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Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading

 
Anonymous Coward
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04/02/2024 06:56 PM
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Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Former President Donald Trump was set to reap a multibillion-dollar payday from the initial public offering (IPO) of Trump Media and Technology Group (TMTG). But now, it looks like the stock could be worth a fraction of what it initially traded for by the time he can actually capitalize on it.

The stock (trading as "DJT" on the Nasdaq Composite) has already lost nearly $4 billion in value after its first week of trading, cheapening the value of Trump's shares in the company. As a result of the stock's poor performance, Trump has personally lost $1 billion in his estimated net worth as $DJT continues to crater. This has resulted in Trump lashing out at his partners in the business venture, attempting to zero out their shares as punishment for allegedly setting up the company improperly.

Bloomberg reported Tuesday that Trump sued Andy Litinsky and Wes Moss in Florida state court in an attempt to have the court give him their combined 8.6% stake in TMTG, which is worth over $600 million. The former president alleges that Litinsky and Moss botched the establishment of the company's corporate governance structure and mishandled its merger with a special purpose acquisition company (SPAC) earlier this year dubbed Digital World Acquisition.

Trump's lawsuit in Florida comes after Litinsky and Moss filed their own lawsuit against the former president in Delaware Chancery Court in February. The two investors accused Trump of orchestrating a scheme to "drastically dilute" the value of TMTG's shares in what they referred to as "11th hour, pre-merger corporate maneuvering." While Trump initially had control of 90% of the company and had 78 million shares in the company, his business partners alleged that he tried to inflate the number of shares to one billion, which would have reduced their stake to less than 1% of the company.

Trump's business partners alleged that the former president's schemed to artificially create new shares to possibly then give to himself and his family members.

[link to x.com (secure)]
Anonymous Coward
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04/02/2024 06:58 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
epiclol
Anonymous Coward
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04/02/2024 06:59 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
He’s trying to shaft his partners to bleed more money out of this for himself.

Why do people continue to partner with this man in any kind of business arrangement.
Anonymous Coward
User ID: 87005149
Australia
04/02/2024 07:02 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading


And he still begs his broke followers for more money

No photo proof those on GLP donate to him
Anonymous Coward
User ID: 78404389
United States
04/02/2024 07:04 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
The co-founders of Truth S are learning all about the scorpion & the frog.

Anonymous Coward
User ID: 81100979
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04/02/2024 07:04 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Grifter sues everyone he know.
Anonymous Coward
User ID: 78404389
United States
04/02/2024 07:07 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
TS total revenue last year ($4.8M) was only one million more than the average McDonalds restaurant. It lost $53 million.

The stock is worthless anyway.
Anonymous Coward
User ID: 86793477
United States
04/02/2024 08:51 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Former President Donald Trump was set to reap a multibillion-dollar payday from the initial public offering (IPO) of Trump Media and Technology Group (TMTG). But now, it looks like the stock could be worth a fraction of what it initially traded for by the time he can actually capitalize on it.

The stock (trading as "DJT" on the Nasdaq Composite) has already lost nearly $4 billion in value after its first week of trading, cheapening the value of Trump's shares in the company. As a result of the stock's poor performance, Trump has personally lost $1 billion in his estimated net worth as $DJT continues to crater. This has resulted in Trump lashing out at his partners in the business venture, attempting to zero out their shares as punishment for allegedly setting up the company improperly.

Bloomberg reported Tuesday that Trump sued Andy Litinsky and Wes Moss in Florida state court in an attempt to have the court give him their combined 8.6% stake in TMTG, which is worth over $600 million. The former president alleges that Litinsky and Moss botched the establishment of the company's corporate governance structure and mishandled its merger with a special purpose acquisition company (SPAC) earlier this year dubbed Digital World Acquisition.

Trump's lawsuit in Florida comes after Litinsky and Moss filed their own lawsuit against the former president in Delaware Chancery Court in February. The two investors accused Trump of orchestrating a scheme to "drastically dilute" the value of TMTG's shares in what they referred to as "11th hour, pre-merger corporate maneuvering." While Trump initially had control of 90% of the company and had 78 million shares in the company, his business partners alleged that he tried to inflate the number of shares to one billion, which would have reduced their stake to less than 1% of the company.

Trump's business partners alleged that the former president's schemed to artificially create new shares to possibly then give to himself and his family members.

[link to x.com (secure)]
 Quoting: Anonymous Coward 84274728


BREAKING:TDS TAKES ANOTHER LOW IQ GLP'er.
Anonymous Coward
User ID: 86260670
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04/02/2024 08:55 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Now that's funny
Anonymous Coward
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United States
04/02/2024 08:58 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
So. Much. Losing.

The LOSING just never seems to end.
Anonymous Coward
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04/02/2024 09:01 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Wait, four billion?

Isn't that the exact amount his wealth was to increase from this deal eventually?

His this just a cover for him to slip away with investors losing at his expense???
Anonymous Coward
User ID: 80761553
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04/02/2024 09:02 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Got the shit shorted out of it.

It like him has a real value of zero.
Anonymous Coward
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04/02/2024 09:02 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
minus zero
Humanitarianlike

User ID: 87013084
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04/02/2024 09:05 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
https://imgur.com/6URZiaK
Anonymous Coward
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04/02/2024 09:07 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Now that's funny
 Quoting: Anonymous Coward 86260670


Actually, it's very sad

verysad
Anonymous Coward
User ID: 85463441
United States
04/02/2024 09:15 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Now that's funny
 Quoting: Anonymous Coward 86260670


Actually, it's very sad

verysad
 Quoting: Anonymous Coward 74461421
Anonymous Coward
User ID: 86374935
United States
04/02/2024 09:18 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Now that's funny
 Quoting: Anonymous Coward 86260670


Actually, it's very sad

verysad
 Quoting: Anonymous Coward 74461421


I'm about 1200 dollars in the red on my DWAC investment.

HUGELY regret not selling s few days ago when it went over $70 per share.

Yeah, I feel foolish for investing in Trump.
Anonymous Coward
User ID: 85463441
United States
04/02/2024 09:26 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Now that's funny
 Quoting: Anonymous Coward 86260670


Actually, it's very sad

verysad
 Quoting: Anonymous Coward 74461421


I'm about 1200 dollars in the red on my DWAC investment.

HUGELY regret not selling s few days ago when it went over $70 per share.

Yeah, I feel foolish for investing in Trump.
 Quoting: Anonymous Coward 86374935


We must be the swamp he pledged to drain.
Anonymous Coward
User ID: 80011922
Romania
04/02/2024 09:36 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Now that's funny
 Quoting: Anonymous Coward 86260670


Actually, it's very sad

verysad
 Quoting: Anonymous Coward 74461421


I'm about 1200 dollars in the red on my DWAC investment.

HUGELY regret not selling s few days ago when it went over $70 per share.

Yeah, I feel foolish for investing in Trump.
 Quoting: Anonymous Coward 86374935


We must be the swamp he pledged to drain.
 Quoting: Anonymous Coward 85463441


Oh, my. 4 chan Munchkin clowns pretending they are financial advisors.

You could invest more in illegals and sleeper cells to genocide Americans.

I suggest you upgrade that 9mm you got at Wal Mart to heavier caliber.

You are going to need it in the Biden sponsored race war.

You got that flannel shirt boy attitude.

Anonymous Coward
User ID: 80011922
Romania
04/02/2024 09:36 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading


And he still begs his broke followers for more money

No photo proof those on GLP donate to him

 Quoting: Anonymous Coward 87005149


Oh my. GLP has to be one of the strangest forums around. Filled with "right wing" ACs spouting left wing rhetoric.

Strange indeed, and people notice that its a psyops.

Thank GLP management. No other forum would tolerate Patriot Fr0nt for a minute.



Anonymous Coward
User ID: 87013008
India
04/02/2024 09:40 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Fair value $34.81 on investing.com pro.
Currently $51.60
Looks grim
popcorn
Anonymous Coward
User ID: 85432225
United States
04/02/2024 10:19 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
...


Actually, it's very sad

verysad
 Quoting: Anonymous Coward 74461421


I'm about 1200 dollars in the red on my DWAC investment.

HUGELY regret not selling s few days ago when it went over $70 per share.

Yeah, I feel foolish for investing in Trump.
 Quoting: Anonymous Coward 86374935


We must be the swamp he pledged to drain.
 Quoting: Anonymous Coward 85463441


Oh, my. 4 chan Munchkin clowns pretending they are financial advisors.

You could invest more in illegals and sleeper cells to genocide Americans.

I suggest you upgrade that 9mm you got at Wal Mart to heavier caliber.

You are going to need it in the Biden sponsored race war.

You got that flannel shirt boy attitude.


 Quoting: Anonymous Coward 80011922


chandler-stfu
Anonymous Coward
User ID: 87013305
United Kingdom
04/02/2024 10:20 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
epiclol
 Quoting: Anonymous Coward 85352697


hesright

I don't know who's jewing who anymore.
Anonymous Coward
User ID: 74910360
United States
04/04/2024 12:49 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
lol for those thinking he lost 4 billion.. this is where money corrupts the soul.. He started at gaining 4 billion which was due to getting 79,000,000 shares at his entry price of roughly 51.. the stock quickly bubbled to 75 in one day which was caused by the trump excitement.. however due to negative speculation as well as losses shown by Trump media, it came crashing down to about 46.. So the drop from 75 shows Trump has lost nearly 3 billion.. but its not really a loss.. if you look at his starting cost its a loss of a paltry $300MM
Anonymous Coward
User ID: 74910360
United States
04/04/2024 12:51 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
I do feel Trump is speculating that he will lose entirety or near entirety of his entire $4 billion new fortune before his stocks are vested.. so he is suing in advance...
Anonymous Coward
User ID: 87018395
United States
04/04/2024 12:58 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
honk honk honk honk honk honk honk honk honk honk

afro
Anonymous Coward
User ID: 85637857
United States
04/04/2024 01:01 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
He is returning to twitter
Anonymous Coward
User ID: 79399915
United States
04/04/2024 01:10 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
LOL BS...Nice try TDS tard.

bsflag
Anonymous Coward
User ID: 85637857
United States
04/04/2024 01:12 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
TRUMP-wng1
Anonymous Coward
User ID: 83002458
Canada
04/04/2024 01:26 PM
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Re: Donald Trump sues his Truth Soc partners after the stock loses $4 billion in first week of trading
Why do you guys want this asshole as your president? It’s just one problem after another after another after another with him. I recognize that Biden is a poor alternative, but surely you all want to be free of this nonsense too!





GLP