Trump Media and Tech Group (NO Politics Allowed) (DJT)

[oystersnbeer]

Trump's Shady Media Shell Company Could Lose Its Place on the Stock Market

Digital World Acquisition Corp. hasn't paid the necessary fees to keep its position on Nasdaq, according to an SEC filing.

If I were Trump, at this point I wouldn’t be smiling about my media company.

Digital World Acquisition Corp. (DWAC), the Donald Trump-backed shell company angling to take the former president’s social media platform Truth Social public, has run into yet more trouble. The corporation has been warned it is in danger of being delisted from the NASDAQ stock exchange

Amid all the investigations, DWAC can’t complete its intended acquisition of TMTG. The company has had to repeatedly extend its deadline for the merger, and has struggled to maintain shareholder support as the deal drags on. The shell corp has lost more than 84% of its total stock value over the past year, even despite a value bump following the announcement of Trump’s 3rd presidential run. Clearly, the company has been financially floundering. In September 2022, DWAC downgraded its official address from an office space to a Miami post office box.

Truth Social itself has also not been doing so hot. It briefly experienced a jump in users and downloads following the FBI raids on Trump’s Mar-a-Lago home in August, however download numbers have since fallen back down to below 200,000 per month, That’s compared with more than 40 million estimated Twitter monthly active users in the United States. Trump will be freed from his truth social exclusivity agreement in June, and is reportedly eager to get back to his tweeting roots.

If the looming Nasdaq delisting doesn’t do it, then a Trump departure from Truth could easily be the nail in the coffin for the DWAC/TMTG merger saga. Without Trump, his social platform only has his biggest fans. And what are they without the blowhard himself?

https://gizmodo.com/donald-trump-truth-social-nasdaq-stock-market-1850172813