Former Wall Street banker Stephanie Ruhle explains.
intercst
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read that TFG had option to pick up 21 million more shares of DJT via warrants. Think the warrants were priced at around $13 each. That is about 50% off of current price, so seemingly a no-brainer move to buy. But I’m thinking that these additional shares would be subject to the same 6 month hold time as all of his other shares. They’ll probably be worth pennies per share once TFG is eligible to sell. So TFG might not buy them, and he’ll start making comments about how he is protecting existing shareholders by not diluting them, lol.
Sure is looking like only a very few insiders are going to be making money on DJT. And the only reason they are going to make money is that they initially were granted/given shares, and they will bleed all of the $200 million ( raised from IPO, the company sure as heck hasn’t accumulated any retained earnings, lol ) that is sitting in DJT treasury via inflated salary and bonuses. Standard operating procedure for everything TFG does. He is even using the same stock symbol initial ( DJT) that he used in the 1990’s for his bankrupt casinos. In that deal, TFG paid himself exorbinant salary & bonuses, and offloaded debt laden garbage “assets” onto the DJT public company.
Anybody buying this garbage is proving the con mans adage that " a sucker is born every minute"
The last time a Trump company went public it didn’t go well for investors (nbcnews.com)
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so just came across this TMF article, the explanation of the warrants is different than what I previously read. Still bad for everybody but TFG, lol. This is all academic to me, have never had any interest in putting a single penny behind any venture put out by TFG. His track record speaks for itself.
Why Trump Media & Technology Group Shares Plunged Today | The Motley Fool
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