Donald Trump unlocks potential $3bn windfall after social media Spac deal
Company behind Truth Social site will list on Nasdaq with the ticker symbol DJT next week
https://www.ft.com/content/b7063e91-c94d-4dee-ba68-e1b60892588e
Shareholders of his Truth Social platform have voted to take the company public
research firm Similarweb estimates that Truth Social had roughly 5 million active users in February of this year — including mobile users as well as website visitors.
@ecksmc There's no universe in which this grifting career criminal should be permitted to list anything on the fucking stock market.
OH DEAR. THIS POST WAS SET TO SELF-DETONATE 💣 💥 🔥
Ą̷͇̀l̵̩̓̕l̸̩͘ ̸̭̪̈́ť̷̝̍̆h̶̡̛̰̯̏͌a̷͕̞͋̂t̵̩͙͑̈́͝'̵̛̍́ͅͅş̴̬̱͝ ̷̗̊͠l̵͚̕͠ē̸̻͓̐͝f̷̧͙̀̑͝t̶͓̓͊̚ ̶̜̱̓͌́a̴͉͊r̶̡̩͛̀é̵̦̞͕ ̶̮̾ṫ̷̡͈̍ḧ̸̛͍́̊e̴̫̅ş̶̥̰̓e̴̟̪͌͂̇ ̷̞̅͊̚h̷̰͕͈͂e̶̡̹̜̚ŗ̸̗͈̾̇e̴̩̍͐ ̷̪͉̩̀a̵̡̱̐͑͝s̴͎͖̈́h̸͈͌́͜e̴͕̝̐̌ś̶͓̆ͅ.̵̩̉ ̵̱͊͑̀
@th3j35t3r ikr it's bizarre to say the least
if he sells some or all his shares to raise money investors will suffer BUT having his son, Don JR, on the board along with others from his WH Admin i see the sale of his shares happening before the 6mths lockdown period
i'm not a "shares" or "market" expert though lol just a hunch on what i read
@ecksmc @th3j35t3r
Two words: Short Sell
@ecksmc @th3j35t3r Apparently 11% are already doing just that.
The stock market isn't like voting but people do "vote" with their money. I question if there are enough MAGA devotees with enough money in the stock market to keep this one going. Trump's cash donations have fallen in recent weeks. A #BINO indeed.
@ecksmc doesn’t it take a bit of work to get listed?! I thought the exchange does research on the financials to deem it worthy to be listed?! I thought you just can’t say ‘We are public!’ on Monday and bam you’re listed on Tuesday.
@WatchLover679 no idea
Investors approved plans to take Trump’s social media platform public on Friday, netting the former president a paper fortune of $3bn only
Trump’s supporters banded together to boost shares in Digital World. The stock has rallied by some 145% since the turn of the year, boosting the firm’s value to about $6bn.
The company will now trade on the stock market as Trump Media & Technology Group under the stock ticker “DJT” – Trump’s initials.
@ecksmc lol… they are going to lose a lot of money. I guess it’s their alternative to GoFundMe… since gofundme said you can’t do that fund. tRump and early investors are going to clean up. Idiots
Seems a bit inflated to me. 3 billion for 5 million users. If my math is correct, that would make CoSo's 168,000 users worth over 100 million.
We'll see what the open market does to the stable genius :)
@ecksmc "The former president is subject to a lock-up agreement that prevents him from selling his shares for six months"
Not much help to him now unless a lender is willing to accept them as collateral, assuming that's legal.
@Coctaanatis having his son, Don JR, on the board along with others from his WH Admin i see the sale of his shares happening before the 6mths lockdown period
he could get a workaround via them
May every one of his supporters invest every dollar they have left in the IPO...and then LOSE IT ALL as it crashes
May they all go broke from sucking up to their orange charlatan idol
I have given up any compassion for them. They deserve the worst case scenario...just like the "true Believer" Nazis did
Julian Klymochko, founder and CEO of a Spac-focused fund at Accelerate Financial Technologies, said Digital World’s price rise was “not due to the underlying fundamentals”.
Truth Social “hasn’t really taken off”, Klymochko said. “At this point, it’s a meme stock. It’s really just a betting tool on the probability of Trump winning the election.”
yup invest now get back later 😆 it's Trump 101 where he takes but won't give back < to most anyway