Trump Stock Hits New Low on 1st Day He Can Sell
Originally posted by Adam_PoE
Shares of Trump Media & Technology Group dropped more than 13% on Tuesday, continuing the stock's tumble following the conviction of Donald Trump, the company's majority shareholder. Trump Media shares, which trade under the ticker "DJT," are down about 40% since May 30th, when a New York jury found Trump guilty of 34 felony counts of falsifying business records.The company on Tuesday also amended its registration statement to warn investors that there is little the company can do to stop Donald Trump from using other social media platforms, beyond the company's signature Truth Social network. Such a scenario, the company cautions "could have a material adverse effect on the business and/or operations of TMTG."
Another Trump business venture is crashing and burning, leaving CEO Devin Nunes fuming, and 600,000 MAGATard investors broke.
Shares of Trump Media & Technology Group slumped to their lowest level ever Friday, the first trading day that its biggest shareholder, Donald Trump, is free to sell his stake in the company behind the Truth Social platform.
Shares of Trump Media, commonly called TMTG, tumbled almost 8% to close at $13.55, putting the value of the company at less than $3 billion. Trump owns more than half of it.
When the company made its debut on the Nasdaq in March, the shares hit a high of $79.38. Friday's closing price represents a decline of 83% from that peak. It lost nearly $58.2 million last year while generating only $4.1 million in revenue.
Truth Social COO Resigns
Originally posted by Adam_PoE
Shares of Trump Media & Technology Group slumped to their lowest level ever Friday, the first trading day that its biggest shareholder, Donald Trump, is free to sell his stake in the company behind the Truth Social platform.Shares of Trump Media, commonly called TMTG, tumbled almost 8% to close at $13.55, putting the value of the company at less than $3 billion. Trump owns more than half of it.
When the company made its debut on the Nasdaq in March, the shares hit a high of $79.38. Friday's closing price represents a decline of 83% from that peak. It lost nearly $58.2 million last year while generating only $4.1 million in revenue.
The chief operating officer of Truth Social's parent company has resigned and the company must hand over almost 800,000 shares to one of its investors as part of a court ruling, according to a regulatory filing.
COO Andrew Northwall resigned from Trump Media & Technology Group Corp. late last month, according to the Securities and Exchange Commission filing, adding that the company plans to "transition his duties internally."
Late last month, Trump Media's stock fell to its lowest level ever on the first trading day that its biggest shareholder, Donald Trump, was free to sell his stake in the company behind the Truth Social platform.
Truth Social Partner in Sex Workers, Drugs, and Gambling Scandal
Originally posted by Adam_PoE
The chief operating officer of Truth Social's parent company has resigned and the company must hand over almost 800,000 shares to one of its investors as part of a court ruling, according to a regulatory filing.COO Andrew Northwall resigned from Trump Media & Technology Group Corp. late last month, according to the Securities and Exchange Commission filing, adding that the company plans to "transition his duties internally."
Late last month, Trump Media's stock fell to its lowest level ever on the first trading day that its biggest shareholder, Donald Trump, was free to sell his stake in the company behind the Truth Social platform.
Partners at the Wall Street firm backing Donald Trump's social media platform Truth Social used company funds to pay for strippers, prostitutes, illegal drugs, and millions of dollars in gambling.
EF Hutton is also being investigated for securities fraud, and investors have accused its brokers of pushing speculative investments, according to competing lawsuits filed by two of the firm's partners.
After X banned Trump in 2021 for lying about the 2020 election results, most banks avoided deals involving him. But in October of 2021, Trump announced the formation of Trump Media & Technology Group through a merger with a shell company underwritten by EF Hutton.
Gleaned from Jack Smith's court filings:
-Trump used a burner phone, routed through a foreign country to contact Michigan house speaker.
-He tried to pressure the speaker in this off book call.
-Speaker McCarthy knew about the burner phone line.
-The phone showed up as “Spam Risk Egypt” on caller ID.
But yes, let's go with "official presidential duty".