Trump's #lawsuit claims that Litinsky & Moss, who were both contestants on Trump’s reality-TV show “The Apprentice,” mishandled an attempt to take Trump Media public several years ago, allegedly putting the whole project “on ice” for >1½ yrs.
[how much you wanna bet he trying to find a way around the 6 month lock up provision?]
Yes, the company went public. No, it is not a financial success—or even a lifeboat.
Debuting on the charts w/a “DJT” ticker, #TrumpMedia saw a 55% surge in valuation right after markets opened.
Huge influx of cash, right? w/Trump holding ~79M shares, equating to 58% of available stock, the #SPAC debut balloons his #NetWorth by nearly $5B; there were ~136M shares outstanding post-merger.
…none of this is going to help a cash-broke #Trump now or anytime soon. Per terms of the merger, Trump is forbidden from selling shares for ≥6 months; he could request a waiver from the board, which would no doubt bless any desire of his. But if he were to gain that waiver & try to sell his shares now? Well, those retail investors are planning to hold on to their shares until the #election. They’re literally banking on a Trump reelection to push the #stock through the roof so they can get rich…
…that’ll only work if #Trump has confidence in his #platform & doesn’t dump a bunch of #stock, or even give a hint he’s thinking of doing such a thing (like by requesting a waiver), which would scare smaller-scale #investors, piss off #JeffYass, & send #TrumpMedia’s valuation plummeting.
…Does Trump have that kind of confidence in his platform?…he still needs money, fast, & not just because he might not have enough liquid cash to even cover the reduced $175M #bond he needs to pay off by April 4.
So this is important: How #TRUMP could run a stock #scam involving #TruthSocial that would generate the $500 million he needs to post bonds and appeal his civil case losses. (via electoral-vote.com)