FYI there is a lockup on Trump Media stocks for 6 months because dumping the shares would defeat "investment-backed reasonable reliance" on the lockup.
He can't sell (or borrow against) the stock.
Jordan Belfort (played by Leonardo DiCaprio in The Wolf Of Wolf Street) went to jail for fraud about lockup stock. So did Hartley Bernstein.
JOURNALIST DO SOME RESEARCH before writing articles favorable to trump
Lock-up provision that prevents Trump from selling (or borrowing against) his $3B in shares in #DWAC (which will trade as #TMTG starting Monday for 6 months.
The lockup ends on the earliest of 3 dates:
a - 180 days from today (which is 9/18/2024)
b - the earliest day in the measuring period starting 150 days from today (8/19/2024) when TMTG stock trades above $12/share for at least 20 out of 30 days (which could be as early as 9/16/24)
(1/2) #politics
c - The date when all of TMTG's shareholders can sell their stock as part of a complete takeover of #TMTG.
Which could provide a loophole, if some well-capitalized individual or entity wanted to buy TMTG in its entirety. which is cratering in value right now. 😂
Trump cannot sell less than all of his shares, along with everyone else.
#DWAC #politics
(2/2)