XCR1250 Posted March 22 Share Posted March 22 https://www.washingtonpost.com/technology/2024/03/22/trump-mediamerger-vote/ Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted March 22 Author Share Posted March 22 BUSINESS NEWS TECH MONEY Donald Trump could get a $3 billion boost from Truth Social's shell-company merger The cash infusion could come at a time when the former president really needs the money By Melvin Backman Published4 hours agoUpdated3 hours ago The backside of Donald Trump Photo: Scott Olson (Getty Images) Shareholders of the shell company that plans to acquire Donald Trump’s Truth Social have approved the takeover of the social media firm, which could mean a multi-billion dollar windfall for the former president as he tries to return to the White House. Digital World Acquisition Corp (DWAC) is what’s known as a special purpose acquisition company, or SPAC. Since going public in 2021, its special purpose has remained the eventual acquisition of Truth Social, which got its start after Trump got kicked off other social media platforms following his posts surrounding the Jan. 6, 2021 attack on the Capitol. (Those sites have restored his access, though he still prefers to use his own.) When the deal is complete, Trump would own about 60% of a post-SPAC Truth Social. Based on DWAC’s $40 share price, his stake would be worth more than $3 billion as soon as next week, The New York Times reports. It’s not clear that investors are actually interested in the business of Truth Social itself, since the company is not doing well and needs the $300 million it will get from the SPAC merger. Still, DWAC’s shares have become a lot more valuable this year, especially after Florida Gov. Ron DeSantis, one of Trump’s top challengers for the 2024 Republican presidential nomination, dropped out of the race. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 22 Share Posted March 22 (edited) Shell company Edited March 22 by Mainecat Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 Peanuts 🥜 for the GOAT 🐐.....but I'm happy for him . The corrupt Justice system has been running him through the ringer. Quote Link to comment Share on other sites More sharing options...
akvanden Posted March 23 Share Posted March 23 It’s a meme stock. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 9 minutes ago, akvanden said: It’s a meme stock. Yup.... that's where this came from: 1 Quote Link to comment Share on other sites More sharing options...
Cat45 Posted March 23 Share Posted March 23 49 minutes ago, Mainecat said: Shell company Like the 20 biden family shell corps? 1 1 Quote Link to comment Share on other sites More sharing options...
Doug Posted March 23 Share Posted March 23 After sorting through all the shell companies they identified the main guy that's coordinating the deal with the Soviets. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 23 Platinum Contributing Member Share Posted March 23 So he can pay his judgements Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted March 23 Platinum Contributing Member Share Posted March 23 The New York Times reports. It’s not clear that investors are actually interested in the business of Truth Social itself, since the company is not doing well and needs the $300 million it will get from the SPAC merger. Quote Link to comment Share on other sites More sharing options...
akvanden Posted March 23 Share Posted March 23 (edited) 59 minutes ago, ViperGTS/Z1 said: Yup.... that's where this came from: judging by that reply, you’re not familiar with meme stocks. A company with a few million in revenue is not worth billions. Edited March 23 by akvanden Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 3 minutes ago, akvanden said: judging by that reply, your not familiar with meme stocks. A company with a few million in revenue is not worth billions. So how are they getting billions... Is the article wrong Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted March 23 Platinum Contributing Member Share Posted March 23 6 minutes ago, ViperGTS/Z1 said: So how are they getting billions... Is the article wrong Its means its bullshit just like the value of Trumps properties. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 3 minutes ago, Steve753 said: Its means its bullshit just like the value of Trumps properties. Yeah like Mar-A-Lago worth 18 million get your head out of the sand or never mind stick it in deeper Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 (edited) As long as the GOAT 🐐 benefits I'm good with it .....could really care less how much value Truth stock is worth..... It's skyrocket over 100% gain this year.... It's amazing how many of you guys have such issues with successful people and billionaires It really is Edited March 23 by ViperGTS/Z1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted March 23 Platinum Contributing Member Share Posted March 23 5 minutes ago, ViperGTS/Z1 said: Yeah like Mar-A-Lago worth 18 million get your head out of the sand or never mind stick it in deeper It's only worth what someone is willing to pay for it Quote Link to comment Share on other sites More sharing options...
akvanden Posted March 23 Share Posted March 23 13 minutes ago, ViperGTS/Z1 said: So how are they getting billions... Is the article wrong Because it’s a meme stock, the same way investors from wall street bets artificially jacked up the prices on GameStop and AMC only to have it come crashing down again. When this stock becomes publicly traded, people will try to cash out as quickly as possible to try and take advantage of the artificially high prices. It will be worthless. Certainly you can understand why a company with only a few million in revenue with no roadmap for growth isn’t worth billions of dollars. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 24 minutes ago, akvanden said: Because it’s a meme stock, the same way investors from wall street bets artificially jacked up the prices on GameStop and AMC only to have it come crashing down again. When this stock becomes publicly traded, people will try to cash out as quickly as possible to try and take advantage of the artificially high prices. It will be worthless. Certainly you can understand why a company with only a few million in revenue with no roadmap for growth isn’t worth billions of dollars. It still sounds like Trump will benefit greatly from it. And just who is running up these prices and why? Quote Link to comment Share on other sites More sharing options...
akvanden Posted March 23 Share Posted March 23 1 minute ago, ViperGTS/Z1 said: It still sounds like Trump will benefit greatly from it. And just who is running up these prices and why? He has a 6 month lockup period, he won’t be able to do anything. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 3 minutes ago, akvanden said: He has a 6 month lockup period, he won’t be able to do anything. And just why did they decide to run this stock up?...... You're not making a whole lot of sense to me 1 Quote Link to comment Share on other sites More sharing options...
akvanden Posted March 23 Share Posted March 23 4 minutes ago, ViperGTS/Z1 said: And just why did they decide to run this stock up?...... You're not making a whole lot of sense to me “Meme stocks describe the shares of companies that have gained a cult-like following on social media, which can influence share prices.” cult like following - sound familiar? Enjoy. https://www.investopedia.com/meme-stock-5206762 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 2 minutes ago, akvanden said: “Meme stocks describe the shares of companies that have gained a cult-like following on social media, which can influence share prices.” cult like following - sound familiar? Enjoy. https://www.investopedia.com/meme-stock-5206762 Sounds like good news for Trump then...... This should go viral right up until the election especially if he wins... he'll be able to cash out Quote Link to comment Share on other sites More sharing options...
akvanden Posted March 23 Share Posted March 23 2 minutes ago, ViperGTS/Z1 said: Sounds like good news for Trump then...... This should go viral right up until the election especially if he wins... he'll be able to cash out I’m sure a lot of cult followers will be willing to artificially prop it up so that Trump can pull the rug out from under them rendering their investment useless. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 23 Share Posted March 23 There is not liquid assets. Do any of you geniuses remember the dot com crash? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted March 23 Platinum Contributing Member Share Posted March 23 4 minutes ago, akvanden said: I’m sure a lot of cult followers will be willing to artificially prop it up so that Trump can pull the rug out from under them rendering their investment useless. Yup....the CULT is yuuge. Maybe I should jump in and try to time it right ....what do you think? Quote Link to comment Share on other sites More sharing options...
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