There are 3 things you need to know about Trump
The merger of Trump Media and Digital World is going to go public — a battle the past, the present, the future, and the future
This possible fortune couldn’t come at a better time for the former president. Trump is struggling to put up cash to cover a $454 million judgment against him in the State of New York as part of a civil fraud case. Trump owes $83 million to E. Jean Carroll after he was found to have sexually abuse her in a Bergdorf-Goodman Dressing Room in the 1990s. The January case used Trump’s posts on Truth Social as evidence.
Trump Media is accomplishing that by merging with an existing shell company called Digital World Acquisition Corp. It’s a process that lets companies skip the hoops of initial public offerings.
Like that of the former president, the listing of Trump Media has been a convoluted tale marked by investigations, lawsuits and general chaos.
The shareholders of Digital World Acquisition voted on Friday to combine with Trump Media and Technology Group. The vote is the culmination of a years-long saga regarding the merger of Trump Media with a publicly traded company. The company will change its ticker symbol to DJT when it goes public.
There are no guarantees that there will be enough shareholders for the merger to pass because Digital World has not been able to find enough shareholders to vote in previous key votes.
And the process to this point has been far from easy in other ways. Digital World has also faced scrutiny from the Securities and Exchange Commission, and it has also faced lawsuits from key shareholders that are still pending
Truth Social, a Meme, or How the Digital World Has a Censor: A Tale of Two Robotic Stocks
Analysts agree those kinds of valuations are far removed from the actual value of Trump Media. In the first nine months of last year, Truth Social had $3 million in revenue and losses of $50 million.
The company has become a meme stock, where its performance seems tied more to Trump’s political prospects than the actual financial performance of the company. The price may change before Trump has the chance to cash out.
The stock markets have seen clear examples of this in recent years, like retailer Gamestop or movie chain AMC, both of which have caught Wall Street by storm by experiencing spectacular rallies when the epidemic hit.
Jay Ritter, Cordell professor of finance at the University of Florida says Digital World is not much different from the craze that enveloped those two stocks.
The professional investors are looking for opportunities to profit from the deal. Matthew is the chief executive of Tuttle Capital Management.
“While fundamentally. I don’t get it, I’m going to trade it because it’s going to move,” Tuttle says. “It’s going to have a rabid following It’s going to be a fun stock.
Truth Social Is Going Public: The Story of a Man Narrated at a Livestream of the December 18th, 2018 Capitol Hill, Flare
Donald Trump’s shares are currently trading at an even higher value than many analysts think, making it difficult for a lender to justify loans to him.
On Rumble, more than 2,000 people watched a man dressed in a Jack Sparrow costume narrate the shareholder meeting in a livestream. The chat got going after the vote was passed. “THANK YOU JESUS!!!!!” read one comment from an account called CanAmPatriot17.
Truth Social looks nearly identical to Twitter, with some key distinctions. Instead of “tweeting,” users post a “truth.” A “retweet” is called a “retruth.” The site functions well and is mostly online, but it can be found with a somewhat active user base. But since launching in February 2022, after Trump was kicked off of mainstream platforms for inciting violence during the January 6 riot at the Capitol, the company has been mired in controversy.
The site is exactly what one might expect from a Trump-inspired social network. You can find groups dedicated to all kinds of conspiracy theories.
Source: Trump’s Truth Social Is Going Public
An Arbitrary Action against the Co-founding Partners of e-Arp Co-founders of Pfaffian Holdings
The company devised a plan to diminish the shares of its co-founding partners, according to a lawsuit filed by them in February. The two men, who are both former Apprentice contestants and shareholders in the company, said that the company needed to abide by a 2021 agreement that granted them the ability to appoint directors to the company’s board and other financial incentives.
