https://duckduckgo.com/?q=Mastadon+social+network&t=ffab&atb=v1-1&iar=images&iax=images&ia=images
/cdn.vox-cdn.com/uploads/chorus_image/image/54068551/Screen_Shot_2017_04_04_at_8.10.30_AM4_4.0.png)
Posted on 12/02/2021 4:52:23 AM PST by redguyinabluestate
Former President Donald Trump’s new social media company appears to have missed the November deadline it set to release an invitation-only beta version of “Truth Social,” its purported alternative to Twitter.
There have been no official announcements of a beta launch, nor have there been any sightings or images of an operational platform online.
At the same time, the price of the stock of Digital World Acquisition Corp. – the SPAC company that plans to merge with Trump’s social media firm – has dropped dramatically since its share price exploded when the deal was announced in late October.
Shares of DWAC, which had been trading as high as $175 per share right after the merger was disclosed, were trading at around $44 per share on Wednesday.
Late Wednesday afternoon, Reuters reported that Trump’s new company is trying to raise up to $1 billion by selling shares to hedge funds and family offices at a price higher than its initial pre-merger valuation of $10 a share.
“Trump Media is now looking to secure a so-called private investment in public equity (PIPE) that would value Digital World shares closer to their recent price, currently hovering around $40,” Reuters reported, citing anonymous sources.
The value of DWAC shares spiked during the final 10 minutes of trading Wednesday, jumping from $38.35 at 3:50 PM to a high of $51.02 just after 4:00 PM.
It is not unusual for tech companies to miss their own deadlines for product releases.
(Excerpt) Read more at cnbc.com ...
Nope - public release isn’t due till Feb. Per announcements yesterday evening they’ve been showing the Beta to the PIPE investors they’ve been approaching. Said to look very much like Twitter.
My thought and then I see it at the end of the excerpt. Okay.
“WHAT TO WATCH FOR
According to Reuters, investors were shown a demo version of the TRUTH Social app, which appeared like a Twitter feed. Twitter was Trump’s preferred social media platform during his presidency, and he regularly sent out dozens of tweets per day, before he was booted from the platform.”
from this Forbes article: https://www.forbes.com/sites/nicholasreimann/2021/12/01/trump-media-company-reportedly-seeks-to-raise-1-billion-after-whiffing-on-target-date-to-launch-website/?sh=1b87c096329d
Perhaps the authors and CNBC weren't on the invitation list.
They’ve also got some screenshots on the TMTG page - click the video about 1/2 way down:
price of DWAC shares were up yesterday while the market indices were in the red ...
I’m hoping for a big pop this morning as I have some calls due tomorrow :)
Therefore, President Trump has a beta version and his team was showing it private investors in November.....
I’m hoping for a big pop this morning as I have some calls due tomorrow :)
—
it should with the other news from yesterday afternoon
(PIPE at least $30 a share and not $10)
https://duckduckgo.com/?q=Mastadon+social+network&t=ffab&atb=v1-1&iar=images&iax=images&ia=images
trading at about 54 pre-market ... what strike are your calls?
I bought about a month ago their at $61. So good news: not much more to go to get clear. Monday I was WAAAAAY down. Possible great news: if it pops like it did in Oct (fingers crossed but doubt it) then I’ll be a multi-millionaire LOL.
I also have some 12/17s at 45.
Of course it is a gamble. It can go crazy or flop. Personally I can see it doing very well and I hope you strike gold!
But the funny thing is that the article stresses the price drop, but doesn’t mention that the stock is doing better than Twitter. LOL
DWAC-—$50.68+6.33 (+14.27%) is up today
Exactly - I have actual shares as well and those I’m holding onto no matter what. The calls were just a gamble that I thought was pretty safe as they were $5 in the clear when I bought them, but about 2 weeks ago they went south on me.
And how many tries did it take to get the Obamacare websites functioning properly. This is with the economic backing of the US government.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.