The Wall Street debut of Donald Trump’s Truth Social network could give him stock worth billions of dollars on paper.
The Truth Social account for former President Donald Trump is seen on a mobile device, Wednesday, March 20, 2024, in New York. Trumps Truth Social looks set to hit Wall Street in a move that could give him stock worth billions of dollars on paper. But the former president likely cant cash it out right away, unless some things change. – But the former president probably will not be able to cash it out right away, unless some things change.
For investors, SPACs offer a way to get into hyped, potentially faster-growing companies such as TMTG, the DraftKings betting service or SoFi banking.It happens, but only rarely. This vote looks likely to pass given how high Digital World’s stock has jumped on excitement about Trump. It was trading Thursday above $40 per share. It's already up roughly 140% so far this year, towering over the 10% gain for the S&P 500 index.
Investors under the lock-up deal cannot sell, lend, donate or encumber their shares for six months after the close of the deal. Legal experts say “encumber” is a powerful word that could prevent Trump from using the stock as collateral to raise cash before six months have elapsed. But if the value of Trump’s brand is key to the company’s success, and if easing the lock-up agreements could preserve that brand, it could make for a case that would at least spare board members' lawyers from getting laughed out of court immediately.
One risk, the company said, was that as a controlling stockholder, Trump would be entitled to vote his shares in his own interest, which may not always be in the interests of all the shareholders generally.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Trump Hit With Harsh Truth After Harsh Truth From Former Voters In Scathing AdsSpanish/English journalist covering a wide range of topics -- from breaking news and politics to popular culture, street art, memes, satirical takes, environmental issues, social media trends and more.
Les mer »
Wall Street debut of Trump's Truth Social network could net him stock worth billions on paperThe Wall Street debut of Donald Trump’s Truth Social network could give him stock worth billions of dollars on paper.
Les mer »
Wall Street debut of Trump's Truth Social network could net him stock worth billions on paperThe Wall Street debut of Donald Trump’s Truth Social network could give him stock worth billions of dollars on paper.
Les mer »
Trump's Financial Future Hinges on Truth SocialTrump's lawyers insinuated that he doesn’t even have $450 million. The answer might lie in Truth Social, the social media app that Trump and his associates started after he was booted from Twitter. Trump's financial future now hinges on meme stocks, SPAC deals, and cult-of-personality investing.
Les mer »
Donald Trump asked Elon Musk if he wanted to buy Truth SocialThe overture to Musk, whose business empire includes SpaceX, Tesla and the social networking site X, did not lead to a deal.
Les mer »
Reddit power users balk at chance to participate in IPO as Wall Street debut nearsReddit is inviting some users to participate in its IPO this week, but moderators told CNBC that they’re not taking the company up on its offer.
Les mer »