General Malaise
Footballguy
Pivot and take the LIV public. Have the social media as a byproduct.
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*****Official "Truth Social" Thread***** (Trump's social media platform) (1 Viewer)
- Thread starter squistion
- Start date
2Squirrels1Nut
Footballguy
Even for people who have based their entire personalities around yelling “LET’S GO BRANDON,” you have to wonder when the novelty of shouting into a void will wear off.
Overall, it’s pretty hard to imagine the site will ever grow into its supposed role as a worthy cornerstone in Trump’s long promised media empire. There’s also the fact that earlier this summer, Trump, along with his son Don Jr. and a handful of other associates, seemingly stepped down as “director” of the board of the Trump Media & Technology Group, the parent company behind Truth Social, according to government filings between April and July. The company has denied that the former president has abdicated his board position, claiming to Axios that Trump remains “chairman.” But as with so many things to do with Trump’s internal finances and business machinations, it’s unclear what that actually means. What is clear, however, is that the alleged departure came at roughly the same time as TMTG was being subpoenaed as part of an apparent investigation into the various corporate entities involved in taking the company public.
I'm amazed this hasn't completely imploded yet.
Bogart
Footballguy
DWAC Seeks To Delay Merger With Trump’s Truth Social Company Amid Federal Investigations
So the SPAC behind all of the funding for Truth Social has asked for stockholders to take a vote on Sept 6 to allow a year long delay in the merger between DWAC and Trump's Media Company. If voters vote yes, the merger extends out a year and we kick the can down the road of "just wait until the merger, this stock to the moon". And it's my understanding, if the voters vote no, DWAC liquidates and buys back all shares at the original price of $10 a share. I also believe that a non-vote counts as a no vote. The DWAC Truthers on TS are panicked and trying to circle the wagons to get all of their people to vote and vote the right way. Visibly on the site, a LOT of the shareholders are confused, didn't read a single thing about the risk involved and aren't really sure which way they are supposed to vote.
I think either outcome brings about the end of this whole "take over the whole Interwebs" narrative.
P.S. The streak ended, Trump got over 100k engagements on a post when he posted his statement about the raid. Pretty sure both sides of the aisle liked the post.
So the SPAC behind all of the funding for Truth Social has asked for stockholders to take a vote on Sept 6 to allow a year long delay in the merger between DWAC and Trump's Media Company. If voters vote yes, the merger extends out a year and we kick the can down the road of "just wait until the merger, this stock to the moon". And it's my understanding, if the voters vote no, DWAC liquidates and buys back all shares at the original price of $10 a share. I also believe that a non-vote counts as a no vote. The DWAC Truthers on TS are panicked and trying to circle the wagons to get all of their people to vote and vote the right way. Visibly on the site, a LOT of the shareholders are confused, didn't read a single thing about the risk involved and aren't really sure which way they are supposed to vote.
I think either outcome brings about the end of this whole "take over the whole Interwebs" narrative.
P.S. The streak ended, Trump got over 100k engagements on a post when he posted his statement about the raid. Pretty sure both sides of the aisle liked the post.
Stealthycat
Footballguy
so when Trump announces he'd running in 2024 ............ DWAC shares jump ... what ? 20% in 1 day ?? any guessing ?
General Malaise
Footballguy
Bogart, anything interesting happening on Truth Social today or is it just quiet?
Great point by the former president.
2Squirrels1Nut
Footballguy
According to Staples there are 5000 sheets of paper per carton and 40 cartons per pallet. I'm not sure how many pallets can be shipped on a trailer but for the sake of argument, let's say 15.
That means Obama took 440 trailers worth of documents. Impressive.
Joe Mammy
Footballguy
Hardly a great point. It's a whatabout that doesn't add up. From the WAPO a few minutes ago:
But that doesn’t mean it bears any resemblance to what prompted the Trump search. As was reported back in late 2016, the Obama team was transferring the records to Chicago through the National Archives, which legally owns the documents once a president leaves office. Once the documents ultimately reached a warehouse in Chicago, the Obama Foundation was then due to pay the National Archives and Record Administration to digitize the documents. The lengthiness of that process aside, there isn’t the faintest hint of legal violations — nor does the Post’s story suggest as much.
Fox News and Trump debut new baseless defense: What about Obama?
joffer
Footballguy
only thing more impressive was Donny’s health care plan
2Squirrels1Nut
Footballguy
Trump's purported free-speech social-media platform, Truth Social, is hiding user posts, threatening to create a curated 'echo chamber,' research group finds
But since its rocky start when it partially launched in February, its moderators have removed or limited the visibility of users' posts, often without explanation, according to a new investigation from the nonprofit left-leaning consumer-advocacy organization Public Citizen.
The removed or limited posts included anti-Trump content about the US House investigation of the January 6, 2021, attack on the Capitol as well as posts supporting abortion rights. It also blocked content that didn't have any clear anti-Trump or anti-conservative message, the report says.
Link
But since its rocky start when it partially launched in February, its moderators have removed or limited the visibility of users' posts, often without explanation, according to a new investigation from the nonprofit left-leaning consumer-advocacy organization Public Citizen.
The removed or limited posts included anti-Trump content about the US House investigation of the January 6, 2021, attack on the Capitol as well as posts supporting abortion rights. It also blocked content that didn't have any clear anti-Trump or anti-conservative message, the report says.
Link
Dickies
Footballguy
So about the equivalent number of documents involved in Trump’s audit.
sho nuff
Footballguy
Color me shocked that the place isn’t about free speech or the truth.
Herb
Footballguy
(HULK)
(Smash)
So, release them Donald, you literally have them and can do it.
FairWarning
Footballguy
Hard to believe the guy (Trump) that has tried to control the narrative for years, doing this?
sho nuff
Footballguy
No...not at all. Its what people predicted would happen with this or any Trump run news/media source.
Its propaganda and little more.
Bogart
Footballguy
I didn't spend much time on it yesterday. Of course everything is "planted" and "which hunt". Oh, and some MAGA old guy found my post from 2 months ago and told me to #### his #### and THEN blocked me. What a tease.
DWAC on Reddit today got super excited that there was a bump in new users following Trump (from 10,000 on average to 29,000) after the raid. Math tells me that if that happens every day, he will reach his Twitter total of 88 million in about 10.5 years.
quick-hands
Footballguy
looks like gotta get truth social
Bogart
Footballguy
No doubt you would enjoy it there.
joffer
Footballguy
Especially when their screen name is their real name.
Bogart
Footballguy
Reddit - What's Your DWAC Postion? Cost Avg.
Interesting thread. Taking their pride in how much they are down (like WSB), we are seeing almost all of those posting, have average costs between $30 and $75 cost average per share. One poster, based on current cost of $30/share is down over $419,000. But of course, has the rocket ship next to their post. Another has spent over $270,000 in warrants.
One bit of rational thinking in the thread: "74.75 a share wishing I would have sold now."
Interesting thread. Taking their pride in how much they are down (like WSB), we are seeing almost all of those posting, have average costs between $30 and $75 cost average per share. One poster, based on current cost of $30/share is down over $419,000. But of course, has the rocket ship next to their post. Another has spent over $270,000 in warrants.
One bit of rational thinking in the thread: "74.75 a share wishing I would have sold now."
2Squirrels1Nut
Footballguy
I feel horrible for these people. I sincerely do. They would be wise to sell now and take the loss before they lose it all.
massraider
Footballguy
Please. What kind of dummies would record their terrorist actions?
(HULK)
(Smash)
Ones that decide to shoot up FBI buildings and don't understand how bullet proof glass works.
Sunshine6854
Footballguy
Ugh, Trump supporters? Hasn't that been proven time and time again? It's a shame that some in this demographic are so violent and willing to hurt others in the name of Trump. Hopefully their numbers are small.
Sabertooth
Footballguy
This is finally becoming fun again.
Bogart
Footballguy
A few funny Reddit Posts from :
- Took out loans to buy DWAC. No regrets. Bought 5 moar shares today - Guy bragging about borrowing to buy DWAC. Graphic shows him down $15K
- DWAC Potential - Guy uses "math" to predict that TS is buying Twitter in October and that DWAC shares are going to reach $10K each
This sub is Bullish on DWAC - Post from the main Mod of the board, which is too ironic not to share in full, but you should also read the comments:- This is a warning to make sure your posts are bullish.
I’m seeing a ton of FUDish posts.
I’ve removed a ton of FUDish posts (always posted in off hours when Mods are sleeping… wonder why).
Going forward, if I have to remove your post, I may just ban you too.
- This is a warning to make sure your posts are bullish.
General Malaise
Footballguy
what is a FUDish post?
(HULK)
(Smash)
FUD = Fear, Uncertainty, Doubt
sho nuff
Footballguy
So...reality.
If you post in reality...your posts will go away and you may be banned.
Not so much on the free speech on that sub either I guess. Reminds me of a thread here...where if you aren't positive about a certain person...you are labeled a troll.
roadkill1292
Footballguy
FUDness definitely speaks to the amazing confidence we see in political predictions by this board's righties.
In my muddled, what-if driven brain, this has something to do with gambling on football.
In my muddled, what-if driven brain, this has something to do with gambling on football.
Bogart
Footballguy
Trump's Truth Social — where users called for violence against FBI agents — notes in its fine print that it would turn over user information to the feds
This should honestly scare some folks over there.
This should honestly scare some folks over there.
2Squirrels1Nut
Footballguy
Could Donald Trump's SPAC Deal Fall Apart? Here Are The Stakes
11:24 am ET August 18, 2022 (Benzinga) Print
One of the best-performing stocks of 2021 was a SPAC merger between former President Donald Trump’s media company and the parent company of his social media platform, Truth Social.
In 2022, however, the scenario has changed. Shares have fallen and could see further downside based on an upcoming shareholder vote.
What Happened: Digital World Acquisition Corp (NASDAQ: DWAC), which owns Truth Social, announced a SPAC merger with Trump Media & Technology Group in 2021. If the merger goes through, the combined entity would go public.
The SPAC sold 28.75 million shares in its initial public offering (IPO) counting over-allotment at $10 each.
However, Digital World recently announced a vote to extend the merger deadline one year to Sep. 8, 2023. The original deadline was Sep. 8, 2022.
Digital World Acquisition is largely held by retail traders and could struggle to generate enough votes for the extension. Without the one-year extension, the company has the ability to extend the deadline to March 8, 2023.
Failure to close the deal by the March deadline would result in liquidation.
“Digital World will be required to dissolve and liquidate its Trust Account by returning the then remaining funds in such account to the public stockholders,” according to a public filing.
Along with the extension deadline vote, Digital World also plans to delay its earnings report.
“The registrant is unable to file its Form 10-Q for the quarterly period ended June 30, 2022 within the prescribed time period without unreasonable effort or expense because additional time is needed to prepare the financial statements,” an SEC filing reads.
The company currently has a net loss of $4.7 million in the quarter ending June 30, 2022 compared to a net loss of $740 in the quarter ending June 30, 2021.
Why It’s Important: Digital World CEO Patrick Orlando is behind several SPACs and already had one liquidate its shares. Yunhong International announced in November that it would liquidate after failing to find a business combination. The liquidation was valued at around $10.31 per share.
Shareholders as of record on Aug. 12 will vote on the extension with a tentative date set of Sep. 6, 2022 to approve the one-year extension.
The Digital World Acquisition SPAC deal has faced setbacks from the start with delays in reports filed and also several investigations. The company has been tied to SEC and Department of Justice investigations, which could delay the merger getting approved. With a shortened window to get the deal to close, liquidation could become a major concern and shares could fall closer to the $10 value they would be worth in this event.
Kerrisdale Capital and former hedge fund manager Whitney Tilson are among the vocal critics of the deal ever getting approved.
“We believe $DWAC will never secure regulatory approval to close its proposed merger with Trump Media & Tech Group,” Kerrisdale previously said.
Tilson highlighted the potential violations by the company of not disclosing it held talks with a merger partner prior to the IPO.
“If the SEC acts, the reason it will cite is that there were discussions between DWAC’s CEO and representatives of Trump before DWAC’s initial price offering, which is forbidden,” Tilson said. “Mark my words, there’s no way the SEC allows this to go through.”
Legal Woes: The recent FBI raid at Mar-a-Lago also puts pressure on the SPAC. Investors, including those in the PIPE on the deal, may reconsider supporting the company.
The September merger extension vote remains a key catalyst for the company and could be a cause for alarm if the vote is not approved.
Trump is also under investigation for his role in the Jan. 6 attack on the U.S. Capitol building.
ETA
I can already hear the cries of political persecution. :(
11:24 am ET August 18, 2022 (Benzinga) Print
One of the best-performing stocks of 2021 was a SPAC merger between former President Donald Trump’s media company and the parent company of his social media platform, Truth Social.
In 2022, however, the scenario has changed. Shares have fallen and could see further downside based on an upcoming shareholder vote.
What Happened: Digital World Acquisition Corp (NASDAQ: DWAC), which owns Truth Social, announced a SPAC merger with Trump Media & Technology Group in 2021. If the merger goes through, the combined entity would go public.
The SPAC sold 28.75 million shares in its initial public offering (IPO) counting over-allotment at $10 each.
However, Digital World recently announced a vote to extend the merger deadline one year to Sep. 8, 2023. The original deadline was Sep. 8, 2022.
Digital World Acquisition is largely held by retail traders and could struggle to generate enough votes for the extension. Without the one-year extension, the company has the ability to extend the deadline to March 8, 2023.
Failure to close the deal by the March deadline would result in liquidation.
“Digital World will be required to dissolve and liquidate its Trust Account by returning the then remaining funds in such account to the public stockholders,” according to a public filing.
Along with the extension deadline vote, Digital World also plans to delay its earnings report.
“The registrant is unable to file its Form 10-Q for the quarterly period ended June 30, 2022 within the prescribed time period without unreasonable effort or expense because additional time is needed to prepare the financial statements,” an SEC filing reads.
The company currently has a net loss of $4.7 million in the quarter ending June 30, 2022 compared to a net loss of $740 in the quarter ending June 30, 2021.
Why It’s Important: Digital World CEO Patrick Orlando is behind several SPACs and already had one liquidate its shares. Yunhong International announced in November that it would liquidate after failing to find a business combination. The liquidation was valued at around $10.31 per share.
Shareholders as of record on Aug. 12 will vote on the extension with a tentative date set of Sep. 6, 2022 to approve the one-year extension.
The Digital World Acquisition SPAC deal has faced setbacks from the start with delays in reports filed and also several investigations. The company has been tied to SEC and Department of Justice investigations, which could delay the merger getting approved. With a shortened window to get the deal to close, liquidation could become a major concern and shares could fall closer to the $10 value they would be worth in this event.
Kerrisdale Capital and former hedge fund manager Whitney Tilson are among the vocal critics of the deal ever getting approved.
“We believe $DWAC will never secure regulatory approval to close its proposed merger with Trump Media & Tech Group,” Kerrisdale previously said.
Tilson highlighted the potential violations by the company of not disclosing it held talks with a merger partner prior to the IPO.
“If the SEC acts, the reason it will cite is that there were discussions between DWAC’s CEO and representatives of Trump before DWAC’s initial price offering, which is forbidden,” Tilson said. “Mark my words, there’s no way the SEC allows this to go through.”
Legal Woes: The recent FBI raid at Mar-a-Lago also puts pressure on the SPAC. Investors, including those in the PIPE on the deal, may reconsider supporting the company.
The September merger extension vote remains a key catalyst for the company and could be a cause for alarm if the vote is not approved.
Trump is also under investigation for his role in the Jan. 6 attack on the U.S. Capitol building.
ETA
I can already hear the cries of political persecution. :(
pollardsvision
Footballguy
When you can steal $300 mill from your supporters and they'll be mad at the SEC, not you, that's a pretty sweet gig if you can get it.
The Z Machine
Footballguy
I honestly never thought of that. It's the obvious end game though.
massraider
Footballguy
Freakin Deep State has their hooks into the SEC and Truth Social...
2Squirrels1Nut
Footballguy
Deep State even forcing TS to ban free speech on the platform........
Bogart
Footballguy
Trump-linked SPAC warns decline in ex-president’s popularity could hurt his social media company
This company wants to back out of this deal so bad.
This company wants to back out of this deal so bad.
Basically, his base.
The Z Machine
Footballguy
Anyone figure out how to short this thing yet????
Bogart
Footballguy
It's been my understanding from either @2Squirrels1Nut or @General Malaise that no one is taking those short buys as of right now.
2Squirrels1Nut
Footballguy
Only through puts. However I've learned, too late, some platforms had shares to borrow of the meme stocks. I tried repeatedly on TD but never any available. :(
I've made a considerable return this year on DWAC puts but most likely that will be eaten into with the September $10 options I own.
Also own December and accumulating March $10 puts when I can get the right price.
I noticed yesterday that there are $7.50 options available now as well for March which I find interesting.
I've made a considerable return this year on DWAC puts but most likely that will be eaten into with the September $10 options I own.
Also own December and accumulating March $10 puts when I can get the right price.
I noticed yesterday that there are $7.50 options available now as well for March which I find interesting.
General Malaise
Footballguy
Correct - there's no borrow available on this one and there hasn't been for months. Not a sign of a very healthy stock when the stock loan departments come back immediately with a "NO LOCATE".
Bogart
Footballguy
Truth Social Has a Content Moderation Problem - Trump’s site faces criticism for hosting violent content—and for filtering innocuous posts.
The site continues to be beyond navigation. The most current hashtags are: #FBIcorruption, #Truth, #DefundTheFBI, #FBIRaidTrump, #2000Mules, #GasPrices, #DropDisney
Search still sucks, still no private messages. Lots of open posts about filling liberals and Demorats with lead. Trump up to 3.91 million followers, but his engagement continues to go down. He is posting a lot, and I think he's just wearing everyone out, except the most Ultra Nuclear MAGA.
The site continues to be beyond navigation. The most current hashtags are: #FBIcorruption, #Truth, #DefundTheFBI, #FBIRaidTrump, #2000Mules, #GasPrices, #DropDisney
Search still sucks, still no private messages. Lots of open posts about filling liberals and Demorats with lead. Trump up to 3.91 million followers, but his engagement continues to go down. He is posting a lot, and I think he's just wearing everyone out, except the most Ultra Nuclear MAGA.
Throw it on the pile with his steaks, wine, casinos, airlines. magazine, mortgage co, University...
2Squirrels1Nut
Footballguy
Truth Social, is locked in a bitter battle with one of its vendors claiming that the platform is stiffing the company out of more than $1 million in contractually obligated payments, FOX Business has learned.
I'm shocked anyone would do business with Trump. This is what he does and hailed as a great businessman because of it.
I'm shocked anyone would do business with Trump. This is what he does and hailed as a great businessman because of it.
