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Haha, Trump increased his shares to 1 Billion shares, from 78 million. Squeezig everyone else out.
Also, Truth Social values itself at $4Billion, LOL.
It seems nothing here smells right, from the valuation of the company to somehow Trump declaring he has 1 billions shares of the company.
How in the holy hell can that dumpster fire of a social media site be worth $4billion????
IDK, but let me know when that IPO hits, because I'm ready to short like crazy!
The spac IPO took place a couple years ago.
You're talking about the de-spac, when the two companies merge and DW becomes public.
Might be similar to selling books or shoes. It'll be bought to give way more money than otherwise would be allowed. A wealthy donor might not be allowed to send the money directly. So they buy loads of books/shoes/etc.
I mean... Trump has access to A LOT of idiots that would buy his turds. He could probably sell some overvalued shares to them.
Stock split to make him feel important. I'm guessing, of course. Plus he probably thought this make the company more valuable.