Page 53 of 53 FirstFirst ... 343484950515253
Results 521 to 522 of 522

Thread: (Ex-)President Trump

  1. #521
    Senior Member Verđandi's Avatar
    Join Date
    Nov 2002
    Last Online
    Wednesday, September 12th, 2018 @ 03:42 PM
    Ethnicity
    Germanic
    Country
    Luxembourg Luxembourg
    Location
    Asgĺrd
    Gender
    Age
    37
    Family
    Two sisters
    Occupation
    Wyrd-weaver
    Posts
    10,227
    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    685
    Thanked in
    450 Posts

    Trading of Trump Social Media App-Linked Stock Halted Repeatedly After Turning Into Memestock



    On Wednesday, former president Donald Trump announced plans to launch a new social media platform known as ‘TRUTH Social’ in early 2022, with his Trump Media & Technology Group merging with Digital World Acquisition Corp (DWAC) to form a new publicly traded company. The company initially hoped to raise about $1.7 billion in capital.

    Trading of the Trump social media platform-linked special-purpose acquisition company DWAC was halted repeatedly in Friday morning trading on the Nasdaq amid volatility believed to be associated with the stock’s popularity on r/wallstreetbets, the Reddit subreddit responsible for the buying frenzy involving videogame retailer GameStop earlier this year.

    The shell company’s share price skyrocketed by over 350 percent in Thursday trading, and surged by over 200 percent Friday before correcting, closing at $45.50 per share yesterday and currently trading at about $82.40 as of noon today.
    According to Yahoo Finance’ data, the SPAC has become the single most actively traded stock on Fidelity, with its market cap reaching upwards of $4.7 billion, and CNBC attributing the skyrocketing price mostly to small-time investors - like those who rallied GameStop before regulators stepped in to end the fun amid fears that r/wallstreetbets could destabilize the market.

    "r/wallstreetbets has been pushing DWAC heavily over the past 48 hours, with users posting a steady stream of meme-fueled posts promoting the company, thanking “Daddy Trump” for their windfalls, encouraging comrades to “buy the dip,” and turning the stock into a stonk – i.e. a memestock, or stock whose worth is determined as much by its status as an internet meme as its anticipated market value."

    Stocktwits.com, an online platform focusing on market-related social media chatter, recorded a 9,000%+ surge in interest with DWAC.

    It remains unclear whether Donald Trump or his company, the Trump Organization, has any stake in the SPAC is not clear. However, Patrick Orlando, DWAC’s CEO, is believed to have made some $420 million in trading from his holdings amid Thursday’s price surge.

    Trump announced the creation of his ‘TRUTH Social’ platform on Wednesday, boasting that it would serve as a “rival to the liberal media” and “fight back against the ‘Big Tech’ companies of Silicon Valley.”

    The app, expected to be rolled out in early 2022, follows efforts by smaller social media companies like Parler and GETTR to woo Trump and his supporters after the former president was banned from Twitter, Facebook and Instagram in the wake of the 6 January chaos outside the Capitol complex. A beta version of TRUTH Social is expected to debut next month.

    Sputniknews

  2. #522
    Senior Member
    Theunissen's Avatar
    Join Date
    Aug 2017
    Last Online
    3 Days Ago @ 09:41 PM
    Ethnicity
    Germanic
    Ancestry
    North Western Europe
    Country
    South Africa South Africa
    State
    Transvaal Transvaal
    Location
    South Africa
    Gender
    Posts
    1,039
    Thanks Thanks Given 
    400
    Thanks Thanks Received 
    664
    Thanked in
    412 Posts
    Apparently this https://truthsocial.com/ is the social media site (to be).

    Anyone already signed up there?

Page 53 of 53 FirstFirst ... 343484950515253

Similar Threads

  1. President Trump
    By schwab in forum The United States
    Replies: 11
    Last Post: Friday, February 15th, 2019, 07:11 PM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •