DWAC is down 9% on the market today. Has Shitgibbon touched it already?

[kpete]

& down

?4.48 (10.47%)today
https://www.google.com/search?q=DWAC&sourceid=chrome&ie=UTF-8

https://www.eschatonblog.com/2024/03/sending-our-love-down-well.html#comment-6419281881

[OMGWTF]

1. Now over 10% loss. ETTD

[leftieNanner]

2. He can't sell his stocks

For six months, as an owner.

May it continue to tank!

[Gore1FL]

3. It likely has more to do with it being a shitty investment. nt

[superpatriotman]

4. He has made $3billion from this pump and dump

I am so sick of this guy and his scams.

A six month share lockup means little when the board is controlled by him.

[lame54]

6. His pumpin' days are over...

But he's still dumpin'

[karynnj]

8. Until he sells it, it is not clear how much he made

He can't sell for 6 months after he gets the stock. If this were not someone like Trump, the fact that Truth Social has not made money, the stock would be worthless. The problem is the price is whatever the buyers will pay. Given that he is a corrupt man who could be President again, the "value" is not related to the value of truth social, but the value of the "goodwill" of Trump.

[superpatriotman]

9. He can privately sell or hypothecate shares to high bidder

Musk was with him weeks ago and could have easily negotiated purchase of the controlling shares in a private transaction.

Shares would still be locked up, but they’re his to do with whatever he wants.

This guy is the luckiest sonofabitch in history.

[usedtobedemgurl]

12. Please forgive my ignorance.....

But what is the difference between you cannot sell stocks for 6 months and you cannot sell stock for 6 months but you for some reason it is sold to a private buyer? Either way you are selling it. Isn’t that not allowed? And would the overseer the judge put over Trump in NY know about this? Wouldn’t he get in trouble if the overseer caught the sale and reported him?

Thanks for any info you can provide. I sometimes have a hard time understanding.

[BlueKota]

5. 🤣

[link:

?si=Jbd9BtVV-3IJI4rU|

[Girard442]

7. One wonders if Putin or the Saudis will buy enough stock to keep the price high.

l

[LetMyPeopleVote]

10. DWAC closed at 36.94 and was down 5.87-Meme stock rely on the greater fool theory and no one wants to be the last to buy

Last edited Sat Mar 23, 2024, 01:31 PM - Edit history (1)

Meme stocks rely on the greater fool theory. I was amused to see that DWAC/Trump Media is classified as a meme stock where the value is due to personality and not due to the real value of issuer of the meme stock. This article is a good discussion of the meme nature of DWAC/TMT.
https://www.vanityfair.com/news/donald-trump-truth-social-media-merger

Trump’s financial future now hinges on some of the strangest fads in corporate finance—meme stocks, SPAC deals, and cult-of-personality investing. If Trump can find a way to act fast, it might just be the bailout he desperately needs.

Truth Social is a bad imitation of Twitter, where Trump was an unavoidable presence long before he ran for president. It’s chock full of stale red-pilled memes, MAGA conspiracy theories, and of course, Trump. That’s the main draw. Truth Social is the only place the former president now regularly posts his unfettered thoughts......

DWAC is best thought of as a meme stock. You may remember the meme stock fad from when retail investors on Reddit successfully coordinated a short squeeze with GameStop stock, before glomming onto a series of other millennial nostalgia brands like AMC Entertainment, BlackBerry, and Bed Bath & Beyond. Meme stocks are often publicly traded companies that attract an inordinate percentage of individual investors and their stock performance fluctuates in a way that’s significantly divorced from the reality of their underlying business. Combine those two trends and you’ll start to see why Trump’s media company could be valued at roughly $9 billion if it merges with DWAC.

Jay Ritter, a finance professor at the University of Florida, says meme stocks often depend on the “greater fool theory of investing,” meaning rational investors might buy in expecting the stock price to rise and betting that they can sell their shares to a greater fool willing to buy them at a higher price. In this case, however, Ritter speculates there is an inordinate number of individual retail investors compared to institutional investors, such as hedge funds, that normally own SPAC shares prior to a merger. “Here you’ve got ideology involved [too]—as far as I can tell, the vast majority of DWAC investors are Trump political investors, and they’re to some degree putting their money where their mouth is… My suspicion is most of them have bought the stock as a show of political support.” In this way, Trump is conducting yet another public fundraising from his supporters—this time through the public markets.

[0rganism]

13. DWAC: "Digital World Acquisition Corp.", currently a silly meme stock for now...

If TSF gets elected POTUS again, I fully expect this to be the organization under which his dictatorship will consolidate all US-based social media and streaming services. The name itself declares the intent, possibly so TSF can keep it straight in his faltering mind.