DemocracyMattersALot , to random
@DemocracyMattersALot@mstdn.social avatar

LOL. Get out while you still can!

Trump Media & Technology Group Corp. Announces SEC Effectiveness of Amended Form S-1

https://finance.yahoo.com/news/trump-media-technology-group-corp-203000593.html

obtener , to random
@obtener@mastodon.world avatar

DJT shares tumble 13% as Media stock -off accelerates

https://www.cnbc.com/2024/06/18/djt-shares-tumble-13percent-as-trump-media-stock-sell-off-accelerates.html?__source=androidappshare

DemocracyMattersALot ,
@DemocracyMattersALot@mstdn.social avatar

@obtener

DemocracyMattersALot , to random
@DemocracyMattersALot@mstdn.social avatar

LOL. DJT down 20% today.

Nonilex , to random
@Nonilex@masto.ai avatar

…fresh from a merger w/a cash-rich … Trump’s co jumped on its 1st day of trading on the Tues, giving the co an estimated market value of ~$8B…

The biggest beneficiary…has been , who owns about 60% of , making him the largest shareholder. His stake in the co — the parent of TruthSocial, the online platform that is Trump’s main megaphone… — is worth ~$4.6B on paper.

https://www.nytimes.com/2024/03/26/business/trump-media-stock.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=c-cb

YusufToropov , to random
@YusufToropov@toot.community avatar

So this is important: How could run a stock involving that would generate the $500 million he needs to post bonds and appeal his civil case losses. (via electoral-vote.com)

Please .

@DemocracyMattersALot

Trump needs to raise something in excess of half a billion dollars very fast to post a bond so he can appeal his losses in civil cases and the Letitia James case. TruthSocial is owned by the Trump Media & Technology Group (TMTG). The company's owners, mostly Trump himself, want to merge it with the Digital World Acquisition Corp. (DWAC). The latter is a special purpose acquisition company (SPAC). The DWAC stock is traded on the NASDAQ. Late last week, the SEC signed off on the merger. The stockholders of the two companies will vote on the merger this week. If it is approved, the companies will merge and Trump will own 69% of the new entity based on his 79 million shares of the merged company. His share will be worth about $3.8 billion, based on the closing price Friday. We are not experts on SPACs, but our gut feeling is that a company whose only actual asset (other than a bank account) is Trump's boutique social media platform might not be worth $5 1/2 billion. Remember, this is a publicly traded company and is expected to make a profit. The Truth Social app has been downloaded about 1 million times, but the company has never turned a profit. It has made a cumulative loss of about $31.5 million. Owning stock is not like owning cash. To convert stock to cash, you have to sell it.... Trump might be able to dump a small quantity of stock fast enough to raise bond money before anyone caught on.
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