TeamDML offers insights, opinions, podcasts, videos and other forms of content intended to educate and better explain trending news that is made available to the public by third parties. In this particular case, we refer to an excerpt from Breitbart:
The merger of Truth Social’s parent company and the special purpose company set up to acquire it was completed Monday.
Shares of the combined company, which will be named Trump Media & Technology Group, are expected to begin trading on the Nasdaq stock exchange under the ticker symbol DJT.
TMTG, as a publicly traded company, will continue to be led by Chief Executive Officer, Devin G. Nunes, and its existing management team.
The report quotes Nunes as promising, “As a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors. We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors.”
The Wall Street Journal reported:
Truth Social will have a market value of roughly $6.8 billion when it begins trading, a staggering valuation for a company that has had about $5 million in sales and tens of millions of dollars in losses since its launch in 2021.
“I LOVE TRUTH SOCIAL!” Trump declared in a post Saturday morning.
Truth Social goes public tomorrow, $DWAC is currently at $50 and will change to ticker $DJT tomorrow.
That’s over $4 billion valuation for Trump.
Anyone else buying a few shares? pic.twitter.com/7Uvj7ITk85
— TaraBull (@TaraBull808) March 25, 2024
MSNBC has having a conniption:
Anyone who thinks that Truth Social is a good stock buy, keep in mind that President Trump will own the majority of the shares, and if he’s reelected, he will ethically and legally need to divest from them.
That means that if Trump does the ethical thing, he would have to sell… pic.twitter.com/ygoimC6v0O
— Ed Krassenstein (@EdKrassen) March 25, 2024
To get more information about this article, please visit Breitbart. To weigh in, leave a comment below.
The post REPORT: Truth Social acquisition closes, to begin trading as DJT appeared first on Dennis Michael Lynch.
Click this link for the original source of this article.
Author: Online
This content is courtesy of, and owned and copyrighted by, https://dennismichaellynch.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.