If the SPAC is approved this week, he could potentially use the stock as collateral to get a bond and avoid having properties seized or declaring bankruptcy by next week’s deadline.

  • GrymEdm@lemmy.world
    12·
    3 months ago

    If Truth Social is under-performing and the stock is being inflated as a bet on the coming election, isn’t this just the latest version of “the value is so much higher than people think” that got Trump in trouble in NY in the first place? I wonder if any financial companies are willing to bet on Truth Social to the tune of hundreds of millions of dollars (in the next few days no less), especially given that the article states Trump may just dump the stocks for what he can get ASAP in Sept/Oct.

    It’s going to be interesting if, come election time in November, many MAGA supporters end up holding Truth Social stocks that are worth small fractions of what they are buying them for now.

    • xmunk@sh.itjust.works
      61·
      3 months ago

      IPOs are fucking complicated but as long as the financial records are accurate and it’s just idiots overvaluing his brand then it isn’t fraud on his part but idiocy on others. Most big tech IPOs initially deflate - some do so dramatically… it’s probably something we should change as a society but that’s honestly just par for the stock market bullshit course.

      • GrymEdm@lemmy.world
        3·
        3 months ago

        Fair enough. So not actually fraud so much as people making…let’s call it “questionable” decisions to maintain civility.