Truth Social, the SEC and Democracy - Part 4

CAUGHT: Trump’s Hail-Mary Pass, but It‘s no Get-Out-of-Financial-Jail card

Read Part 1 | Read Part 2 | Read Part 3

Donald Trump’s long-stalled attempt to merge his (meager) Truth Social platform with a shell company came to a head today when shareholders voted to approve the merger of Digital World (DWAC) with Truth Social. This only occurred because three days ago the self-proclaimed “king of debt” strong-armed DWAC’s board of directors with a lawsuit that forced them to hold the vote.

If there’s a bright side to any of Trump’s successes, it’s that these mergers require a 6-month cooling off period during which there’s a hold on any stock sales. Even after that timeframe, the presumed $3 billion his shares currently represent will only be on paper.

At this time, DWAC shares are trading in the $41 to $42 range but they have fluctuated wildly. In December 2023, they were $16 a share with a very, very brief high of $55 a share in mid-January. Like all things stock-market driven, it’s anyone’s guess what they might be worth in six months.

As of now, the GOP presidential nominee appears to be in hot water complaining about his financial woes.


Post submitted by Barbara Holzer, a volunteer with The Union

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