Trump stands to make $3.5 billion from his 60% share of Truth Social now that it has become a meme stock
Trump stands to make $3.5 billion from his 60% share of Truth Social now that it has become a meme stock
The social media platform is poised to go public via SPAC at a $6 billion valuation as former President Donald Trump’s supporters pump money into its stock.
Who tf says that truth social has become a meme stock? A corporate news reporting company? Thats not how meme stocks work. Also a SPAC going up means fuck about shit. SPACs always do that before something goes public but again, that doesn't make it a fucking meme stock. This is absolute dog-wagging cruft.
PG&E is a fucking meme stock. Why? because its like Afghanistan, destroyer of empires. AAPL is a meme stock too. DIS? No one fucks with the mouse.
I hate that all reporting has effectively become wag the dog reporting. There is no information any more, only influence and attempts at influence.
Puts on Reddit. And super-puts on a rightwing only social media business that only the man-grate and MMA gyms will want to advertise on.
Edit: annoyed so I pulled it up. Looks like they are massively down since it was formed to test balloon this in 2022. A bit of a pop in the last few months, but that means jack shit. 10% down on this news. Social media is a terrible investment considering the consequences advertisers have learned about putting their products next to opinions.
I think they meant Scheme Stock.
Advertising on social media just needs to flip perspective, like if I was Clorox Id buy space specifically next to rightoid conspircy because the logical people will think yeah I definitely need bleach after reading that, and the conspiracy idiots have a good chance of drinking the bleach instead of getting a vaccine.
GameStop is THE meme stock
I have no reason whatsoever to disagree with this, but somehow I just can't believe it will actually happen this way. I just don't believe it.
I guess my thinking is that, reduced to fundamentals, DWAC is a vehicle for funneling money to Trump either from rubes or from money laundering. And I feel like both of those wells have been sucked on so thoroughly at this point that there can't possibly be 3.5 BILLION dollars sitting untapped in either of them.
But time will tell. Like I say I have no factual disagreement with any of the individual elements.
What's actually being traded right now is a small portion of the actual shares that will make up the new merged company. This dollar amount assumes that trump would be able to sell 60% of all stock in the company (which is much more than is available to trading right now), without sending the stock price right into the ground. That's just not going to happen.
This lockup period prevents him from selling for 6 months to prevent the share price from tanking just after the merger from insider selling, but the board could decide to remove that restriction so he could start offloading shares. Even if they don't, when we get closer to lockup expiration I'm guessing the shares will likely begin tanking in anticipation of Trump doing this. He'd be dumb not to try and offload shares, the company is insanely overvalued.
This lockup period prevents him from selling for 6 months to prevent the share price from tanking just after the merger from insider selling, but the board could decide to remove that restriction so he could start offloading shares.
I can't see why the board would remove the restriction when they likely have stock too. They likely understand the grift and know that they need to get theirs sold off before Trump tanks whatever is left.
If he tries to sell large amount at once, presumably the price would plummet. I can't imagine there are anywhere near 3.5 billion dollars of buyers out there for this.
He doesn’t need to sell.
He just needs someone willing to give him a loan with the stock as collateral.
Also, the Russians or Saudis might be willing to fork over in exchange for “consideration” this just thinly veils it as not-a-bribe(but it is totally a bribe.)
He can't sell for six months after it goes public, nor can he use his shares as collateral for a loan in those six months. If he loses the election, stock will tank, so IPO needs to be delayed until mid-May to potentially royally screw him over.