TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) NASDAQ:DJT - SPAC Digital World Acquisition Corp

[Volkonski]

A 9% drop in only 30 minutes.

[Dr. Ken]

At this rate it's going to be around $10 by the end of the week

[Flatpoint High]

as of this poast:

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[Luke]

Nice start for the week. Made it to that nice round 10%.

If you're short.


#TruthSocial #CRASH: 4/8/24 $DJT DOWN ANOTHER 10% to $36.52. Brutal for Trump #Marks. Stock price lacks both fundamental and technical support. Trump Media's revenue is just $4M, a $MCD franchise. Original opening price: $49.90. High: $79.38 on March 26. #PravdaSocial #ZeroValue

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[RTH10260]

MTN Ben Meiselas points out to strange legalese of the TMTG Corporation website:

https://ir.tmtgcorp.com/terms-conditions/

General
The Company operates and maintains this internet site for purposes of providing information, guidance and assistance to its visitors, free of charge.

Governing Law and Jurisdiction
These Terms and Conditions of Use shall be governed by the laws and subject to the jurisdiction of the courts of the Republic of Argentina. Any dispute between The Company and its Affiliates in relation to the Website shall be submitted to the competent National Ordinary Courts of the Federal Capital, expressly waiving any other venue or jurisdiction that might be applicable.

[Volkonski]

34.95

After holding steady yesterday DJT stock has resumed falling in price this morning.

[Suranis]

You don't think the laws of the Republic of Argentina will give your investment adequate protection? How peculiar or you.

[/snark}

[Rolodex]

I love some tasty schadenfreude snacks daily. Keep dropping; it's delicious!

[Volkonski]

33.51

[Rolodex]

33.51

I hope it's in the 20s Monday in time for him to be all pissy at the first day of trial.

[Luke]

Luke Johnson @Orly_licious
4/10/24 #TruthSocial #CRASH: $DJT DOWN ANOTHER 10% to $34.08 Brutal for Trump #Marks. Stock price lacks both fundamental & technical support. Trump Media's revenue is just $4M, a $MCD franchise. Original opening price: $49.90. High: $79.38 on Mar 26. #PravdaSocial #ZeroValue

Update: Broke through $34. $33.99 -$3.48 (-9.27%)





I hope JPC put in a STOP LOSS!

[p0rtia]

Closing at 34.26.

What will the future bring???

[Flatpoint High]

Closing at 34.26.

What will the future bring???

Donnie trying to sue to recoup his loss?

[Suranis]

Honestly, I have no idea if he is screaming about it, but the fact no-on is pointing out he is screaming about it says that he has already gotten his money out and therefore he thinks he is Alphamale and does not care. Just like with Atlantic city. The whole thing flopped, but he creamed off a few million from it so it meant he was Smert and a Winnar.

[Flatpoint High]

Honestly, I have no idea if he is screaming about it, but the fact no-on is pointing out he is screaming about it says that he has already gotten his money out and therefore he thinks he is Alphamale and does not care. Just like with Atlantic city. The whole thing flopped, but he creamed off a few million from it so it meant he was Smert and a Winnar.

He's locked in until October.

[Suranis]

He's locked in until October.

I know that, which is why I'm wondering why he is so quiet about it. It's probably something highly illegal and unethical, and people will be shocked that he would do it.

[raison de arizona]

DUMPING: TruthSocial co-founders seek permission early sell-off

TruthSocial, the social media site the former president retreated to when he was kicked off mainstream options, is struggling after going public.

The DJT stock, representing Donald Trump’s media company, is still falling precipitously, and the news could get even worse for the former president. Currently, there’s a rule in place that prevents him from selling his own shares, and that also applies to some other early investors in the failing company.

Two co-founders, Wesley Moss and Andrew Litinsky, who say they initially pitched the idea of the site to Trump — then claim that they got cheated on stock shares — are now seeking to escape their connection to that investment. They had already filed a lawsuit, claiming that Trump cheapened the value of the shares they took as compensation instead of a paycheck.

Now they say they should be permitted to sell the stock before the pre-arranged 6-month mark, the same point at which Trump is allowed to dump his shares. Barron’s reports:

“In the latest development Moss and Litinsky have now amended their lawsuit to also seek to be able to sell their shares in Trump Media ahead of the expiration of a six-month lockup period.”

Trump also countersued to demand that they surrender the stock they own, blaming them for the delays in taking the site public. The two co-founders seek an injunction to stop that lawsuit.

It seems the two disgruntled partners are now willing to be rid of the stock, but “co-founders seeking permission to sell their shares” is not a great look for a company, and could drive the value even lower, both directly (if they receive permission to sell) and indirectly, by scaring off other investors.

Trump’s company is making that argument in response to the filing. Newsweek reported:

“Attorneys for Trump Media argued that the enforcement of share lockups is a standard practice in transactions involving companies like Digital World Acquisition Corp (DWAC), the report said, and that permitting the co-founders to sell off their shares prematurely would negatively impact both the company and its other shareholders.”

Trump’s dropping stock price has already cost him, with the merger first placing him on the Bloomberg 500 list, then the drop in value removing him from it again.

https://washingtonpress.com/2024/04/10/ ... -sell-off/

[Uninformed]

I’d be devastated if my shares in a basically worthless company were currently valued at only about 2.7 billion dollars.

[keith]

Honestly, I have no idea if he is screaming about it, but the fact no-on is pointing out he is screaming about it says that he has already gotten his money out and therefore he thinks he is Alphamale and does not care. Just like with Atlantic city. The whole thing flopped, but he creamed off a few million from it so it meant he was Smert and a Winnar.

I have no doubt what so ever that this is the case. It is the only way he knows how to "do business".

[Ben-Prime]

Those co-founders should agree to sell him their stock at whatever price it was the day his lawsuit was filed. Then it's win-win, right?

[Foggy]

Such a deal. Why, long after Trump is dead and gone, Truth Social is pining for the fjords, and the MAGAt movement is buried and stinkin', you'll still be able to sell those DJT stock certificates for three or four bucks at a garage sale in Louisiana or someplace. Hold that investment for the future!!

[jcolvin2]

He's locked in until October.

Thinking that Trump can unload all of his stock when the lock-up period expires ignores the SEC Rule 144 securities law restrictions imposed on persons who are considered "affiliates" of a company. Ordinarily, those who own more than 10% of a public company are considered affiliates. I understand that Trump owns 57% of the company.

With respect to sales on the market, an affiliate is subject to volume limitations: in each quarter, no more than the greater of (1) one percent of the total outstanding shares of the security; or (2) the average weekly trading volume of the security during the preceding four weeks, can be sold in the market.

Assuming the average weekly trading volume limitation did not apply, it would take Trump 12 years (48 quarters) of selling 1% of his stock each quarter to get down below 10% (where he would not longer be an affiliate). As TMTG is a weird meme stock with lots of sales activity relative to ordinary indicators of value, the alternative trading volume test might let Trump sell his shares somewhat quicker, but we are likely looking at a likely time horizon of several years.

[chancery]

And ... well, I'm no expert on stock markets, but if Trump dumps the maximum he's allowed at the first opportunity, would that be viewed as a positive development leading to a higher share price?

[northland10]

Closing at 34.26.

What will the future bring???

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[p0rtia]