All articles tagged with #trump media and technology group corp
Despite a $4.5 billion loss in market value for Trump Media & Technology Group Corp, Donald Trump and other corporate insiders are in line for a massive special bonus of 40 million new shares if the stock can recover from its recent slump, a common practice in SPAC deals that dilutes the value of ordinary shareholders' stakes.
Despite a $4.5 billion selloff in Trump Media & Technology Group Corp shares, former President Donald Trump and his corporate insiders are in line for a massive special bonus of 40 million new shares if the stock can recover. The earnouts, part of the startup’s blank-check deal, require the stock to trade above $17.50 for 20 days out of a 30-day period over the next three years. The value of the additional windfall has spiraled with shares tumbling, and the insiders are somewhat protected even if the shares keep falling. However, the actual value of Trump Media has been hotly debated given its financial performance, and Trump is embroiled in a lawsuit with two co-founders.
Trump Media & Technology Group Corp., largely owned by former president Donald Trump, has seen a 37% dive in its stock value since its debut, erasing approximately $2.8 billion in value as retail traders who initially drove up the stock began to sell, falling below its level at the time of its tie-up approval with Digital World Acquisition Corp.
Donald Trump has sued two co-founders of Trump Media & Technology Group Corp., alleging that they set up the company improperly and do not deserve their 8.6% stake, currently valued at $606 million. The lawsuit claims that the co-founders made costly mistakes that caused significant damage to the company and led to a decline in stock prices. This legal battle is the latest in a series of court disputes between Trump and the co-founders, who were also involved in the creation of the social media platform Truth Social.
Bill Gross, the former "Bond King," is attracted to trading options tied to Donald Trump's media company, Trump Media & Technology Group Corp, due to the high implied volatility and potential for large premiums. The company's stock surge has led to a frenzy of speculative trading, with investors using options, short bets, and warrants to get in on the action. However, the high costs of options contracts and borrowing, along with the limited availability of shares to trade, have made it particularly volatile and expensive to bet against.
Former President Trump's social media network Truth Social begins trading on the Nasdaq under the ticker DJT, following a blank check merger with Digital World Acquisition Corp. Meanwhile, WeWork founder Adam Neumann has made a $500+ million bid to acquire his former company out of bankruptcy, with the deal potentially reaching $900 million pending due diligence. Yahoo Finance's trending tickers include Reddit, GameStop, and Tesla, with key guests scheduled for the day's programming.
Donald Trump's social media company, Trump Media & Technology Group Corp, has started trading on the Nasdaq with a market value of almost $6.8 billion. The company, which operates the social media platform Truth Social, faces skepticism from potential investors due to its high stock price and volatility, as well as its lack of profitability. With Trump's ownership stake and legal proceedings, the company also faces risks related to the former president's involvement. Despite Trump's claims of Truth Social's success, the platform's user numbers have not been disclosed, and it faces competition from established social media giants.
The Securities and Exchange Commission (SEC) has charged Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), for making material misrepresentations in forms filed with the SEC regarding its initial public offering and proposed merger with Trump Media & Technology Group Corp. The SEC found that DWAC failed to disclose its plan to acquire TMTG prior to the IPO and misled investors and the SEC. DWAC has agreed to a cease-and-desist order, pay an $18 million penalty if the merger transaction closes, and ensure that any future filings are accurate and complete.