Discussion

• @drewharwell Drew Harwell on threads

  Update: Trump Media's merger partner saw its shares plunge 13% today.  Given Trump's stake, that's about a $457 million one-day loss.  And it's paper money; Trump can't sell his shares unless he gets a lockup waiver, which is very rare and could tank the stock even further. …

• @jbholston JB Holston on threads

  It will be astonishing and unsurprising if the Board OK's his early share sales and he dumps massively, tanking the price but extracting wads of cash along the way.

• @kevin.c.oneil Kevin C. O'Neil on threads

  Naive if you think it's the Board's option.  Other major investors and the investment bankers are the ones who demand the lockup.  Last thing they want to see is major sales of DWAC stock tanking its share price.

• @gtconway3 George Conway on threads

  I have been wondering the same thing.  I don't understand the valuation.

• @elizspiers Elizabeth Spiers on threads

  It's a proxy bet on whether Trump becomes president again.  If he does, the assumption is that he can corrupt it in all sorts of profitable ways.

• @drewharwell Drew Harwell on threads

  New: The Trump Media merger is a go.  Shareholders vote yes; could hit public stock market by Monday.  Trump will own about 60% percent of the Truth Social owner, which at a current share price would be worth about $3 billion. …

• @jw Josh Williams on threads

  News media is doing a really horrible job covering this.  There's not a bank in this universe that will give him a loan against that stock, nor can he sell it (it's locked up for six months without a waiver), and if he were to try to sell that much stock, the value would collapse…

• @chickenpuppet.bsky.social @chickenpuppet.bsky.social on bluesky

  This site doesn't have any revenues, let alone profits, how can you get a ten billion dollar valuation or whatever [embedded post]

• @julianklymochko Julian Klymochko on x

  Oof While we knew Digital World stockholders weren't the sharpest tools in the shed, some dope holding 4,939 shares of $DWAC redeemed the shares for $10.85 instead of selling at $37.00. This mistake cost them $130,000 You're fired [image]

• @charlie_savage Charlie Savage on x

  Has anyone written a good explanation for why people are willing to pay billions of dollars for part ownership of Truth Social? For all the articles I've read about the deal & lawsuits etc, I'm still confused about why its valuation makes any sense and would like to understand.

• @danprimack Dan Primack on x

  When the $DWAC SPAC merger passed today, Trump's paper net worth grew by $3.49 billion. Shares down over 10% since the merger passed, bringing the number down $363 million to $3.13 billion

• @intelligencer @intelligencer on x

  The vote to take Truth Social public is a huge win and one of the most successful SPACs ever, but it doesn't immediately solve Trump's bond problem in New York. http://nymag.com/...

• @danprimack Dan Primack on x

  $DWAC shares falling fast on the vote passage. Folks trying to get out. [image]

• r/Impeach_Trump r on reddit

  Trump is about to get $3 billion richer after deal is approved to take his company public.  But it won't solve his cash crunch|  CNN Business

• r/technology r on reddit

  Trump's Truth Social is going public after winning DWAC merger vote

• r/law r on reddit

  Trump Media, launched after an insurrection, faces rebellion of its own: Four lawsuits involving the founding boosters of Truth Social threaten …

• r/politics r on reddit

  Trump's social media company will go public after merger with shell company is approved