Fogbow

Luke Johnson @Orly_licious
Trump swindles his followers — again

Dana Milbank column in WaPo FREE GIFT LINK: https://wapo.st/4adxVND

#Worthless: $DJT is down again. "If you bought $DJT during last week’s IPO at the peak of $79.38 a share, your $100K was worth only $57,000 this week when the stock hit a low of $45.26 — a 43% loss in just 3 trading days." Worse now. Trump Media & Technology Group Corp. (DJT) As of 12:52PM EDT. $42.32 -$3.83 (-8.30%). As of 01:01PM ET. #TruthSocial #PravdaSocial #TrumpMedia

Market Summary
> Trump Media & Technology Group Corp
41.12 USD −5.03 (10.90%)
today
5 Apr, 14:20 GMT-4 • Disclaimer

northland10 wrote: ↑Fri Apr 05, 2024 2:19 pm Nothing a Sharpie can't fix.

► Show Spoiler

Chris Anderson @ChrisA0213 wrote: On March 25, #TMTG merged with DWAC, making #DonaldTrump billions on paper. The same day in Florida, #TMTG Corp. changed its name to #TMTG Sub Inc. Trump was removed as a director. Two days later Don Jr. was removed. Maybe it’s standard. Anyone know? #TruthSocial @MaryLTrump

noblepa wrote: ↑Fri Apr 05, 2024 4:22 pm It has been stated here that, in deals such as this, there is usually a clause that prohibits the recipient (TFG) from selling the stock they received for a period of several months from the date that the deal closed.

Does anyone know if the orange one's deal with DWAC contains such a clause?

It would be lovely schadenfreude if, by the time he can liquidate his stock, that it is worthless.

cjroberts wrote: ↑Fri Apr 05, 2024 4:04 pm This stock is going down like an Idaho Senator in a Minnesota airport restroom

Who Is Anton Postolnikov? Kremlin-Linked Fintech Guru 'Saved Trump Media'

Published Apr 04, 2024 at 8:01 AM EDT
By Brendan Cole Senior News Reporter

Donald Trump's niece, Mary Trump, is among those who have raised questions about the Russian-American businessman Anton Postolnikov, who according to The Guardian kept afloat the former president's social media company Trump Media through emergency loans.

Trump may earn billions from the merger between Trump Media and Technology Group and Digital World Acquisition Corporation, which took the parent company of Truth Social public on March 26 on the Nasdaq exchange with shares trading at a high of $78.

But a report by The Guardian about the links to the deal involving Postolnikov has sparked a strong reaction online, including from Mary Trump, who posted on X that her uncle "has shown time and again that he is willing to do business with anyone."

The Guardian said that regulators had opened a securities investigation into the merger in 2021 and that Trump Media spent a lot of money the following year as it waited for its stock market debut.

The paper said that Trump Media took emergency loans, two of which were worth $8 million, in the form of convertible promissory notes, from an entity called the ES Family Trust, which opened an account with Paxum Bank that is co-owned by Postolnikov.

Postolnikov is reportedly the nephew of Aleksandr Smirnov, a former Russian deputy minister of justice who worked in President Vladimir Putin's executive office up to 2017. Postolnikov is also the subject of a criminal investigation by the FBI and the Department of Homeland Security over his role in the TMTG merger, The Guardian reported.



https://www.newsweek.com/postolnikov-pu ... in-1886745

Kendra wrote: ↑Sun Apr 07, 2024 11:23 am Maria Bartiromo had Devin Mines on her show this morning to talk about the stock and stuff. Way over my head, but even Bartiromo seemed skeptical of Devin's version, but no push back in follow up questions. If anyone here with more education on the market and social media can queue it up and report back here, I'd be grateful

Donald Trump’s Big Mouth Could Cost Him Even More on Truth Social
Did Donald Trump violate SEC rules?


Hafiz Rashid
April 5, 2024/4:48 p.m. ET

Even after bragging about his assets and businesses got him in legal trouble, Donald Trump just can’t stop.

After a rough week for his new social media venture, Trump Media & Technology Group, or TMTG, the former president ranted on his Truth Social account Thursday about how great the platform is doing—at least, in his opinion. But Trump may have broken some Securities and Exchange Commission rules in the process.

The Truth Social posts in question could be seen as the former president trying to talk up his company to increase its stock price after a rough week. Trump Media’s initial public offering started strong last week, reaching a high of $79.38 per share. But then, SEC filings released on Monday showed that the company had losses in 2023 of a whopping $58 million, with just $4.1 million of revenue. Then, on Wednesday, two of the company’s top investors pleaded guilty to using the company’s private information to engage in insider trading.

As a result, TMTG’s stock price has dropped rapidly. It currently sits at just under $43 a share. To make matters worse, stock traders are short-selling the company, betting its share prices will plummet even further.




https://newrepublic.com/post/180479/tru ... broken-law

RTH10260 wrote: ↑Sun Apr 07, 2024 1:08 pm

Kendra wrote: ↑Sun Apr 07, 2024 11:23 am Maria Bartiromo had Devin Mines on her show this morning to talk about the stock and stuff. Way over my head, but even Bartiromo seemed skeptical of Devin's version, but no push back in follow up questions. If anyone here with more education on the market and social media can queue it up and report back here, I'd be grateful

Devin Nunes, perhaps?

RTH10260 wrote: ↑Sun Apr 07, 2024 1:13 pm

Donald Trump’s Big Mouth Could Cost Him Even More on Truth Social
Did Donald Trump violate SEC rules?

...
https://newrepublic.com/post/180479/tru ... broken-law

Slim Cognito wrote: ↑Sun Apr 07, 2024 1:55 pm

RTH10260 wrote: ↑Sun Apr 07, 2024 1:13 pm

Donald Trump’s Big Mouth Could Cost Him Even More on Truth Social
Did Donald Trump violate SEC rules?

...
https://newrepublic.com/post/180479/tru ... broken-law

I bet we could rename every one of the trump threads "Shit trump Will Get Away With."

AndyinPA wrote: ↑Sun Apr 07, 2024 12:56 pm

Off Topic

Just a nit to pick as it's driving me crazy listening to it on TV. I haven't heard one person pronounce it properly. It's Doe min I ca. Accent on the soft I.

Slim Cognito wrote: ↑Sun Apr 07, 2024 1:55 pm

RTH10260 wrote: ↑Sun Apr 07, 2024 1:13 pm

Donald Trump’s Big Mouth Could Cost Him Even More on Truth Social
Did Donald Trump violate SEC rules?

...
https://newrepublic.com/post/180479/tru ... broken-law

I bet we could rename every one of the trump threads "Shit trump Will Get Away With."

The lenders

Trump Media said it had helped fund its operations by issuing 19 convertible notes since 2021 in exchange for loans with a total face value of more than $40 million. The holders of those notes, most of whom the filings do not identify, can convert the unpaid principal into stock. The company said several of the notes had been amended or extended since they were issued, and that it had an “ongoing disagreement” with one noteholder over their “differing interpretations of certain terms.”

The company also said it had issued convertible notes to unnamed investors for “working capital purposes” during the last quarter of 2023, and that more than $1 million of the notes remained outstanding by the end of the year.