As of March 25, 2024, Digital World Acquisition Corp. was acquired by Trump Media & Technology Group Corp., in a reverse merger transaction. Digital World Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to identify on technology-focused companies in the SaaS and technology, or fintech and financial services sector in the Americas. The company was incorporated in 2020 and is based in Miami, Florida.
In my opinion, Trump Media's existing business model is unsustainable and faces significant risks. Truth Social, Trump's social media platform, struggles to attract a broad audience and lacks user engagement. Shorting Trump Media shares is unwise due to high borrowing costs, and buying shares is not recommended due to the company's flaws and uncertain future viability.
The auditing firm for Donald Trump's Trump Media & Technology Group (DJT) and other companies, BF Borgers, as well as its owner Benjamin Borgers, were fined and banned for life by regulators who accused them of “massive fraud.”
The auditor of Donald Trump's Trump Media has been charged with “massive fraud” by the Securities and Exchange Commission (SEC), which says the company “undermined trust and confidence in our markets.”
Stocks are up today and investors wondering why have come to the right place as we have the latest details behind Friday's rally! One of the reasons that stocks are up today comes from Apple (NASDAQ: AAPL ).
Trump Media & Technology (NASDAQ: DJT ) stock is in the news Friday after the auditor BF Borgers CPA was hit with charges from the Securities and Exchange Commission (SEC). The charges against the auditor and its owner include massive amounts of fraud that affect more than 1,500 SEC filings.
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Former President Donald Trump's net worth ticked up over $400 million on Thursday as shares of the parent company behind his social media platform Truth Social shot up over 8%, giving the 2024 GOP presidential nominee his latest windfall, though he will not be able to liquidate that windfall just yet, even as he's ordered to pay over $550 million in three civil judgments.
Donald Trump is the majority shareholder in Trump Media and best-known user of its Truth Social app. When DJT shares fall, his net worth can take a bit hit.