The… ticker symbol #DJT, last price $31.45 — is something unprecedented in financial or political history. It represents a company, #Trump Media & Technology Group, that has a single product,…Truth Social. The business operates at a staggering loss & is widely considered worthless. But the stock, DJT, has a market capitalization of roughly $6B.…Its value is purely a proxy for Trump’s political power.
#criminal #law #corruption#FEC
#VoteBlue#Harris2024
https://nymag.com/intelligencer/article/donald-trump-truth-social-djt-stock-corruption.html
Taking #Trump public may not have been possible w/o the rise of an obscure financial instrument, the special-purpose-acquisition company [#SPAC]. In 2020, the pandemic stock market was surging, & the perception among entrepreneurs was that SPACs let private companies get in on the action quicker & w/less #oversight than the traditional way of going public, the #IPO.