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BillBrasky Memorial Political Chat Thread

recently watched the 30 rock episode where Jenna is misquoted as hating the troops and goes on her apology tour, which ends with the burning swastikas that fuel the right-wing rage and it's kinda crazy how fast we've moved on from this perception that nazism is offensive to the right
 
MichDeac25 said:
Exactly. Also, do these investors just not care about their money at all? They're going to lose it all.
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I don’t really understand the connection between an obvious shell company, Digital World Acquisition Group, merging with Trump Media, at whatever value they claim it is -to them, and the stock of the merged company going public at that rate. Where did this IPO come from, and if the value is so obviously inflated then why won’t it just immediately drop to its real value?
 
Kind of surprised a Lee Greenwood Bible took so long.
 
myDeaconmyhand said:
I don’t really understand the connection between an obvious shell company, Digital World Acquisition Group, merging with Trump Media, at whatever value they claim it is -to them, and the stock of the merged company going public at that rate. Where did this IPO come from, and if the value is so obviously inflated then why won’t it just immediately drop to its real value?
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Yeah, I don't understand it either. Typically when companies go public, there's a pretty thorough due diligence of the financials (or so I thought). There's zero chance this was done with Truth Social.
 
Does the SEC have any teeth to do something about it or will it be like everything else and get delayed to all hell with Trump hoping he can just shut it down when in office
 
If this shell company literally bought out Trump’s holdings of Trump Media/Truth Social at a crazy valuation that netted him billions of dollars, I would understand that math, but this seems to be some weird case of Trump keeping his holdings in Truth Social, but the value of the company being massively inflated suddenly because of the merger. I don’t understand that could legitimately happen, without Trump needing to immediately unload his shares at the inflated value. That would be a major crime, right?
 
myDeaconmyhand said:
If this shell company literally bought out Trump’s holdings of Trump Media/Truth Social at a crazy valuation that netted him billions of dollars, I would understand that math, but this seems to be some weird case of Trump keeping his holdings in Truth Social, but the value of the company being massively inflated suddenly. I don’t understand that could legitimately happen, without him needing to immediately unload it at the inflated value. That would be a major crime, right?
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crimes literally do not matter for Trump. only every other person.
 
The SPAC was already a public entity holding like cash that is merging with a non public company truth social. So now the combined company will be still that public listing. This was a popular way to backdoor go public the past few years as I recall. Avoids the scrutiny of directly going public yourself and a much quicker process.

Someone else can probably better explain the SPAC process than what I just rambled off the top of my head. And if you’ve read this far know that it’s possible I’m wrong and sorry for wasting your time.

Guessing that once these shares are trading the existing (Russian? Chinese? Saudi?) investors will sell at whatever the stock’s initially at and then mom and pop trumper investors will hold this shit when the bottom quickly falls out.
 
06deacon said:
The SPAC was already a public entity holding like cash that is merging with a non public company truth social. So now the combined company will be still that public listing. This was a popular way to backdoor go public the past few years as I recall. Avoids the scrutiny of directly going public yourself and a much quicker process.

Someone else can probably better explain the SPAC process than what I just rambled off the top of my head. And if you’ve read this far know that it’s possible I’m wrong and sorry for wasting your time.

Guessing that once these shares are trading the existing (Russian? Chinese? Saudi?) investors will sell at whatever the stock’s initially at and then mom and pop trumper investors will hold this shit when the bottom quickly falls out.
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So just bringing the grift to the stock exchange.
 
Seems like it’d end up with the perfect marks too…folks who are already unwilling to admit that trump has taken them for a ride.
 
From the BBC article. TLDR. grift grift grift grift grift:

www.bbc.com

Trump poised for billions as stock market deal passes

Trump's social media firm has been acquired - a deal that could produce a windfall as he fights legal penalties.
www.bbc.com www.bbc.com
Analysts said Digital World was a prime example of a "meme stock", in which the share price is divorced from a company's fundamentals - and near-destined to fall, eventually.

"With Trump Media, I expect that it will collapse but whether it's going to occur a week from now or two years from now and how rapidly... those things are really difficult to predict," said University of Florida finance professor Jay Ritter, who tracks public listings.

Whatever is motivating buyers, Mr Trump, whose main contributions to Trump Media have been his name and posts on the platform, appears poised to be the top beneficiary.
"It's an enormous transfer of value from [investors]... to Trump, which stands to be extremely lucrative for him," says Michael Ohlrogge, a law professor at New York University who has studied listings of companies such as Trump Media.
 
So this 3-4 billion dollar gain that’s being attributed to Trump from this merger is completely dependent upon him unloading his shares in the small window of time while the company maintains its obviously bullshit valuation.
 
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