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Trump Media shares halted again as DJT falls in volatile trading (www.cnbc.com)

submitted 14 hours ago by Rapidcreek@lemmy.world to c/politics@lemmy.world

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[-] Jagothaciv@kbin.earth 18 points 9 hours ago

Saw this somewhere else:

For those not familiar with the stock market, this was clearly telegraphed when his media company used a SPAC.

When a company goes public (IPO), they have to file with the Securities and Exchange Commission. The process is pretty rigorous and has standard forms that you need to fill out or hurdles that you need to get over: Company financials and future growth strategy Corporate governance

Risks and issues both internal and external Lots of stuff on tech readiness, vulnerabilities and the like.

The bigger the company the harder this is to do correctly, and the more external companies you'll need to verify and underwrite your findings. But let's say you have a poorly structured company you want to take public. DodgyCo will never get through the IPO gauntlet, so you create a Special Purpose Acquisition Company (SPAC) called CleanCo. They have fantastic technology methodology, a strong board and TONNES of funding. CleanCo sails through all the SEC gates and Monday morning they go live on the stock market.

Monday afternoon CleanCo buys out DodgyCo, effectively making DodgyCo public without the hassle of actually having to operate like a grownup company.

This is what Trump Media Company did.

[-] Talaraine@fedia.io 3 points 8 hours ago

I could have sworn I just saw an article touting that Trump Media was now worth more than X though? Can someone ELI5?

[-] Rapidcreek@lemmy.world 14 points 13 hours ago

As soon as it's clear Trump will not be returning to the White House, the value of the stock will plummet to near zero. There will be a few dead cat bounces, but it will go away for good once Harris is sworn in

[-] Cornelius_Wangenheim@lemmy.world 6 points 11 hours ago

Unfortunately, it'll probably continue to exist as a way to launder foreign bribes to Trump. Even if Trump soundly loses, he'll still be a useful propaganda mouthpiece.

[-] Rapidcreek@lemmy.world 2 points 11 hours ago

It will be delisted.

[-] deegeese@sopuli.xyz 2 points 11 hours ago

Delisted based on…?

That stock will have value so long as Trump needs to launder money.

[-] athairmor@lemmy.world 3 points 10 hours ago

Yeah, but if Trump loses he becomes near worthless to anybody that is paying him. He’s not going to run in 2028. I doubt he’ll be physically able to. He’ll be abandoned (or worse) by Putin/Xi/Saudis. He’ll have his cult but his handlers will be looking for the next Trump.

[-] MediaBiasFactChecker@lemmy.world 1 points 14 hours ago

CNBC - News Source Context (Click to view Full Report)

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MBFC: Left-Center - Credibility: High - Factual Reporting: Mostly Factual - United States of America

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https://www.cnbc.com/2024/10/31/trump-media-shares-halted-again-as-djt-falls-in-volatile-trading.html

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this post was submitted on 31 Oct 2024

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