value in the stock declined to $3.7 billion from over $6 billion last week. The end-day total marks a major decline from its peak of $10 billion last week., is the most “shorted” stock on Wall Street — one investors are betting on to fail, according to theTrump himself holds 60% of the stock, a percentage he must hold for six months after the beginning of public trading, as is a stipulation of Trump Media’s board. Despite owning most of the stock, Trump is not on the seven-member board.
Last Tuesday, its first day, Trump Media was valued at roughly $8 billion, greater than respected companies such as Mattel and Western Union.By the end of the first trading day, Trump Media closed at $57.99, a gain of 16% after extreme volatility. Trump helped create Truth Social after he was banned from Twitter, his favorite platform for about a decade, in the aftermath of the Jan. 6 Capitol riot. Though his ban was rescinded after Tesla CEO Elon Musk bought the platform, he has decided to stay with Truth Social.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Liberal Media Scream: ‘Bloodbath’ is what media are doing to TrumpThis week’s Liberal Media Scream focuses on the media and President Joe Biden’s distortion of former President Donald Trump’s warning of an economic “bloodbath” if he’s not returned to the White House to stop China’s dumping of autos in the U.S. under Biden.
Source: dcexaminer - 🏆 6. / 94 Read more »
Trump Media merger wins investor approval, netting Trump potential windfallTrump will own about 60 percent of the company, which at Digital World’s current share price would be worth about $3.3 billion.
Source: washingtonpost - 🏆 95. / 72 Read more »
Trump social media stock skyrockets in first day of tradingJason Abbruzzese is the assistant managing editor of tech and science for NBC News Digital.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »
EBOE approves personnel actionsTrump Media & Technology Group, the owner of Trump's struggling social media platform Truth Social, is on the cusp of going public next week. If shareholders vote to approve Trump Media's merger, Trump will own shares worth more than $3 billion at current market prices.
Source: dothaneagle - 🏆 337. / 59 Read more »
Donald Trump Is Poised to Pocket Billions in a Meme Stock Media MergerThe former president has kept his finances in the dark. But now he’s pressed for cash and Truth Social could be the answer.
Source: VanityFair - 🏆 391. / 55 Read more »
DWAC stock tumbles more than 12% after Trump social media merger approved by shareholdersDonald Trump stands to reap a windfall of $3 billion or more after Digital World Acquisition Corp. shareholders voted to merger with his social media company.
Source: NBCNewYork - 🏆 270. / 63 Read more »