Please, please, please be sure to go all in. Max out the credit cards, mortgage to the limit and empty your savings. Please. Who’s all in?
Trump Media stock to begin public trading on Tuesday
A trading frenzy Monday in shares of Digital World Acquisition, the company Trump Media merged with, saw the stock rise 35 percent
Former president Donald Trump’s social media start-up will start trading on the stock market Tuesday, entering its next phase as a public company that could earn the Republican presidential candidate a multibillion-dollar fortune.
The newly merged Trump Media & Technology Group, which owns the social network Truth Social, will trade on the Nasdaq exchange under its new ticker symbol, DJT — Trump’s initials.
The company will take over the stock held by Digital World Acquisition, its merger partner, which saw its share price soar on Monday more than 35 percent. Shareholders on Friday approved the merger, which was first announced in 2021.
Trump owns 60 percent of Trump Media, or roughly 78 million shares, a stake that at Monday’s closing price is worth more than $3.9 billion. The trading frenzy on Monday helped make the company one of the largest parts of Trump’s net worth, according to Bloomberg, which said “the single-greatest day on record for the former president’s wealth” had elevated him for the first time into its list of the 500 richest people.
Trump, however, can’t sell his shares or use them as collateral for six months due to a common business-deal provision, known as a lockup, designed to give investors confidence that major shareholders won’t quickly cash out once a deal closes.
Trump Media’s valuation, at about $6.7 billion, also stands at odds with its business performance. The company earned about $3.4 million in revenue and lost $49 million in the first nine months of 2023, a Securities and Exchange Commission filing shows.
For comparison, the discussion-board platform Reddit, which went public last week and is valued at more than $9.5 billion, has 73 million unique daily visitors and generated more than $800 million in revenue last year.
Trump Media chief executive Devin Nunes, a former Republican congressman from California, saidin a statement Monday that the company will work “to reclaim the Internet from Big Tech censors” and “stand up to the ever-growing army of speech suppressors.”
The merger will unlock for Trump Media more than $300 million that Digital World raised from investors in 2021 and which the company has said it intends to use toward expanding the online infrastructure supporting its main source of revenue, ads on Truth Social.
The company, however, is far smaller than its social media peers, which also sell ads. Truth Social’s most popular user, Trump, currently has 6.7 million followers. Digital World said in a prospectuslast month that the platform had received 8.9 million sign-ups since launching in 2022.
For comparison, X said last year it had more than 540 million monthly active users. Meta’s new social network, Threads, said in July it had signed up 100 million new users in five days.
In the prospectus, Digital World said Trump Media believed that “adhering to traditional key performance indicators” — common measurements for the industry, like sign-ups and active users — could “divert its focus” from the growth of its business.
Trump Media “believes that focusing on these KPIs might not align with the best interests of [Trump Media] or its shareholders,” the prospectus said.
Trump Media’s soaring value on paper is far higher than Trump’s own assessment of it last April, when the merger process was delayed. In a campaign financial disclosure filing that month, Trump said his stake in the company was worth between $5 million and $25 million.
Trump has invested no money in the company, which was launched in early 2021 by Andy Litinsky and Wes Moss, two former contestants on Trump’s television show “The Apprentice.” The men are now suing Trump Media, claiming the company had worked to dilute their shares.
Trump Media will assume the stock ticker symbol of Trump’s last publicly traded company, Trump Hotels & Casino Resorts. The company lost more than $1 billion during Trump’s time as chairman and filed for bankruptcy in 2004, The Post reported in 2016.
The merger agreement says Trump could waive his six-month lockup provision with approval from Trump Media’s board, whose directors now include Nunes, Trump’s son Donald Trump Jr., and several high-profile Trump allies, including Robert E. Lighthizer, Linda McMahon and Kash Patel, an SEC filing shows.
But allowing Trump to cash out early could flood the market and erode the company’s share price, financial experts told The Washington Post.
In a Truth Social post on Saturday, one Digital World investor, Chad Nedohin, said a stock drop on Friday was the fault of “MASSIVE market manipulation” and “fake news” reporting about the lockup. Nedohin also insisted Trump would never sell his shares, because “such a move would be TERRIBLE for Trump and would destroy the value in his own company.”
Trump, however, could use the money to pay toward some of his hundreds of millions of dollars in legal penalties. A New York appeals court panel said Monday that Trump would need to post a $175 million bond within 10 days to delay enforcement related to his $454 million civil-fraud judgment, including the potential seizures of his assets.
On Truth Social, Trump posted on Monday a “beautiful” message he said he received from a supporter, which said, “It’s ironic that Christ walked through His greatest persecution the very week they are trying to steal your property from you.”
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I've heard the oft-repeated "Joe Biden is the worst US president ever" from a family member. I try not to talk politics with someone I know doesn't read anything political, so honest question: for the people who say Biden's the worst, what are the conditions of their argument?
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I've heard the oft-repeated "Joe Biden is the worst US president ever" from a family member. I try not to talk politics with someone I know doesn't read anything political, so honest question: for the people who say Biden's the worst, what are the conditions of their argument?
There is no logical argument. They will say border border border inflation inflation inflation.....
The reality of the situation, as has been the case for half a century, is that Joe Biden is....fine. He's doing a decent job as president. I don't think he's a great president. I don't think he's a bad president. But he's gotten us out of one of the absolute worst periods of our country's history and deserves another term as a result.
If he were ten years younger, his approval rating would still be over 50%.
I've always thought an effective campaign ad strategy for Biden would be just for kids to read Trump's nonsensical tweets word for word into the camera.
I've heard the oft-repeated "Joe Biden is the worst US president ever" from a family member. I try not to talk politics with someone I know doesn't read anything political, so honest question: for the people who say Biden's the worst, what are the conditions of their argument?
The first condition is never hearing the names Andrew Johnson or James Buchanan.
I don't take seriously people who say things like best and worst without actually studying the topic
I've heard the oft-repeated "Joe Biden is the worst US president ever" from a family member. I try not to talk politics with someone I know doesn't read anything political, so honest question: for the people who say Biden's the worst, what are the conditions of their argument?
The first condition is never hearing the names Andrew Johnson or James Buchanan.
I don't take seriously people who say things like best and worst without actually studying the topic
Not liking Biden is one thing. Calling him the worst ever is just culture-war nonsense rooted in either "he took Daddy Trump away from us" or just the increasing onslaught of anger being drilled into them by all the right-wing "information" sources they follow. It comes across as hyperbolic. Unfortunately, they mean it earnestly.
Post edited by OnWis97 on
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I've heard the oft-repeated "Joe Biden is the worst US president ever" from a family member. I try not to talk politics with someone I know doesn't read anything political, so honest question: for the people who say Biden's the worst, what are the conditions of their argument?
The first condition is never hearing the names Andrew Johnson or James Buchanan.
I don't take seriously people who say things like best and worst without actually studying the topic
Not liking Biden is one thing. Calling him the worst ever is just culture-war nonsense rooted in either "he took Daddy Trump away from us" or just the increasing onslaught of anger being drilled into them by all the right-wing "information" sources they follow. It comes across as hyperbolic. Unfortunately, they mean it earnestly.
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World Class Act that POOTWH. Don’t he make you proud? And that Sarah Hucksterbee Sanders? Ain’t she a Darlin’?
Donald Trump shares image of Joe Biden bound and gagged
Former president Donald Trump disseminated on social media on Friday an image of President Biden with his hands and feet tied and his mouth gagged, the latest example of the Republican candidate’s use of increasingly violent rhetoric and imagery this campaign season.
The image can be seen about halfway through a 20-second video that Trump posted on his Truth Social site. The post says it was recorded Thursday on Long Island, where Trump traveled this week to attend a wake for a recently killed police officer.
In the video, two trucks decorated with giant Trump flags and altered American flags are driving on a highway. On the tailgate door of one of the trucks is the image of Biden lying horizontally, bound and gagged.
Similar images of Biden have been circulating on social media for months, if not years, on sites including Instagram, Reddit and Twitter, before the platform changed its name to X. In February, the popular World Star Hip Hop site posted a video of a truck it said was in California featuring such an image.
A spokesman for Trump’s campaign did not immediately return an email on Friday seeking comment. A spokesperson for Biden’s campaign also did not immediately respond to an email.
Trump has a history of sharing and promoting violent images featuring his perceived enemies.
In October, Trump shared a doctored video of him hitting a golf ball that hits Biden and knocks him down. (It was similar to a doctored video he shared in 2017, hitting a golf ball into the back of Hillary Clinton, who falls down as a result.) In April 2023, a judge issued a warning to Trump after an image of him holding a bat next to an image of Manhattan District Attorney Alvin Bragg (D) was shared from one of the former president’s verified accounts.
In July 2017, Trump shared a videoof himself at a professional wrestling match, beating up a man whose face is covered with the CNN logo. The verified account for CNN’s communication team responded to the video with a quote from Trump’s White House spokeswoman at the time, Sarah Huckabee Sanders, falsely claimingTrump “in no way form or fashion has ever promoted or encouraged violence.”
Earlier this month, Trump toldsupporters in Ohio that some immigrants who are accused of crimes are “not people,” and warned it will be a “bloodbath for the country” if he is not elected.
The latest episode has coincided with Trump’s increasing use of violent and hostile rhetoric as he seeks to return to the White House. In December, he told people in New Hampshire that immigrants were “poisoning the blood of our country” — a phrase that immigrant groups and civil rights advocates condemned and said was reminiscent of Hitler telling Germans, in his book “Mein Kampf,” to “care for the purity of their own blood” by eliminating Jews.
Trump held his first rally of this campaign season in March 2023, in Waco, Tex., a city made famous decades earlier for the deadly showdown between FBI officials and cult members that helped fuel the anti-government militia movement. At the rally, Trump played a song sung by people held in prison for crimes related to the riot at the U.S. Capitol on Jan. 6, 2021, a group he has since repeatedly referred to as “patriots,” and “hostages.”
And so, so, very much winning with that fruit from the poisonous tree.
“We believe this was a vexatious case, without merit which should never have been brought to the English courts,” Steele said. “We now look forward to receiving the interim payment from Donald Trump and a further costs award once the court has adjudicated the details.”
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Comments
Trump Media stock to begin public trading on Tuesday
A trading frenzy Monday in shares of Digital World Acquisition, the company Trump Media merged with, saw the stock rise 35 percent
The newly merged Trump Media & Technology Group, which owns the social network Truth Social, will trade on the Nasdaq exchange under its new ticker symbol, DJT — Trump’s initials.
The company will take over the stock held by Digital World Acquisition, its merger partner, which saw its share price soar on Monday more than 35 percent. Shareholders on Friday approved the merger, which was first announced in 2021.
Trump owns 60 percent of Trump Media, or roughly 78 million shares, a stake that at Monday’s closing price is worth more than $3.9 billion. The trading frenzy on Monday helped make the company one of the largest parts of Trump’s net worth, according to Bloomberg, which said “the single-greatest day on record for the former president’s wealth” had elevated him for the first time into its list of the 500 richest people.
Trump, however, can’t sell his shares or use them as collateral for six months due to a common business-deal provision, known as a lockup, designed to give investors confidence that major shareholders won’t quickly cash out once a deal closes.
Trump Media’s valuation, at about $6.7 billion, also stands at odds with its business performance. The company earned about $3.4 million in revenue and lost $49 million in the first nine months of 2023, a Securities and Exchange Commission filing shows.
For comparison, the discussion-board platform Reddit, which went public last week and is valued at more than $9.5 billion, has 73 million unique daily visitors and generated more than $800 million in revenue last year.
Trump Media chief executive Devin Nunes, a former Republican congressman from California, saidin a statement Monday that the company will work “to reclaim the Internet from Big Tech censors” and “stand up to the ever-growing army of speech suppressors.”
The merger will unlock for Trump Media more than $300 million that Digital World raised from investors in 2021 and which the company has said it intends to use toward expanding the online infrastructure supporting its main source of revenue, ads on Truth Social.
The company, however, is far smaller than its social media peers, which also sell ads. Truth Social’s most popular user, Trump, currently has 6.7 million followers. Digital World said in a prospectuslast month that the platform had received 8.9 million sign-ups since launching in 2022.
For comparison, X said last year it had more than 540 million monthly active users. Meta’s new social network, Threads, said in July it had signed up 100 million new users in five days.
In the prospectus, Digital World said Trump Media believed that “adhering to traditional key performance indicators” — common measurements for the industry, like sign-ups and active users — could “divert its focus” from the growth of its business.
Trump Media “believes that focusing on these KPIs might not align with the best interests of [Trump Media] or its shareholders,” the prospectus said.
Trump Media’s soaring value on paper is far higher than Trump’s own assessment of it last April, when the merger process was delayed. In a campaign financial disclosure filing that month, Trump said his stake in the company was worth between $5 million and $25 million.
Trump has invested no money in the company, which was launched in early 2021 by Andy Litinsky and Wes Moss, two former contestants on Trump’s television show “The Apprentice.” The men are now suing Trump Media, claiming the company had worked to dilute their shares.
Trump Media will assume the stock ticker symbol of Trump’s last publicly traded company, Trump Hotels & Casino Resorts. The company lost more than $1 billion during Trump’s time as chairman and filed for bankruptcy in 2004, The Post reported in 2016.
The merger agreement says Trump could waive his six-month lockup provision with approval from Trump Media’s board, whose directors now include Nunes, Trump’s son Donald Trump Jr., and several high-profile Trump allies, including Robert E. Lighthizer, Linda McMahon and Kash Patel, an SEC filing shows.
But allowing Trump to cash out early could flood the market and erode the company’s share price, financial experts told The Washington Post.
In a Truth Social post on Saturday, one Digital World investor, Chad Nedohin, said a stock drop on Friday was the fault of “MASSIVE market manipulation” and “fake news” reporting about the lockup. Nedohin also insisted Trump would never sell his shares, because “such a move would be TERRIBLE for Trump and would destroy the value in his own company.”
Trump, however, could use the money to pay toward some of his hundreds of millions of dollars in legal penalties. A New York appeals court panel said Monday that Trump would need to post a $175 million bond within 10 days to delay enforcement related to his $454 million civil-fraud judgment, including the potential seizures of his assets.
On Truth Social, Trump posted on Monday a “beautiful” message he said he received from a supporter, which said, “It’s ironic that Christ walked through His greatest persecution the very week they are trying to steal your property from you.”
https://www.washingtonpost.com/technology/2024/03/25/truth-social-trump-media-stock-market-billions/
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lol
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"Well, you tell him that I don't talk to suckas."
More like separation of the rubes from their cash.
"Well, you tell him that I don't talk to suckas."
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Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
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Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
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The reality of the situation, as has been the case for half a century, is that Joe Biden is....fine. He's doing a decent job as president. I don't think he's a great president. I don't think he's a bad president. But he's gotten us out of one of the absolute worst periods of our country's history and deserves another term as a result.
If he were ten years younger, his approval rating would still be over 50%.
I've always thought an effective campaign ad strategy for Biden would be just for kids to read Trump's nonsensical tweets word for word into the camera.
I don't take seriously people who say things like best and worst without actually studying the topic
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"Disinformates"
"Misinformates"
"Grest"
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Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Donald Trump shares image of Joe Biden bound and gagged
The image can be seen about halfway through a 20-second video that Trump posted on his Truth Social site. The post says it was recorded Thursday on Long Island, where Trump traveled this week to attend a wake for a recently killed police officer.
In the video, two trucks decorated with giant Trump flags and altered American flags are driving on a highway. On the tailgate door of one of the trucks is the image of Biden lying horizontally, bound and gagged.
Similar images of Biden have been circulating on social media for months, if not years, on sites including Instagram, Reddit and Twitter, before the platform changed its name to X. In February, the popular World Star Hip Hop site posted a video of a truck it said was in California featuring such an image.
A spokesman for Trump’s campaign did not immediately return an email on Friday seeking comment. A spokesperson for Biden’s campaign also did not immediately respond to an email.
Trump has a history of sharing and promoting violent images featuring his perceived enemies.
In October, Trump shared a doctored video of him hitting a golf ball that hits Biden and knocks him down. (It was similar to a doctored video he shared in 2017, hitting a golf ball into the back of Hillary Clinton, who falls down as a result.) In April 2023, a judge issued a warning to Trump after an image of him holding a bat next to an image of Manhattan District Attorney Alvin Bragg (D) was shared from one of the former president’s verified accounts.
In July 2017, Trump shared a videoof himself at a professional wrestling match, beating up a man whose face is covered with the CNN logo. The verified account for CNN’s communication team responded to the video with a quote from Trump’s White House spokeswoman at the time, Sarah Huckabee Sanders, falsely claimingTrump “in no way form or fashion has ever promoted or encouraged violence.”
Earlier this month, Trump toldsupporters in Ohio that some immigrants who are accused of crimes are “not people,” and warned it will be a “bloodbath for the country” if he is not elected.
The latest episode has coincided with Trump’s increasing use of violent and hostile rhetoric as he seeks to return to the White House. In December, he told people in New Hampshire that immigrants were “poisoning the blood of our country” — a phrase that immigrant groups and civil rights advocates condemned and said was reminiscent of Hitler telling Germans, in his book “Mein Kampf,” to “care for the purity of their own blood” by eliminating Jews.
Trump held his first rally of this campaign season in March 2023, in Waco, Tex., a city made famous decades earlier for the deadly showdown between FBI officials and cult members that helped fuel the anti-government militia movement. At the rally, Trump played a song sung by people held in prison for crimes related to the riot at the U.S. Capitol on Jan. 6, 2021, a group he has since repeatedly referred to as “patriots,” and “hostages.”
https://www.washingtonpost.com/politics/2024/03/29/donald-trump-joe-biden-bound-and-gagged/
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Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
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