TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) NASDAQ:DJT - SPAC Digital World Acquisition Corp
TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
That's a shame. A damn shame.
- raison de arizona
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
I dunno what you are all talking about, the sky's the limit!
“Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide.” —John Adams
- RTH10260
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
as seen by our TFB crew downunder
- Ben-Prime
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
in hindsight, giving the company his own initials makes it easier for people to write headlines like "DJT goes down in flames," for sure.
But the sunshine aye shall light the sky,
As round and round we run;
And the truth shall ever come uppermost,
And justice shall be done.
- Charles Mackay, "Eternal Justice"
As round and round we run;
And the truth shall ever come uppermost,
And justice shall be done.
- Charles Mackay, "Eternal Justice"
TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
Funny thing is I can read that without having to flip the image or turn my phone around. He lost a billion dollars in stock value todayraison de arizona wrote: ↑Mon Apr 01, 2024 5:47 pm I dunno what you are all talking about, the sky's the limit!
Philly Boondoggle
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
My brain kept wanting to read the bolded title Trump Webig & Technology Cloud Cold.
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
WUT.....?
In the SEC filing......
In a filing on Monday, TMTG’s management said that “adhering to traditional key performance indicators, such as signups, average revenue per user, ad impressions and pricing, or active user accounts including monthly and daily active users, could potentially divert its focus” away from growth
Errrrrrr, last I checked, growth requires money and stuff, say, development costs, BAU costs to ramp up such as hosting costs based on anticipated growth, sales and marketing to get punters on board, income to show you have a viable business model so you can borrow to invest to grow and so on.
I mean one major revenue stream is via ads and "renting" access to the user base information..... but you need to have a viable and large or growing user base to make that worthwhile. A pile of low income MAGA's and a shrinking or static user base ain't interesting to those who want to monetize the user base.
Then again the turd in the punch bowl doesn't care, he'll pump and dump as soon as he can and leave his "investors" in the rear view mirror all while saying how it was the best deal EVAH!!!!! (for him)
In the SEC filing......
In a filing on Monday, TMTG’s management said that “adhering to traditional key performance indicators, such as signups, average revenue per user, ad impressions and pricing, or active user accounts including monthly and daily active users, could potentially divert its focus” away from growth
Errrrrrr, last I checked, growth requires money and stuff, say, development costs, BAU costs to ramp up such as hosting costs based on anticipated growth, sales and marketing to get punters on board, income to show you have a viable business model so you can borrow to invest to grow and so on.
I mean one major revenue stream is via ads and "renting" access to the user base information..... but you need to have a viable and large or growing user base to make that worthwhile. A pile of low income MAGA's and a shrinking or static user base ain't interesting to those who want to monetize the user base.
Then again the turd in the punch bowl doesn't care, he'll pump and dump as soon as he can and leave his "investors" in the rear view mirror all while saying how it was the best deal EVAH!!!!! (for him)
- Sam the Centipede
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
I enjoy the glee in this and similar posts – who wouldn't? – but those billions don't exist in any meaningful sense, do they?
If I put my house up for sale for $100M then sell it for a more realistic (say) $500K* I have not lost $99.5M because that was never there, I never had it. In the same way, Trump hasn't lost anything. Yet.
The real worry with Trump Antisocial (motto: "shitter than Twitter") is, I believe, that it gives bad actors a legitimate route for sending funds to Trump and his campaign while avoiding all scrutiny, especially on the campaign side. That way the bad actors don't give Trump money: "no sir, we just bought shares in this exciting project at what we consider a fair price."
Will the SEC or other regulatory or law enforcement agencies by monitoring this to identify and prevent it prosecute that sort of money laundering?
_______
* No, Casa Centipedro is not even worth that much.
TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
It's down 50 cents in the pretrading. Current ask is 48.16 a share. How low will it go today?
Philly Boondoggle
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
castigat ridendo mores.
VELOCIUS QUAM ASPARAGI COQUANTUR
VELOCIUS QUAM ASPARAGI COQUANTUR
- RTH10260
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
51.82+3.16 (+6.49%)
As of 11:35AM EDT.
Hurry - grab the stuff as long as it is still cheap
As of 11:35AM EDT.
Hurry - grab the stuff as long as it is still cheap
TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
I'm betting it's going to get cheaper.
"Choose your leaders with wisdom and forethought. To be led by a coward is to be controlled by all that the coward fears… To be led by a liar is to ask to be told lies." -Octavia E. Butler
TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
There is definitely still some fleecing to be done.
- raison de arizona
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
https://www.alternet.org/trump-sues-business-partners/Trump sues his Truth Social partners after stock loses $4 billion in first week of trading
Former President Donald Trump was set to reap a multibillion-dollar payday from the initial public offering (IPO) of Trump Media and Technology Group (TMTG). But now, it looks like the stock could be worth a fraction of what it initially traded for by the time he can actually capitalize on it.
The stock (trading as "DJT" on the Nasdaq Composite) has already lost nearly $4 billion in value after its first week of trading, cheapening the value of Trump's shares in the company. As a result of the stock's poor performance, Trump has personally lost $1 billion in his estimated net worth as $DJT continues to crater. This has resulted in Trump lashing out at his partners in the business venture, attempting to zero out their shares as punishment for allegedly setting up the company improperly.
Bloomberg reported Tuesday that Trump sued Andy Litinsky and Wes Moss in Florida state court in an attempt to have the court give him their combined 8.6% stake in TMTG, which is worth over $600 million. The former president alleges that Litinsky and Moss botched the establishment of the company's corporate governance structure and mishandled its merger with a special purpose acquisition company (SPAC) earlier this year dubbed Digital World Acquisition.
"Moss and Litinsky failed spectacularly at every turn," the lawsuit alleges. "They made a series of reckless and wasteful decisions at a critical time that caused significant damage to TMTG and a decline in the stock price of its merger partner."
Trump's lawsuit in Florida comes after Litinsky and Moss filed their own lawsuit against the former president in Delaware Chancery Court in February. The two investors accused Trump of orchestrating a scheme to "drastically dilute" the value of TMTG's shares in what they referred to as "11th hour, pre-merger corporate maneuvering." While Trump initially had control of 90% of the company and had 78 million shares in the company, his business partners alleged that he tried to inflate the number of shares to one billion, which would have reduced their stake to less than 1% of the company.
"[Litinsky and Moss' company was] promised 8.6 percent of this company and sadly its business partners are baselessly trying to renege," attorney, Christopher J. Clark told the Washington Post in February. "They feel like: We made Truth Social for you. You get 90 percent. But some people just aren’t happy with 90 percent."
Trump's business partners alleged that the former president's schemed to artificially create new shares to possibly then give to himself and his family members. Prior to going public last week, the SPAC that facilitated TMTG's merger told the Securities and Exchange Commission that the pending litigation could "negatively impact investor confidence and market perception."
According to Bloomberg, the fact that Trump filed a lawsuit in Florida rather than countersuing Litinsky and Moss in Delaware angered chancery court Judge Sam Glasscock III, who may sanction Trump over the suit. Glasscock was reportedly "gobsmacked" at learning of the former president pursuing separate litigation outside of his courtroom.
While the litigation between Trump and his business partners may have played a role in the nosedive of TMTG's stock, the primary cause for $DJT plummeting by $4 billion in value was a recent filing with regulators. That filing stated that TMTG needed the SPAC's funding to remain operational, and that the company suffered $58 million in losses last year.
In raw numbers, Truth Social remains far below its competitors in the social media world, like Facebook, X/Twitter, Instagram, WhatsApp and TikTok. Truth Social is apparently not even counted among the top 100 apps on the Apple App Store.
“Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide.” —John Adams
- MN-Skeptic
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
https://assets.bwbx.io/documents/users/ ... 6wF3ZDU/v0raison de arizona wrote: ↑Tue Apr 02, 2024 6:56 pmTrump sues his Truth Social partners after stock loses $4 billion in first week of trading
Former President Donald Trump was set to reap a multibillion-dollar payday from the initial public offering (IPO) of Trump Media and Technology Group (TMTG). But now, it looks like the stock could be worth a fraction of what it initially traded for by the time he can actually capitalize on it.
Tim Walz’ Golden Rule: Mind your own damn business!
TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
That's all hilarious. I thought he always chose the BESTEST people to work with!
Do the right thing. It will gratify some people and astonish the rest. - Mark Twain
TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
Remember, he owns 90% of the stock.
Hic sunt dracones
- pipistrelle
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
Who uses that site other than him? Whatever happened to all those other "free speech" sites that were right wing friendly? I can't even recall their names. Parler? That's the only one I can think of. But there were several.
- Slim Cognito
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TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) SPAC Digital World Acquisition Corp NASDAQ: DWAC
Not sure if this is behind a paywall. Interesting history and analysis in the first 4 stages. Plus an update.
Trump Media Is Not a Meme Stock. It’s a Cryptocurrency
Investors aren’t buying DJT for future cash flows.
John Rekenthaler
Mar 28, 2024
https://www.morningstar.com/stocks/trum ... meme-stock
Stage Number Five: Cryptocurrency
Many observers have called Trump Media a meme stock, but the label does not fit. Meme stocks consist either of established firms that have stagnated, such as 2021’s stars, or they are growth stories, as with this year’s heroes. In either case, meme-stock investors care about their companies’ business operations. When I wrote in January 2021 about GameStop GME, several shareholders quarreled with my assessment of the company’s prospects. But business results are not the issue with Trump Media. If they were, the DWAC transaction never would have been consummated, and DJT stock never would have come to market.
Trump Media is instead a cryptocurrency. As with bitcoin, people buy Trump Media not for future cash flows but because: 1) they expect its price to rise, and 2) they feel an affiliation for the asset. Bitcoin owners are members of a club. So, too, are Trump Media investors, to an even greater degree. For them, DJT shares represent a currency by which they can express their beliefs and commitment.
Which is why I will make no forecasts about Trump Media’s stock price. In January 2022, I offered my view on DWAC, correctly as it turned out. I will not make a second attempt as the normal investment rules no longer apply. Predicting DJT’s fortune is like predicting the direction of bitcoin. Others may try, but not me.
Update
When this column was originally published, I stated that Trump Media & Technology Group’s DJT annual revenue had “plateaued,” which is terrible for a company that was only in its second year of operations. As it turns out, I was too kind. SEC filings on April 1 revealed that after treading water in the third quarter of 2023, Trump Media’s revenue dropped sharply in the fourth quarter. During the first nine months of the year, the company’s sales were an annualized $4.5 million, but in the final quarter, they sunk to an annualized $3.0 million.
The market’s reaction has cast doubt on my claim that Trump Media is a form of cryptocurrency, owned by people who do not expect the business to ever generate cash. Per that logic, Trump Media’s operational results are beside the point because everybody realizes that the company lacks meaningful business prospects. Yet the stock has lost 25% of its value since the filing was released, suggesting that Trump Media shareholders do, in fact, care about the business results.
Optimism is a good characteristic, but if carried to an excess, it becomes foolishness.
—Theodore Roosevelt
—Theodore Roosevelt