John Cassidy writes why Donald Trump’s Truth Social stock is grossly overvalued, and why Trump can’t sell it immediately.
Now, as he faces more than half a billion dollars in fines and interest as a result of his two recent civil trials, Trump appears to have lucked out again, with Wall Street delivering him a huge financial windfall. At the start of this week, Trump’s loss-making social-media company, Trump Media & Technology Group, completed a merger with a financial shell company, Digital World Acquisition, which took Trump Media public.
On its first day of trading, Reddit’s stock jumped nearly fifty per cent, valuing the company at roughly ten billion dollars. On Wednesday and Thursday, however, the stock tumbled by almost twenty-five per cent, leaving it below its offering price. Something even more dramatic could easily happen to the new Trump stock, but for the moment it seems to be buoyed by small investors, some of them Trump supporters.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Donald Trump Is Poised to Pocket Billions in a Meme Stock Media MergerThe former president has kept his finances in the dark. But now he’s pressed for cash and Truth Social could be the answer.
Read more »
Donald Trump's Stock Spikes on Important DeadlineExperts tell Newsweek they expect the vote to pass, eventually putting the former president's name and image on the stock market.
Read more »
Truth Social debut on Wall Street could net Donald Trump stock worth billions on paperThe Wall Street debut of Donald Trump's Truth Social network could give him stock worth billions of dollars on paper. But the former president probably will not be able to cash it out right away, unless some things change.
Read more »
Truth Social may merge with public shell company, potentially giving Trump stock worth billionsDonald Trump's Truth Social may vote to merge with Digital World Acquisition Corp. on Friday, opening the door for the social media site company to trade on…
Read more »
Is Donald Trump's Truth Social headed to Wall Street? It comes down to a Friday voteDonald Trump’s return to the stock market could be right around the corner.
Read more »
Is Donald Trump's Truth Social headed to Wall Street? It comes down to a Friday voteDonald Trump’s return to the stock market could be right around the corner.
Read more »