Trump Media stock erases all gains since it began trading as DJT shares fall again
Trump Media stock erases all gains since it began trading as DJT shares fall again
And many traders are betting that the stock price will continue to fall further.
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And is still valued way too high
He still has like 5 months before he can sell his shares and make money.
Not sure if it'll be before or after the election, but right now valuation only matters if some bank is dumb enough to use the shares as collateral on a loan.
Unless the board allows him to sell before the six-month mark. And considering the fact that the board is made up of his children and other sycophants, there’s a 100% chance they allow it if he asks. He just has to determine if he wants to sell a major stake in the company and potentially tank the stock, which I don’t think he’s shy about doing.
I really thought the 6 month thing for IPOs was a law...
But I really don't know, I just no it was a weird and probably not intentional loophole when redditors were able to immediately sell their stock they got before the IPO.
Like. I don't think its a "good faith" thing, if you get in before the IPO because you work for the company, theres no way around the wait.
But I might be wrong
The stock wouldn't be subject to IPO laws because there was no IPO.
Trump Media 'went public' by being bought by another, already publicly traded, company. That company changed its appearance to become the current Trump Media thus bypassing the IPO process.
...and bypassing a whole bunch of SEC oversight, which is why they did it that way.
I heard it mentioned that even if the board approved an early sale for Trump, the company may still be in trouble for failing it’s duty to share holders (since allowing a Trump dump would pretty much finish off the company).
I am also learning here, but I always thought that any short positions or intended divestures had to be part of the prospectus. Otherwise the principals are open to a flurry of lawsuits. Not that those would scare him.
There was no prospectus.
Bank of Putin has entered the chat. This is all a gigantic money laundering scheme.
Trump is Trump Media’s biggest shareholder, with 57.3 percent of the company, or 78.7 million shares — a stake worth about $2.9 billion based on the stock’s closing price Monday.<
Through an “earnout” provision, Trump stands to receive another 36 million shares if the price stays above $17.50 for 20 days, which could happen as soon as April 26 and would raise his total stake to $4.2 billion.< https://www.washingtonpost.com/technology/2024/04/07/trump-media-truth-social-payout/
I got my eye on that April 26 date. We're on track to see the mustard hit the wall on that day. God speed the short sellers!!
Hey! How else is Putin's Cock Holster supposed to get his rubles!!? Actually do proper business?
Pffft. As if.