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Truth Social Investors Try to Keep Hope Alive as Stock Tanks
(www.thedailybeast.com)
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this post was submitted on 13 Apr 2024
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It would be ruined in Trump’s second term too. No one with real money bought that lie. He’s just making the middle class poor.
I'm trying to assume no 2nd Trump term for my mental health. Also I am, on the admitted basis of no special knowledge, worried that DJT stock is just a way for foreign money to get laundered and thus not subject to normal economics if he is reelected.
You and me both. I can’t do it again. 😩
He used the IPO to get some quick cash to pay the appeal bond on his NY lawsuit.
Except they're wasn't an IPO. They used a well-known shitty loophole to get by that.
Every SPAC is a scam. I learned my lesson well before this trash, which is obviously a pump-and-dump scam even independently of involving a SPAC. I would rather burn my money than give it to Donald anyway.
Did he get quick cash? I read he's not allowed to liquidate any of his shares until 6 months have passed, which at this rate is not looking good for him
As far as I'm aware, no, though my understanding is that the board can waive that requirement.
https://www.businessinsider.com/trump-could-sell-truth-social-stock-early-son-friends-board-2024-3?op=1
I also seem to recall reading some discussion about whether he could borrow against it. I'm not sure how strong of an argument that latter route is, as borrowing against it is going to require finding someone who wants to lend against its future value.
EDIT: I haven't really been paying much attention, but Forbes is pretty blunt about the prospects for shareholders.
https://archive.ph/bggR3
https://archive.ph/ozcpE
EDIT2: I gotta say, if he burns a large chunk of the faithful during his presidential campaign, he might walk away with a bunch of their money, but I'd imagine that it wouldn't be very good for his electoral prospects.