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Oh. Another tabloid reader.
Sounds like someone is on the payroll.
He's not laughing.
https://www.businessinsider.com/accounting-firm-ditched-truth-social-after-less-than-a-year-2024-4 WithumSmith+Brown quit being the auditor for Trump Media just months after being appointed.
The firm didn't want to be associated with Donald Trump and his company, per the Financial Times.
Trump Media's share prices have plunged in the weeks since it went public.Â
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The accounting firm that was first hired to audit former President Donald Trump's social media company quit just months after it was appointed, the Financial Times reported on Monday.
WithumSmith+Brown was appointed to vet Trump Media & Technology Group's financials soon after it was founded in early 2021. But the firm resigned before the end of 2021, the FT reported citing people familiar with the matter.
According to the FT's sources, WithumSmith+Brown no longer wanted to be associated with Trump and his company after several months on the job.
The accounting firm declined to comment on why it had resigned when approached by the FT.
"Apparently, the Financial Times' business model is to charge its subscribers $75 per month for the privilege of reading outdated stories touting irrelevant information," Trump Media said in a statement to the FT.
In January 2022, Trump Media instead turned to a smaller accounting firm to conduct the audit, BF Borgers, which has less than stellar record with regulators. The Public Company Accounting Oversight Board said it identified multiple deficiencies in every audit it had reviewed from BF Borgers in the past two years, per Bloomberg.
BF Borgers was also removed from the American Institute of Certified Public Accountants' peer review program in November "because the firm was found to be so seriously deficient in its performance that education and remedial, corrective actions are not adequate."
Representatives for BF Borgers did not respond to FT's request for comment.
The news surrounding Trump Media's auditors come amidst a volatile time for the company's stock price.
The company's shares initially skyrocketed when it went public in March, only for prices to plunge just a week later. Trump Media's shares had fallen again on Monday, per Axios.
That isn't great for Trump, whose net worth is tied to his holdings in Trump Media. The former president's net worth went up by more than $4 billion when the company's shares rallied, only for him to be kicked off Forbes' list of the world's 500 wealthiest people when it went into freefall.
A sustained rally would have provided a much needed boost for Trump's finances, considering his growing legal debts. Trump had a posted a $175 million bond on April 1 for his New York civil fraud case. He was originally supposed to pay a bond of $454 million before an appeal courts reduced the amount.
Trump is also on the hook for $83.3 million in defamation damages to E. Jean Carroll, a writer that a jury ruled last year he had sexually abused.
And on Monday, Trump appeared in a Manhattan court for his first criminal trial. Prosecutors have accused Trump of falsifying his businessHB records in order to cover up a sex scandal with a porn star, Stormy Daniels.
Representatives for WithumSmith+Brown and Trump Media & Technology Group did not immediately respond to a request for comment from Business Insider sent outside regular business hours.
I thought this was the stock board
Correct but I say it was a good option and investing for growth seems nonexistent.
The only option was to short this from the start
They have no money.
All investors forgot about his previous stock scam that tanked also
That wont stop this Scam from tanking. More than a 10% loss everyday. This is like his last ticker scam.
That wont stop this ticker from tanking everyday.
That means you dont want your social security or nedicare.
His previous stock WAS A SCAM imo and a money grab. With the criminal cases he is involved in right now and what is coming and this ticker is the same as the previous which IS A SCAM imo. It is going to fail likely. He is suing his partners for DTJ so they wont collect funds they are entitled to and mad he cant cash in from the idiots putting money into this stock. That's so cliche of him. Such a criminal thought process on everything he does.
CGC was at $21 or $22 over a week ago. It is now at over $11 a share. ACB has not been great on the books but lets stop pretending this is an isolated ticker that's not doing well. The entire market is down.
Shorts are making money on all stocks that you can short as long as someone will take that bet.
I've been following them for a while and that is likely a lie. They've done nothing but scam folks. They haven't produced income for years. FDBL is just a shell for them. Not buying that bit at all.
Yes.
They need to stop scamming folks. They have a looooong history of it.
Folks should get over the Kaepernick thing. That was like a couple of years ago. No one cares about that anymore. He made Nike money at the time and they continue to make money like always. Stock is doing great. Perhaps this is more about losing on a short bet or not picking up shares when opportunity came knocking.
China, can you hack Nike and find dirt on them? Now he chooses to speak.
So you just seem upset that Nike made money. I would also if I made a bad bet. Good luck to you.
Please post the link
Looks like shorts are really trying. Not sure why.
As the stock is 5% up still. Phony news.
China Sales Lift Nike's Results -- WSJ
Source: Dow Jones News
By Kimberly Chin and Khadeeja Safdar
This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (September 25, 2019).
Sales at Nike Inc. jumped 7% in the latest quarter, boosted by large sales gains in China and showing the region's strength as a growth driver despite trade tensions with the U.S.
Nike's Greater China revenue climbed 22% to $1.68 billion. The company, which doesn't own factories, produces about 25% of its global apparel and footwear in China.
On Tuesday, Chief Executive Mark Parker said the company has experienced double-digit-percentage growth in the region every quarter for more than five years. "Nike is a brand of China for China and the results continue to prove it out," he said on a call with analysts.
Meanwhile, revenue in Nike's North American market, which accounts for the majority of total sales, rose roughly 4% to $4.29 billion. Overall sales increased to $10.66 billion from $9.95 billion a year earlier and exceeded analysts' estimates of $10.44 billion for the quarter ended Aug. 31.
Mr. Parker said the company's international and digital businesses grew 16% and 42% respectively, and its women's business was helped by sporting events over the summer, such as the Women's World Cup soccer tournament.
Nike has been investing heavily in its apps, including its main shopping app and a SNKRS app, just for selling sneakers. Mr. Parker said the company has more than doubled its users across all of its apps over the past three years.
Shares of Nike, which have gained 18% this year, rose more than 5% in after-hours trading.
The Beaverton, Ore.-based company's profit was $1.37 billion, or 86 cents a share, up 25% from a year earlier. Analysts were expecting per-share earnings of 71 cents, according to FactSet.
Selling and administrative expense increased 9% for the quarter.
Write to Kimberly Chin at kimberly.chin@wsj.com and Khadeeja Safdar at khadeeja.safdar@wsj.com
Colin Kaepernick's Nike ad wins Emmy for outstanding commercial
https://www.cnn.com/2019/09/15/entertainment/nike-ad-emmy-win-trnd/index.html
Nike and Adidas. That's it really. They run the market. No one else compares. Under armour shoes are a joke but has good apparel. Puma is trying to make a push but wont surpass them. They tried years ago. Now to the investor I dont think nike is hurting any of them. Some smaller companies like Puma may be a nice investment because the price so low now but I think a company like this is a fad so get while it lasts before the next think come along and they go away. Nike has always been been protestors and have never changed. Kap thing has almost been a year ago and the more time that goes by the more people wont care.
Sketchers? Those are for the elderly and only buy once every 5 years or so. Most of their customers are millennials who couldn't care less about what pisses people off. Nike has been doing the same thing for years. A couple of cops or firefighters stopped. So what. Nike doesn't care because people complaining aren't or never were consistent customers.
how many are ticked off? Does it outweigh sales? Only one other company even can compare and that would be Adidas. No other company is even close. And they make the products in china, Vietnam, Indonesia. Not many make it in the US. They've had qtrs exceeding goals and just short. Kinda like every other company. Meanwhile nike stock is moving up.
But they do need revenue
Again. No one is falling for it. I'd rather pay attention to the actual business part which isn't much.
No one will fall for that.
Some cant get right unless something is wrong.
Yes they are. Keep watching
Or maybe because the whole sector is falling.
It's like people don't understand the whole market is down.
#NOBODYCARESABOUTASCAM
$6 on the bid