Posted on 09/02/2023 2:19:18 PM PDT by thegagline
When former president Donald Trump’s media start-up announced in October 2021 that it planned to merge with a Miami-based company called Digital World Acquisition, the deal was an instant stock-market hit. *** With the $300 million Digital World had already raised from investors, Trump Media & Technology Group, creator of the pro-Trump social network Truth Social, pledged then that the merger would create a tech titan worth $875 million at the start and, depending on the stock’s performance, up to $1.7 billion later. *** “Everyone asks me why doesn’t someone stand up to Big Tech? Well, we will be soon!” Trump said in a Trump Media statement that month.
*** Digital World is fast approaching a Sept. 8 deadline for the merger to close and has scheduled a shareholder meeting for Tuesday in hopes of getting enough votes to extend the deadline another year.
If the vote fails, Digital World will be required by law to liquidate and return $300 million to its shareholders, leaving Trump’s company with nothing from the transaction.
For Digital World, it would signal the ultimate financial fall from grace for a ***SPAC, that turned its proximity to the former president into what was once one of the stock market’s hottest trades. Its share price, which peaked in its first hours at $175, has since fallen to about $14.
*** Though Trump Media projected in a 2021 investor presentation that the site would have 41 million total users by the end of this year, usage estimates from Similarweb, a data firm that analyzes web traffic, suggest it is a long way from reaching that goal. According to Similarweb estimates, roughly 500,000 monthly active users in the United States visited Truth Social via its Apple and Android mobile apps in July, down from 600,000 in June.***
(Excerpt) Read more at washingtonpost.com ...
“Its share price, which peaked in its first hours at $175, has since fallen to about $14.”
Clearly, a buying opportunity.
All the best stocks peak in their first hours of trading…
Indeed it is. Pay attention.
Yep, it’s always a different story, but the ending is always the same.
BOHICA
If that's you stance, go ahead. Please share your transaction receipt.
I bought 10,000 shares on the 28th at 14
Why do we trolls post on FR?
24th
Got a transaction receipt you can share?
I tried to sign up with my Android and kept getting taken to a blank page for months.
When it finally was fixed, the website required an email AND phone number, just to sign up for the privilege of reading post.
The phone number requirement was a deal breaker. No way I should have to give up so much privacy just to READ blogs on a forum. No thanks.
why would I? take my word or don’t. The doomsdayers are fittin to find out who’s right though
The prospects for the deal are looking increasingly dim.
I agree. Unfortunately, I don’t think that this stock is shortable.
A fool and his candidate are even quicker parted when his campaign ceases to exist. Even as Donald John Trump continues to climb in the polls.
Ping
Don’t argue with a troll
I was just hopin’ he’d short it :)
The thing was rigged!
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.