Posted on 03/21/2024 2:15:00 AM PDT by chuckee
Supporters who have driven up share price are expected to vote Friday to take company public
Donald Trump’s supporters are pushing to hand him a nearly $3.5 billion windfall by driving up the value of his also-ran social-media platform, which is on the cusp of getting approval to list on the stock market.
Trump’s winning lottery ticket would come from Truth Social, the social-media platform he launched in 2021. After a twisted path that included tens of millions of dollars in losses and insider-trading convictions, the shell company taking Truth Social public became the market’s latest meme stock. Trump’s supporters banded together to push up the stock, valuing Truth Social to a staggering $6 billion.
Truth Social could go public as soon as next week, but the deal still needs to be approved by shareholders. Even if that happens, Trump must hold his shares for six months.
Truth Social was created by Trump when he was bounced from the major social-media platforms. Since the presidential candidate was reinstated by Facebook and X, formerly known as Twitter, Truth Social has instead become a potential huge paycheck.
Truth Social’s parent is set to go public by combining with a special-purpose acquisition company, or SPAC. Its shareholders, nearly all Trump supporters, are expected to approve the merger Friday morning. Trump’s company could replace the shell company in the stock market as soon as Monday. The new ticker would be DJT, Trump’s initials.
If the deal goes through, Trump’s $3.5 billion windfall could ease his financial pressure and boost his political campaign.
(Excerpt) Read more at wsj.com ...
Sounds like the WSJ is worried.
Ha! This would be a nice GFY to Letitia James.
Don’t forget that evil judge as well. Too bad tar and feathers has gone out of fashion.
Most of the shareholders who will be voting to take it public are Trump supporters and I suspect that they want to get it public ASAP, perhaps as early as next week, so he can use the objective valuation of the securities in his appellate arguments to stave off Letitia in her politicized bid to seize his properties. If it lists next week, I am sure the legal argument against property seizure before the appellate court will be that his Truth Social stock is valued far in excess of the 400 million needed to make the appeal or satisfy the judgement. Checkmate.
It doesn’t have to be out of fashion. What is old is new again.
Trump can offer up some of his shares in the IPO to raise cash.
>> will be DJT
haha...
bkmk
DJT BUMP!
It doesn’t have to be out of fashion. What is old is new again.
Well stated! Agree fully!
And when it comes to Judge Engoron, I never saw such a tar & featherable face ever.
You bring the tar.
I’ll bring the feathers.
I know it’s politics, but Donald Trump just really loves this country and its people. I’ve actually never seen anything like it. He certainly is God sent is this for real you guys, this article? I cannot even begin to document how much success I’ve had with prayer in my life and over my lifespan.. Where are the safeguards that are founders put in play to keep this from happening I mean the unnecessary prosecution of DJT?
We the people...honest, truthful, life-loving, believing individuals.
Why? Can’t she seize his share?
Makes Leticia’s temporary theft much more palatable.
She could temporarily take $454 million of it.
He’d had 4 billion left.
She could temporarily take $454 million of it.
He’d had 4 billion left.
Sorry, 3
The Framers understood the deceitfulness of man and purposely wrote a Constitution that contained checks and balances across 3 branches of government. When the Constitution is ignored or defined by courts in a way never intended, you mitigate its safeguards. That's where we are today with the democrat party controlling so much of our government and institutions.
We may have passed a tipping point for saving our nation. If there is to be a reversion back to what the Framers intended, many people who enabled the circumvention of our Constitution need to be prosecuted and when found guilty put in prison for their crimes and if found treasonous - hung. Only by making examples of those willfully or ignorantly intent on destroying our republic can there be justice. Absent a costly penalty for crimes against our nation and its Constitution, nothing will change - IMHO.
I would think she would have trouble seizing anything not entirely within the state of New York.
I would think any seizure would be held up in the courts by third parties. It would also be a good way for Trump to leave NYC and Trump Tower with a later cash award when he is found not guilty under appeal. He would have to swallow his ego a bit and trade it in for a story to beat all stories.
EC
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