Please ignore the man behind the curtain claiming "Trump is about to get $3 billion richer after deal is approved to take his company public."
"SEC filings indicate Trump Media’s revenue amounted to just $1.1 million during the third quarter. The company posted a loss of $26 million that quarter."
"Not only that, but Truth Social appears to be shrinking. The number of Truth Social’s US monthly active users on iOS and Android is down 39% year-over-year."
As soon as the 6-month lock-up period is done and founders can finally cash out their shares, there will be a race to the exits.
#OrangeMussolini used his initials as the stock ticker. I just can't wait to share the graph showing DJT stock in freefall. You can't make this shit up.
If Truth Social was loosing cash so rapidly, how could Trump keep it afloat up until the recent IPO? According to the Guardian, by borrowing millions from a Russian shell company controlled by Postolnikov — a guy whose name is listed on FBI search warrants in an ongoing money laundering investigation.
If all of this is true, the movie about the takedown Comrade Trump appears to write itself.
@randahl
I've been following this shitshow for quite a while now. I never believed the merger would actually happen until it did, and I still think the SEC never should have given the green light for it.
I wrote about the link between TMTG and Paxum Bank back in October 2023:
"In 2022, the Southern District of New York investigated TMTG for money laundering, after finding it received a $8 million in loans: $2 million from Paxum Bank, based in Dominica and chartered under the Offshore Banking Act No. 8 of 1996. Paxum is partially owned by a former Russian government official who now runs a maritime agency under the jurisdiction of the Ministry of Transport of the Russian Federation. The other $6 million came from “ES Family Trust” which shared a director with Paxum."
I always thought the shareholder value cartoon was pure satire, but this suggestion that Danish investors should invest in oil shares from Danish bank Saxo is naked tragi-farce..
(Especially when considering vulnerability of country to #SeaLevelRise)
#WallStreet Bet Big on Used-Car #Loans for Years. Now a Crisis May Be Looming.
The used-car market’s hot streak may be ending as borrowers struggle to make payments and regulators say some auto lenders are “setting up consumers to fail.”
I don't love the idea of my money going to fund the companies destroying the world, but most mutual funds seems to do that, and the banks, who knows what they do?
So I've started #investing a bit of my money in solar panel infrastructure trough #Trine. They show me exactly where my money goes, and to what: Installing rooftop solar!
I'm supposed to get my money back w/interest, but there's ofc a risk. But the risk from investing in world destroyers is worse, IMO.
#Tesla’s Profit Fell 55%, Adding to Concerns About Its Strategy
The first-quarter results will very likely fuel worries that competitors will continue grabbing a bigger slice of a #market dealing with slowing #ElectricCar sales.
After first identifying the startup phenomenon of "Unicorns," Cowboy Ventures' Aileen Lee is back with another take.
A decade later, she found the number of unicorns has grown, though many are at risk of falling out. And OpenAI is poised to become the first "superunicorn" thanks to AI.
For two consecutive quarters, generative #AI dealmaking at the earliest stages has declined, dropping 76% from its peak in Q3 2023 as wary investors sit back and reassess following the initial flurry of capital into the space.
'The Diverse Investing Collective has launched a data dashboard that measures how much money is in the hands of gender-diverse and racially diverse portfolio management teams.... The initial version of the dashboard focuses on gender and a second version that will provide data on race and ethnicity in addition to gender will be released later in 2024.'