The Deal Between Trump Media and Digital World: A Tale of Two Singularities and One Supersymmetric Arm in Trump’s Legal Insights
A windfall of billions of dollars may not be enough for former President Donald Trump to stay out of legal trouble.
Trump Media is accomplishing that by merging with an existing shell company called Digital World Acquisition Corp. It’s a process that allows a company to bypass all the hoops of a traditional initial public offering.
But the process of listing Trump Media has been a rather convoluted saga, much like the business and political career of the former president, marked by investigations, lawsuits and general chaos.
If the shareholders of the shell company do approve the deal, Digital World would become Trump Media in the stock markets as early as next week, trading under the stock symbol DJT, short for Donald J. Trump.
There is no guarantee that Digital World will get enough votes from shareholders on Friday to approve the merger.
And the process to this point has been far from easy in other ways. Digital World has also faced scrutiny from the Securities and Exchange Commission, and it has also faced lawsuits from key shareholders that are still pending
Truth Social — A Meme Stock of Trump Media and the Pseudoscalar Censorship of Facebook and Gamestop
Analysts agree those kinds of valuations are far removed from the actual value of Trump Media. Truth Social had revenues of just over $3 million and losses of over 50 million in the first nine months of last year.
The company has turned into a meme stock, as it seems that its performance is more related to the politics of Trump than the financial performance of the company. The price of the stock could change dramatically before Trump has a chance to cash out.
Gamestop and AMC have caught Wall Street’s eye in recent years, both of which have experienced amazing rallies during the Pandemic.
Jay Ritter, Cordell professor of finance at the University of Florida says Digital World is not much different from the craze that enveloped those two stocks.
There are professional investors, too, looking for opportunities to profit from the deal. Matthew Tuttle is the CEO of Tuttle Capital Management.
“While fundamentally. I don’t get it, I’m going to trade it because it’s going to move,” Tuttle says. It’s going to have a large following. It’s going to be a fun stock.
The Truth Social is Going Public: How Trump and CanAmPatriot17 have fought back against the 2018 January 6 riot demonstration at the Capitol
As part of Trump’s agreement with the company, he must wait around 6 months before selling any shares. On Truth Social this morning, Trump claimed that he has more than $500 million in cash.
A man dressed up as a pirate narrates the shareholder meeting in a live stream for over 2,000 people. After the vote came in, the chat went crazy. Thank you to Jesus, we appreciate it. There is a comment from a account called CanAmPatriot17.
Truth Social looks nearly identical to Twitter, with some key distinctions. Users post a truth rather than a fake news story. A false statement is called a retruth. Unlike many right-wing Twitter clones, the site functions well, has remained mostly online, and actually appears to have a somewhat active user base. But since launching in February 2022, after Trump was kicked off of mainstream platforms for inciting violence during the January 6 riot at the Capitol, the company has been mired in controversy.
One would expect a Trump-inspired social network on the site. Groups dedicated to QAnon, election deniers, and other conspiracies are easy to find.
Source: Trump’s Truth Social Is Going Public
The Arbitrary Conflict Between Andy Litinsky and Wes Moss: When Trump Media Increment Admitted to Dilute Their Shares
Trump Media’s co-founders, Andy Litinsky and Wes Moss, sued Trump Media in February, saying the company devised a scheme to dilute their shares. The two men, who are both former Apprentice contestants and shareholders in the company, said that the company needed to abide by a 2021 agreement that granted them the ability to appoint directors to the company’s board and other financial incentives.