Trump Media auditor warns that losses 'raise substantial doubt' about company's ability to continue
The Truth Social parent, which trades under the stock ticker DJT, said it lost more than $58 million last year.
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'If' Trump plans to sell the stock, of course be plans to, he doesn't care about it long term for potential real money. Also it's the only reason it's going public so he can cash out. He can buy more ways to whine his festivus grievances if he has real cash when it goes under.
Is there any way to know if Trump has actually sold his stock? Unsure how that stuff is reported but I sort of assume there're records of who (or what shell companies) own them.
I believe he is locked in on something along the lines of a 6 month cliff. This doesn't mean he can't use those rights/ options as leverage however. There might be some extremely questionable state actors for whom a couple billion in leverage against a US president is considered buying at a discount.
I thought the 6months was unless the board allowed it, the board that is mostly (all?) staffed by cronies that are there for that sort of thing.
Cronies yes, but it’s my understanding (and the understanding of several journalists) that letting Trump sell his stock would be such a wildly disastrous move for them financially that it’s unlikely. Like - they would be better off just donating the money to him themselves
If I was a shareholder and the board let Trump sell his shares early I would be suing the fuck out of them as well.
What if it's his family? Look at who they are
Well. It’s not. So there you go?
Insider transactions are subject to public filing laws. The fly in the ointment is how reliably Trump is subject to law enforcement.
I keep wondering why Spez was allowed to sell the same week that the Reddit IPO went live, but Trump can’t do the same.
I think those were put up as part of the initial offering. I think he's limited on any additional sells.
Wall Street must want to own reddit more than it wants to own shares of "DJT"; spez got a better deal.