Judd Legum

@JuddLegum ↗

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Last Checked Aug. 29, 2022

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Tue Dec 07 12:52:43 +0000 2021

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Judd Legum @JuddLegum

6. That deal hasn't even closed yet but Digital World went from trading at $10 to $175 per share! It's now down to about $43 but that's still a big increase. Why are shares worth so much? Trump fans have essentially turned it into a meme stock. https://t.co/82VacH830w — PolitiTweet.org

Posted Dec. 7, 2021 Hibernated

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Judd Legum @JuddLegum

5. Critically, Trump has structured TMTG so it can make him a ton of money even if it never becomes a real company -- much less a profitable one. TMTG went public by merging w/a SPAC, Digital World. That transaction netted Trump about $300 million https://t.co/82VacH830w — PolitiTweet.org

Posted Dec. 7, 2021 Hibernated

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Judd Legum @JuddLegum

7. Trump is exploiting TMTG's status as a meme stock by securing $1 billion more from unnamed investors. The structure suggests these investors are interested in selling very quickly, taking advantage of retail investors willing to pay inflated prices https://t.co/82VacH830w — PolitiTweet.org

Posted Dec. 7, 2021 Hibernated