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This week the Securities and Exchange Commission inexplicably approved the merger between Truth Social’s parent company, Trump Media and Technology Group (TMTG), and Digital World Acquisition Corp (DWAC), the shell company that Trump hopes to use to get a stock market listing. That news contributed to DWAC’s stock price tripling since the beginning of the year ($16.00- $48.00). Or maybe it was because the Biden-Harris campaign created a Truth Social account and began posting a few weeks ago.<\/p>\n
SEE THIS: The Biden Campaign is Now on Trump\u2019s Truth Social For Your Entertainment Pleasure<\/a><\/strong><\/p>\n However, no one but confirmed Trump Cult devotees should be jumping into this stock if they care about preserving their money. A quick look at the company’s prospectus should frighten off any astute investors. Some of the risks disclosed in the prospectus were reported by MarketWatch<\/a><\/strong><\/p>\n “Truth Social, his would-be Twitter rival, is a high-risk, speculative operation with few hard numbers behind it. It\u2019s already the subject of subpoenas, from regulators and a grand jury, even though it\u2019s barely off the ground. Oh, and Trump is not required to use the social-media site much \u2014 if at all \u2014 to communicate with the public, notably if voters were to return him to the White House. You buy the stock at your own peril.”<\/p>\n [And…]<\/p>\n “Digital World has been in trouble with the Securities and Exchange Commission, and recently agreed to pay $18 million to settle fraud charges relating to this potential merger.”<\/p>\n [And…]<\/p>\n “A number of companies that were associated with President Trump have filed for bankruptcy…There can be no assurances that TMTG will not also fail.”<\/p><\/blockquote>\n The prospectus also discloses the six bankruptcies among Trump’s hotels and casinos, and other business failures, such as his airline, vodka, steaks, mortgage, and travel agency. Also mentioned was his fraudulent university that was ordered to pay $25 million in compensatory damages. The article didn’t mention his bogus charity that was also fined and shuttered.<\/p>\n Furthermore, the prospectus included a section enumerating Trump’s numerous pending criminal cases. The 91 felony charges included everything from financial fraud, to inciting a violent insurrection, to threatening election officials, to stealing (and perhaps disseminating) classified documents. And let’s not forget his being found civilly liable for rape<\/a><\/strong> and ordered to pay $354 million for falsifying his financial statements<\/a><\/strong>.<\/p>\n MarketWatch noted that TMTG reported a measly 8.9 million users. But that’s okay because it “believes that adhering to traditional key performance indicators, such as signups, average revenue per user, ad impressions and pricing, or active user accounts”<\/em> is a distraction.<\/p>\n Perhaps they are figuring in Trump’s “brand”<\/em> value. Although on that measure, the prospectus says that Trump is only “required to post certain of his social-media messages there first…And the Truth Social exclusivity on each post only lasts for six hours. [and he] can even cancel this agreement with 30 days\u2019 notice, ‘at any time on or after February 2, 2025.'”<\/em> Which is suspiciously just two weeks after Inauguration Day.<\/p>\n The recent surge in DWAC’s stock should be regarded with ample amounts of skepticism. The stock has had similar spikes – and subsequent declines – several times. Investors and Trump Cult disciples who bought in at $170.00 a share are still seriously screwed. But maybe they continue to believe that Trump can earn it all back with his latest business venture: grotesquely gold “Never Surrender”<\/em> sneakers…<\/p>\n Trump only has to sell 875,000 pairs of his $400.00 "Never Surrender" high top sneakers to pay off his $350 million dollar fraud penalty.https:\/\/t.co\/5kFd29ErcJ<\/a><\/p>\n — News Corpse (@NewsCorpse) February 18, 2024<\/a><\/p><\/blockquote>\n\n