1y ago

DWAC stock tumbles more than 12% after Trump social media merger approved by shareholders

www.cnbc.com

DWAC stock shares close nearly 14% down after Trump social media merger approved by shareholders

15 comments

Donald Trump stands to reap a windfall of $3 billion or more
Cool. Who's getting it first, the State of New York, the banks loaning him money, or the Russians who own those banks?
- Lets see him sell $3bn in his stock and it not tumble to zero
  
  He already put effort into making the shareholders change the rules to allow him unlimited share sales with no warning/notification. Total "fuck all the investors" kinds of rules. I don't know where all that stands, but he's way ahead of you on this pump and dump scheme.
  
  I would like to believe he still has a league of greedy dogs that are still trying to get him to pay them. They'll make sure he gets paid so they get paid too. I'm really curious as to how some Grima Wormtounge will make that happen for him.
  
  As someone who knows nothing about the stock market, wouldn't he still get his 3bn and everyone else would be fucked? I assume the price would fall after he sells no?
  
  He'd just borrow against it...not sell
Can someone explain how this fucking works? DWAC market cap is 1.37B, Truth Social has apparently never made money... How does them merging add like 6+ Billion market cap? Am I crazy or has the world gone nuts?
- I don't really understand this, either. Other than these new SPACs being the cutting edge of fraud or some kind of white-collar crime. Here's some interesting info (and comparison with Reddit IPO).
  SPACs were supposed to be a quick and easy way for a company like Trump Media & Technology Group to go public, but it hasn't worked out that way.
  Instead, they've developed a reputation as a kind of back-door IPO for companies that probably couldn't withstand the scrutiny involved with a conventional listing.
  Many of the highest-profile SPACs, including Nikola, Virgin Galactic, and BuzzFeed, are now unloved penny stocks.
- Social media platforms may not make money in the traditional sense of sales or monthly purchases, but they harvest users data and that on itself is worth a bunch of money, not to mention having the ability to continually harvest more data.
  
  Selling that data is part of the not making profit. Aka they would need to get much more money for the data or sell a lot more. Advertisements are where most of it come from for most companies
Follow the money.
How many crayons do you have to eat to think it's a good idea to do business with tRump?

15 comments