaccine researcher Dr. Robert Malone. Therefore, the transfer should not come as a complete surprise.
In addition, a recent story from Business Insider details Rogan's accusation that the app artificially increased his number of followers. He even went so far as to remark, "It's not genuine."
The attractiveness of GETTR is supposedly its casual attitude to moderation, which is a common gripe among right-wingers over mainstream social media, despite the fact that they appear to thrive there. However, GETTR leaves the door open for content that even the majority of MAGA supporters would likely find offensive. Ali Breland of Mother Jones claims that the platform's first day online was swamped with hentai and nasty photoshops of Hillary Clinton's head on a naked woman's body. Users are also attempting to hijack the #QAnon hashtag with pornographic content and an image of a pig with enormous balls. Although GETTR's terms of service state that it reserves the right to remove obscene and pornographic content, it does not appear to employ a similar automatic method to censor or remove pornography, as is the case with Twitter and Facebook.
Should I Utilize the GETTR?
It is entirely up to your personal preference, and this article will not discuss politics. GETTR appears to be battling with its identity, in my perspective. On the one hand, it asserts that all are welcome. On the other hand, though, it promotes bigotry and right-wing conservatism. This isolates a substantial portion of its total addressable market and may ultimately ruin the website. Regardless of political affiliation, the majority of individuals I know do not want to be on a platform with this explicit information. GETTR must clean its filters and create a secure environment for users of all backgrounds. I will not use GETTR as a social media platform till then.
GETTR is a privately held corporation, so you cannot purchase its stock at this time. An IPO could occur in the future if the platform continues to acquire traction despite the company being still extremely young. Given the success of several social media services on the stock market, this is an excellent method for raising extra funds. If GETTR is similar to Twitter, the platform will also be difficult to monetize. Keep a lookout for a GETTR IPO in the future, but there is currently no opportunity to invest in the company.
There are rumors that the corporation would float its shares for public investment, but nothing has been confirmed. Given the interest in other "free speech" equities over the past year, it would not be surprising to see GETTR stock become available for purchase soon. Until then, though, investors will have to await the company's decision.
Due to the fact that Gettr is not currently a publicly listed social media platform, there is no price to report for a single stock of the company.
The most accurate method for determining an IPO price would be to compare it to the prices of comparable social media companies. Using the initial public offering (IPO) prices of firms at the same price, we can estimate a price range for the company's IPO.
Expectations Regarding GETTR
Given that the IPO market experienced a record-breaking year in 2017, I anticipate that GETTR will list shares at some point. GETTR stock could become publicly listed under a variety of circumstances.
Initially, it can go public through a SPAC. If a company that writes blank checks merges, it can assist GETTR in raising capital to fuel its expansion.
Alternatively, the social media business might conduct a conventional IPO. They might potentially raise funds in such a circumstance, but it is typically a more costly option. Nevertheless, many tech equities are declining, so investors may be waiting for calmer conditions.
However, put GETTR stock on your watchlists because there will be a great deal of interest if it comes to market.
There are currently no possibilities to invest in Gettr. As the platform expands, it may become public in the future, allowing the general public to invest in it. You can invest in a number of famous social media platforms on the stock market. Clearly, some are superior to others, but the vast majority have proven to be profitable investments over time. Ad income, premium subscriptions, and in-app transactions are methods of monetization that social media firms need to develop. Let's examine some of the most lucrative social media companies to invest in.
Meta Platforms (NASDAQ: FB)
Regardless of your opinion on Meta Platforms or Facebook, the stock has become a runaway train. Not to worry if you missed the initial public offering! Facebook stock takes time to gain traction and has had significant setbacks along the way. If you were able to endure the rough start, your initial investment is currently up 768 percent. Not bad at all!
Facebook may be an unpopular corporation, but its profitability and success are undeniable. It also owns Instagram, a major content platform, and Whatsapp, the global leader in instant messaging.
Now, Facebook is prepared for its new phase since its name was just changed to Meta Platforms. This is a reference to the firm embracing the Metaverse as the further iteration and evolution of the internet as we know it. If you have any worries about the stock, consider that it was the fastest firm to ever reach a market capitalization of $1 trillion. This stock should continue to appreciate in the near future.
Digital World Acquisition Corp (NASDAQ: DWAC)
If you believe this is a humorous name for a corporation, you are mistaken. The SPAC shell corporation is introducing the new social media platform Truth Social to the general market. What is the importance of Truth Social? It is a platform that former President Trump built. So many believed that this platform would do what GETTR is achieving now. Which conservative social media platform is the most suitable?
Truth Social is also expected to resemble Twitter in appearance and operation. It will be intriguing to observe how Truth Social and GETTR coexist once the latter is released. Regarding the stock, it has gained meme stock status. Digital World Acquisition Corp gained over one thousand percent at its all-time high and is currently up over one hundred eighty-three percent over the past year. The valuation of a SPAC stock at over $70 per share demonstrates the impact of social media emotion and hype on a stock. When Truth Social is released, what will it be like? According to initial reports, this market resembles Twitter and GETTR and appears to be redundant.
Twitter (NYSE: TWTR)
Twitter, the platform GETTR is designed for, is the global leader in real-time news and information. Longtime Twitter CEO Jack Dorsey has resigned in order to focus on his other startup, Block (NYSE: SQ). Former Chief Technology Officer Parag Agrawal succeeded Jack Dorsey to the displeasure of investors. Following the change in leadership, Twitter's stock price has decreased by approximately 11 percent. If you were an early investment in Twitter, you have certainly not experienced the same returns as Facebook's stock. Since its initial public offering, Twitter shares have declined 7.7 percent.
However, there is no questioning Twitter's platform's success. It has over 350 million active users each month who send over 500 million tweets every day. Twitter is notorious for its 140-character tweet limit and lack of an edit function. Investors should not be too concerned about GETTR stock eroding Twitter's market share, as the platform has become a viable source of global communication.
Snapshot (NYSE: SNAP)
Snapchat is a platform that allows users to record 60-second movies and transmit them to their friends. When these videos are viewed, Snapchat automatically deletes them permanently, which is one of its best features. Obviously, this has made Snapchat a popular platform for filthy content since users can hide behind the knowledge that their content will be removed forever. Snapchat's popularity has increased over the years, but it has recently been eclipsed by the popular new app TikTok.
Yet another blow to Snap? Following the implementation of Apple's app tracking security features, the stock took a significant plunge. Apparently, these new measures had a significant impact on its advertising revenue, although this was not felt on Facebook or Twitter. Shares of Snap were trading in the mid-$80 range earlier in 2021, but they are currently trading below $40. This represents a return of over 40 percent from the stock's initial public offering in 2017.
Ensure you understand the distinction between day trading and investing before trading stocks like Snapchat and GETTR.
Conclusion
As Twitter increases its filtering, GETTR could gain popularity. Due to their contentious tweets on the microblogging platform, many prominent figures, including Mr. Trump, were banned. Mr. Rogan will continue to use Twitter, but due to his skepticism over censorship, he has moved to GETTR. According to GETTR's website, the social media platform was growing in popularity among conservatives and was established to oppose censorship.
GETTR asserts that it will restore social media users' freedom of speech and will stand up to the large internet corporations to defend the right to free speech and battle political censorship.
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