DIRS.INFO The most relevant business & tech news

☆ Some Trump stock investors have already lost half their money
▼ + stars: | 2024-04-12 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Trump Media & Technology Group are in free fall. Trump Media is now trading below $31. Trump owns a dominant stake of 78.8 million shares in the company, which generates little revenue and is losing users. At the closing high for Trump Media’s stock price, the former president’s stake was valued at $5.2 billion. Trump Media disclosed losing $58 million in 2023 on very light revenue of just $4.1 million.

Persons: Donald Trump’s, Trump, ”, Shannon Devine, Capital’s Matthew Kennedy, Billionaire Barry Diller, ” Shannon Devine, it’s Organizations: New, New York CNN, Trump Media & Technology Group, Trump Media, Nasdaq, Trump, Big Tech, ” Trump Media, CNN, Expedia, People Magazine, IAC, CNBC Locations: New York

☆ Energy stocks are hot again. The rally could have more fuel to burn
▼ + stars: | 2024-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

These robust gains come after a lackluster year for energy stocks. The energy sector fell roughly 5% in 2023, underperforming the broader S&P 500’s double-digit gains as concerns about the global economy hurt energy demand. Some investors say that energy stocks are poised for more gains, given the continued geopolitical turmoil and the US economy’s resilience. Energy stocks often do well when the economy is strong, since there’s more energy demand to fuel goods- and services production. Plug Power shares have slipped 34% this year, SolarEdge Technologies shares have tumbled 25% and Enphase Energy shares have slid 8%.

Persons: Nancy Curtin, “, ”, Bob Doll, he’s, Donald Trump, Trump, Matt Egan, ” Alex Durante, Read, Alicia Wallace, Price Organizations: CNN Business, Bell, New York CNN — Energy, Marathon Petroleum, Exxon Mobil, Occidental Petroleum, Halliburton, West Texas, Brent, Federal Reserve, Energy, RBC Capital Markets, Crossmark Global Investments, Organization of, Petroleum, Clean Energy, SolarEdge Technologies, Enphase Energy, Tax Foundation, CNN, Trump, of Labor Statistics, PPI Locations: New York, Ukraine, OPEC, China, Mexico

☆ Burnout fears force bosses to explore a four-day workweek
▼ + stars: | 2024-04-12 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —Burnout is such a problem for workers that some bosses are considering shrinking the length of the workweek. “It’s way too early to declare the four-day work week part of the future. Some companies that have experimented with shorter workweeks are sticking with it. “My guess is a widespread four-day workweek could be years away – if ever,” he said. “It’s possible that generative AI might make the four-day workweek more realistic,” Knopp said.

Persons: ” Paul Knopp, Knopp, It’s, ”, “, don’t, haven’t, ” Knopp Organizations: New, New York CNN, KPMG, CNN, Gallup Locations: New York, United States, Europe, United Kingdom

☆ How Trump’s tariff plans could kill jobs and worsen inflation
▼ + stars: | 2024-04-11 | by ( Matt Egan | ) edition.cnn.com time to read: +10 min

Trump has floated a 10% across-the-board tariff on imports, a 60% tariff on imports from China and a 100% tariff on foreign cars – including from Mexico. Trump’s proposals, if enacted, could easily set off a new trade war with China and potentially other nations, too. Some economists are warning Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors. It’s hard to say exactly because there is a lot of uncertainty over how much of Trump’s proposed agenda would actually be enacted. That’s because tariffs tax imports when they come ashore, adding costs for US distributors, retailers and, ultimately consumers.

Persons: he’s, Donald Trump, Trump, ” Alex Durante, Trump’s, ”, Mark Zandi, Goldman Sachs, ” Goldman Sachs, Jan Hatzius, ” Goldman, Janet Yellen, Joe Biden’s, Karoline Leavitt, ” “, ” Leavitt, “, Biden, “ Donald Trump, ” Biden, James Singer, Biden’s, That’s, Durante, Joe Brusuelas, don’t, ” Brusuelas, Brusuelas, Liz, Maury Obstfeld, Obstfeld, Obama, ” Durante Organizations: New, New York CNN —, Tax Foundation, CNN, Trump, China, Bureau of Labor Statistics, Federal Reserve, RSM, Target, Walmart, Peterson Institute for International Economics, International Monetary Fund, US International Trade Commission, “, Obama Locations: New York, China, Mexico, Beijing, United States

☆ The stock market is shrinking and Jamie Dimon is worried
▼ + stars: | 2024-04-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Jamie Dimon, one of the world’s most influential business leaders, is worried. The PE boom: The shrinking public market has private equity to blame — funds that pool money from investors to acquire or invest in companies. When a PE fund buys a public company, it takes that company private. The number of private companies in the US backed by PE firms has grown from 1,900 to 11,200 over the last two decades, according to JPMorgan data. Dimon’s company, of course, makes a huge amount of money from taking companies public, so he’s not exactly an impartial observer.

Persons: Jamie Dimon, ”, Matthew Kennedy, Dimon, “, it’s, Russell, Lewis, Glass Lewis, Wells, aren’t, Matt Egan, Donald Trump’s, That’s, Reddit, —, Read, Biden, Joe Biden’s, Sam Fossum, Anna Cooban, ” Biden Organizations: CNN Business, Bell, New York CNN, JPMorgan Chase, JPMorgan, Renaissance, PE, ” Companies, Companies, Harvard Law, Corporate, Institutional, Services, Deutsche Börse, Peloton Capital, CNN, ISS, Social, Trump Media & Technology Group, Trump, Trump Media, Twitter, White, Taiwan Semiconductor Manufacturing Company Locations: New York, United States, America, German, Arizona, ”

☆ Why Trump Media & Technology Group’s stock price is so volatile
▼ + stars: | 2024-04-09 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

You might miss a massive move in Trump Media & Technology Group’s stock price. Trump Media is so turbulent that it makes bitcoin’s volatility look tame. There are many reasons why Trump Media shares have been so volatile, including the fact that the company is inextricably linked to the former president. This dynamic makes it easier for investors to place bullish bets, sending Trump Media shares surging. But that has been trickier with Trump Media, allowing its stock to spike in its early days.

Persons: Donald Trump, it’s Trump, ”, Matthew Tuttle, Michael Ohlrogge, Matthew Kennedy, Kennedy, “, it’s, Bob Sloan, Tuttle, Charles Schwab, ” Tuttle, Ohlrogge, Trump, Renaissance’s Kennedy, Jonathan Macey, ” Macey Organizations: New, New York CNN, Trump Media & Technology, Trump Media, Trump, Tuttle Capital Management, Trump Media’s, NYU School of Law, Similarweb, Renaissance, Facebook, Meta, “ Traders, Companies, S3 Partners, CNN, NYU, MBT, Yale Law School Locations: New York

☆ Oil price surge is the No. 1 threat to the US economy, Moody’s economist warns
▼ + stars: | 2024-04-08 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

But there is a growing threat to that sunny economic backdrop: surging oil prices. Global oil prices are flirting with $92 a barrel amid worries about a wider war in the Middle East. US oil prices surged above $87 a barrel late last week for the first time since late October, leaving them up about 21% this year. First, drone attacks on oil refineries deep inside Russia helped lift oil prices last month. Beyond the Middle East tensions, oil and gas prices have been boosted by OPEC and its allies, which continue to restrain supply.

Persons: “, ”, Mark Zandi, Moody’s, Donald Trump, Trump, ” Zandi, hasn’t, Andy Lipow, Brent, ” Helima Croft, Joe Brusuelas, ” Brusuelas, Brusuelas, Vincent Reinhart, Mellon, ” Reinhart, he’s, Patrick De Haan, ” De Haan Organizations: New, New York CNN, Federal Reserve, Wall, CNN, “, Iranian Revolutionary Guards, Lipow Oil Associates, CIA, RBC Capital Markets, RSM, AAA, OPEC, Lipow Locations: New York, Iran, Russia, Syria, Israel, Quds, “

☆ Trump’s net worth has tumbled by $2 billion since Truth Social stock peaked last month
▼ + stars: | 2024-04-08 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —Shares of Trump Media & Technology Group continue to rapidly fall back to Earth. Trump owns a dominant stake of 78.8 million shares in Trump Media, which launched in 2021. Last week, Trump Media disclosed losing $58 million last year on very light revenue of just $4.1 million. After its first day of trading, Trump Media was valued at as much as $11 billion. Despite the recent losses, shares of Trump Media and the blank check company it merged with have more than doubled this year.

Persons: Donald Trump’s, That’s, Reddit, – Organizations: New, New York CNN, Trump Media & Technology Group, Trump, Trump Media, Twitter Locations: New York

☆ Trump Media stock sinks to post-merger low
▼ + stars: | 2024-04-05 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

CNN —Shares of Truth Social owner Trump Media & Technology Group tumbled 12% on Friday, sinking to their lowest level since the company went public last week. Despite this week’s losses, Trump Media shares have still spiked by more than 130% so far this year. Trump Media recently disclosed losing $58 million last year on very light revenue of just $4.1 million. Barry Diller, the billionaire chairman of Expedia and People Magazine owner IAC, told CNBC on Thursday that Trump Media is a “scam” and people buying the stock are “dopes.”“I mean, it’s ridiculous,” Diller said on CNBC. “The company has no revenue.”A Trump Media spokesperson denounced critics of the company.

Persons: Donald Trump’s, Barry Diller, ”, ” Diller, Trump, ” Shannon Devine Organizations: CNN, Social, Trump Media & Technology Group, Trump Media, Nasdaq, Trump Media’s, Wall Street, Expedia, People Magazine, IAC, CNBC Locations: ”

☆ 3 things rattling markets this week
▼ + stars: | 2024-04-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 tumbled the first two trading days of the new quarter and is down 0.8% for the week after paring back some of its losses on Wednesday. Some Fed officials revealed at the central bank’s policy meeting last month that they see fewer rate cuts than the three they forecast last December for 2024. Traders see a 63% expectation that the Fed cuts rates in June, a drop from more than 70% a week earlier, according to the CME FedWatch Tool. “With Middle East tensions on the rise, OPEC+ supply side measures have pushed crude oil volatility down,” BofA strategists wrote in a Wednesday report. “Adding to a complex backdrop, we now estimate that improving economic growth expectations have helped push global oil markets into a deficit.”The price of gold has also climbed this week.

Persons: New York CNN — Stocks, “, ”, Brent Schutte, Jerome Powell, •, Loretta Mester, Raphael Bostic, Brent, Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, Matt Egan, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ” Read, Joe Biden, Sean Lyngaas, China Nicholas Burns, Antony Blinken, Read Organizations: CNN Business, Bell, New York CNN —, Treasury, FactSet, Northwestern Mutual Wealth Management, Hawkish, San Francisco Fed, Stanford University, Wednesday, • Cleveland Fed, Atlanta Fed, CNBC, Traders, Organization of, Petroleum, West Texas, Brent, Bank of America, Trump Media, Trump Media & Technology Group, DWAC, Southern, of, Acquisition Corporation, “, Microsoft, US, Department of Homeland Security, CNN Locations: New York, OPEC, Florida, of New York, Washington, China

☆ Two investors in Trump Media insider trading case plead guilty
▼ + stars: | 2024-04-03 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

The two brothers were arrested in June and charged with illegally trading on nonpublic knowledge of a shell company’s secret plan to buy Trump Media & Technology Group, the parent company of struggling social network Truth Social. Shares of the shell company, Digital World Acquisition Corporation, spiked after the blank-check company publicly announced an agreement to merge with Trump Media. Trump owns 78.8 million shares in Trump Media, a stake valued at about $4.1 billion. The defendants passed the secret information about the impending Trump Media deal to friends on. There was no allegation in the indictment that Trump himself had any involvement in the alleged insider trading scheme.

Persons: Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ”, Trump, Michael Shvartsman’s, Gerald Shvartsman’e, CNN’s Kara Scannell Organizations: New, New York CNN, Trump Media & Technology Group, DWAC, Trump Media, Southern, of, Acquisition Corporation, “, Truth, Trump, Digital Locations: New York, Florida, of New York, Las Vegas

☆ It’s jobs week. Here’s what to watch for
▼ + stars: | 2024-04-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Welcome to jobs week. Fed Chair Jerome Powell said last week that a weakening labor market would be a reason to reduce interest rates. It’s hard to imagine that this jobs report will substantially move the needle on Fed policy, said Michael Brown, a senior research strategist at Pepperstone. The Conference Board’s February Consumer Confidence survey found that “Consumers’ appraisal of the labor market was more positive in March” than in previous months. The week ahead: While the main event this week is Friday’s jobs report, there’s plenty of other jobs data this week for traders to grab on to.

Persons: Jerome Powell, I’ll, nonfarm, ”, Dave Sekera, “, ‘, we’re, Goldman Sachs, Michael Brown, Powell, Brown, It’s, Donald Trump, Matt Egan, Trump, That’s, Natasha Chen Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Goldman, Labor, Stanford, Social, Trump Media & Technology Group, Trump Media Locations: New York, ”, California

☆ Truth Social owner Trump Media sues two of its own co-founders, seeking to wipe out their shares
▼ + stars: | 2024-04-02 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

CNN —Trump Media & Technology Group, the Truth Social owner controlled by former President Donald Trump, recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company. The lawsuit marks the latest twist in the legal saga surrounding the quest to bring Trump Media and Truth Social public — a deal that has spiked Trump’s net worth and created a frenzy on Wall Street. Trump Media filed a lawsuit on March 24 in Florida state court against Andy Litinsky and Wes Moss, two co-founders of Trump Media. The lawsuit states that Litinsky and Moss were to receive 8.6 million shares in the new company, through United Atlantic Ventures. Trump owns 78.8 million shares in Trump Media, which went public last week.

Persons: CNN —, Donald Trump, Andy Litinsky, Wes Moss, “ Moss, Litinsky, Moss, Maruf Organizations: CNN, CNN — Trump Media & Technology Group, Trump Media, Truth, United Atlantic Ventures, Bloomberg News, Trump Locations: Florida, Moss, Delaware

☆ How Trump managed to lose $1 billion in net worth in a single day
▼ + stars: | 2024-04-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

That’s kinda what happened for investors in Trump Media & Technology Group, the troubled owner of Truth Social, on Monday. Even with Monday’s stumble, the stock is still up about 200% over the past six months, giving it a $6.6 billion valuation that defies logic. Trump Media, aka TMTG, generated just $4.1 million in revenue last year. But if history repeats, or even echoes, with Trump Media, investors may want to buckle up. Bottom line: Monday’s slump is hardly game over for Trump and his social media company.

Persons: CNN Business ’, Wile, Coyote, Monday’s, Matt Egan, It’s, ” Axios, Dan Primack, “, Donald Trump, David, dusts Organizations: CNN Business, New York CNN, Trump Media & Technology Group, Truth, Trump Media, GameStop, Trump Locations: New York, selloff

☆ General Electric, once America’s iconic everything company, has completed its dismantling. Here’s what that means
▼ + stars: | 2024-04-02 | by ( Chris Isidore | Matt Egan | ) edition.cnn.com time to read: +4 min

The company was founded by Thomas Edison in 1892 and built into the world’s largest and most valuable company by the once legendary, but now oft-criticized CEO Jack Welch. General Electric home appliances are displayed for sale at an appliance store in San Jose, California, in 2019. But the despite the name, the company had already sold off its appliance business three years earlier. Its shares nearly doubled, rising 95%, in 2023, and were up another 37% this yearGE Aerospace will retain the longtime GE stock symbol, and Culp as its CEO. Some have suggested he could be the successor for Dave Calhoun, the retiring CEO of another troubled iconic US company, Boeing.

Persons: Thomas Edison, Jack Welch, Larry Culp, David Paul Morris, divestitures, Culp, Jason Redmond, Dave Calhoun Organizations: New, New York CNN, GE, Dow Jones, Walgreens Boots Alliance, General Electric, Bloomberg, Getty, NBC, Comcast, GE Capital, AAA, GE Healthcare, GE Aerospace, GE Vernova, Boeing, CNBC Locations: New York, San Jose , California, China, Everett , Washington, AFP

☆ The firm that backed Trump’s $175 million bond reveals how the deal came together
▼ + stars: | 2024-04-02 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

It was put together very quickly.”Based in California, Knight Specialty Insurance is known for providing subprime auto loans to car buyers with weaker credit scores. At first, Trump planned to post a mix of investment-grade bonds and cash as collateral (80% bonds and 20% cash), Hankey said. Although Knight Specialty received the bonds and approved them, he said they were not posted in the end. “Ultimately, he put up all cash,” Hankey said, adding that he does not know where the $175 million in cash that Trump posted came from. In 2022, Axos Bank, a California lender, loaned Trump $100 million to refinance the mortgage on Trump Tower.

Persons: CNN — Don Hankey, Donald Trump’s, Trump, ” Hankey, Hankey, Forbes, Specialty, Eric Trump, It’s Organizations: CNN, Specialty Insurance, Knight Specialty Insurance, Trump Organization, Trump, Knight, Axos Bank Locations: New York, California, Axos

☆ Truth Social owner Trump Media lost $58 million in 2023
▼ + stars: | 2024-04-01 | by ( Matt Egan | ) edition.cnn.com time to read: 1 min

How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues

☆ Harvard applications dip — but don’t plunge — following historic turmoil
▼ + stars: | 2024-03-28 | by ( Matt Egan | Ramishah Maruf | ) edition.cnn.com time to read: +4 min

The application figures are also the first look at Ivy League school admissions after the Supreme Court gutted affirmative action, although the data does not include demographic breakdowns. Harvard said Thursday it received 54,008 applicants for the class of 2028, down 5% from the year before. This marks the fewest applicants to Harvard since the class of 2024’s enrollment period during the Covid-19 pandemic. Harvard said it accepted 1,937 students for the class of 2028, translating to an admissions rate of 3.58%. The all-time low admissions rate was set just two years ago at 3.19%.

Persons: Claudine Gay, Liz Magill, Logan Powell, Virginia Foxx Organizations: New, New York CNN, Harvard University, Ivy League, Harvard, University of Pennsylvania, Columbia University, Cornell University, Brown University, US, University of North, House Education, Workforce Committee Locations: New York, Israel, Columbia, University of North Carolina

☆ Premarket stocks: Warren Buffett’s favorite indicator is flashing red
▼ + stars: | 2024-03-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The “Buffett Indicator” is flashing red. If the stock market is growing a lot faster than the economy, that could be a sign of a bubble. Yes, but: The so-called Buffett Indicator is not without flaw. By the closing bell, Trump Media ended at $57.99, up by a more modest 16% on the day. He said Trump Media is likely worth somewhere around $2 a share — nowhere near its closing stock price of $58.

Persons: Warren Buffett, Fortune Magazine “, Berkshire Hathaway, John Hussman, Hussman, Larry Summers, “, ”, Louis Navellier, Goldman Sachs, Navellier, doesn’t, Buffett, they’re, Jamie Dimon, Kevin Gordon, Charles Schwab, Elisabeth Buchwald, Donald Trump’s, CNN’s Matt Egan, Jay Ritter, Ritter Organizations: CNN Business, Bell, New York CNN, Fortune Magazine, Nvidia, Federal Reserve, Bloomberg, Navellier, Associates, “, JPMorgan, CNBC, CNN, Visa, Mastercard, Court, Eastern, of, National Retail Federation, Trading, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC Locations: New York, of New York

☆ Trump’s Truth Social is going public today. Experts warn $9 billion valuation defies logic
▼ + stars: | 2024-03-26 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

Truth Social had just 494,000 monthly active US users on iOS and Android combined in February, according to Similarweb stats provided to CNN. Even Threads had more than 10 times the number of monthly active users that Truth Social had in February, according to Similarweb. The last Trump company to go public, Trump Hotels and Casino Resorts in 1995, used the same DJT ticker symbol. Like any social media business, Truth Social faces pressure to grow its user base, expand its advertising business and build a subscription service. “If he wins in November, Truth Social will probably be the primary means of presidential communication,” said Kennedy.

Persons: Donald Trump’s, –, ”, Jay Ritter, Ritter, “, Reddit, Matthew Kennedy, Kennedy, Jonathan Macey, that’s, ’ Matthew Tuttle, Tuttle, it’s Trump, you’ve, ” “, I’m, Donald Trump, Trump, “ Donald J, TMTG, skeptically Organizations: New, New York CNN, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC, Trump, Renaissance, Truth, CNN, Facebook, Yale, Digital, Tuttle Capital Management, SEC, Trump Hotels, Casino Resorts, New York Stock Exchange Locations: New York, ”, United States

☆ Analysis: Trump’s DJT stock creates a unique new ethical nightmare
▼ + stars: | 2024-03-26 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

In the meantime, he’s also trying to sell “God Bless the USA” Bibles via his social media platform Truth Social for $59.99. )”A history of bankruptcyAnother note of caution for investors in DJT should the history of the last company Trump took public. Trump’s casino company also went by the ticker DJT, but on the New York Stock Exchange between 1995 and 2004, when it went bankrupt and was delisted. None of that has stopped what some experts have referred to as a bubble forming around the Trump Media & Technology Group. Susquehanna International Group did not return a request for comment about the company’s stake in Trump Media & Technology Group.

Persons: ”, Donald John Trump, he’s, CNN’s Matt Egan, “, Kara Swisher, Laura Coates, Egan, Reddit, Trump, Daniel Dale, Jeff Yass, Jordan Libowitz, ” Libowitz, Kedric Payne, ” Payne, can’t, weren’t Organizations: CNN, Nasdaq, Trump, “ Trump Media, Trump Media, New York Stock Exchange, Trump Media & Technology, NYSE, GameStop, AMC, Susquehanna International Group, Yass ., Yass . Susquehanna International Group, Trump Media & Technology Group, Supreme, DC, Trump Organization, New York Times Locations: United States, New York, DJT, Trump’s, ByteDance, TikTok, Yass, Trump, Yass . Susquehanna, Washington, Saudi Arabia, Qatar, DC

☆ America’s largest companies are fueling inequality, says new study
▼ + stars: | 2024-03-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

About 90%, or $1.1 trillion, of that profit went to shareholders through stock buybacks and dividend payments, according to new research from anti-poverty organization Oxfam International. At the same time, the study found, only 10 of those 200 companies have made public statements in support of paying a living wage. For some of those companies, the average CEO-to-worker pay ratio is now above 1,500 to 1, the nonprofit confederation found. Oxfam’s study found that on average, pharmaceutical companies paid just 11.6% in taxes in 2022 (that’s down from 11.8% in 2021). Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.

Persons: —, we’ll, ”, Irit Tamir, Joe Biden, Donald Trump, Matt Egan, Devin Nunes, Dave Calhoun, Chris Isidore, Calhoun, Max Organizations: CNN Business, Bell, New York CNN, CME, Oxfam International, Oxfam, Corporations, Institute for Policy Studies, Tax, Truth Social, Trump Media, Trump Media & Technology Group, Corp, Digital, Trump, Nasdaq, Big Tech, ”, overvaluing Trump Media, SEC, Twitter, CNN, Boeing, CNBC, Alaska Airlines, Max Locations: New York, United States

☆ Truth Social owner Trump Media will begin trading Tuesday as the merger closes
▼ + stars: | 2024-03-25 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Truth Social owner Trump Media & Technology Group announced Monday its merger with a publicly traded shell company has closed and trading will begin on the stock market on Tuesday. Trading of the new company under the ticker symbol “DJT” on the Nasdaq Stock Market is set to begin on Tuesday, the companies said. Shares of Digital World Acquisition Corp (DWAC), the shell company that now owns Truth Social, surged more than 20% on Monday. Experts warn that the market is overvaluing Trump Media given the company’s fundamentals. Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.

Persons: Donald Trump, Devin Nunes, ”, ” Nunes, CNN’s Elisabeth Buchwald, Krystal Hur Organizations: New, New York CNN, Truth, Trump Media & Technology Group, Trump Media, Corp, Nasdaq, Digital, Trump, Big Tech, overvaluing Trump Media, SEC, Twitter, CNN, AMC Entertainment, GameStop Locations: New York

☆ The last time Trump took a ‘DJT’ business public, it ended up in bankruptcy
▼ + stars: | 2024-03-25 | by ( Allison Morrow | David Goldman | ) edition.cnn.com time to read: +4 min

New York CNN —Starting Tuesday, there’s a new company on the Nasdaq: Trump Media & Technology Group, which will trade under the stock ticker DJT. The social media app was never a blockbuster, though, and it’s unclear how the company will ever make money. While Trump Media may be new, its stock ticker is a throwback to Trump’s only other publicly traded company. Trump bestowed the same initials on his Atlantic City casino business, Trump Hotels and Casino Resorts, back when that company went public in 1995. Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.

Persons: there’s, Donald John Trump, we’ve, Trump, “, ” Trump, ”, Jonathan Macey, Matt Egan, he’s, CNN’s Matt Egan Organizations: New, New York CNN, Nasdaq, Trump Media & Technology Group, Republican, Capitol, Trump Media, Atlantic City, Trump Hotels, Casino Resorts, Mahal, New York Times, Trump Entertainment Resorts, SEC, Twitter, Trump Locations: New York, ” Yale

Outside of his MAGA movement, though, the social media site is struggling to find a wider audience. It’s a critical milestone for the social media site as well as for Trump, providing a path for the former real estate tycoon’s return to Wall Street. Some conservatives, looking for an alternative to mainstream social media sites seen as hostile to their point of view, initially seemed eager to embrace Truth Social. Truth Social’s hot.”Many Republican politicians and conservative have not joined Truth Social or they post infrequently. “It’s safe to say that Truth Social has not broken into the mainstream,” said Joshua Tucker, co-director of the New York University Center for Social Media and Politics.

Persons: he’s, Nick Mirtschink, Donald Trump, Bree Duke, ” Duke, “, ” Mirtschink, Duke, MAGA, –, It’s, Trump, “ It’s, ” Jay Ritter, Donald Trump’s, ”, Josephine Lukito, ” Trump, Joe Biden’s, Devin Nunes, Glenn Youngkin’s, Megyn Kelly, Ben Shapiro, Glenn Beck don’t, Carolina Sen, Tim Scott, Matt Terrill, Florida Sen, Marco Rubio, ” Paul Leslie, you’re, ’ It’s, there’s, Nikki Haley’s, Elon Musk, Joshua Tucker, that’s, ” Kurt Holtzclaw, ” Holtzclaw, Lukito, ” Lukito, Jimmy Kimmel, “ Trump, Marjorie Taylor Greene Organizations: CNN, Truth, Trump Media & Technology, Trump, Wall, Facebook, Apple, University of Florida, University of Texas, Twitter, Social, South, Pew Research, Trump Media, Republican, Big Tech, Alabama Supreme, Virginia Gov, ” Trump, South Carolina Gov, Cuban, New York University Center for Social Media, ” Locations: Georgia, Rome , Georgia, Austin, South Carolina, Joe Biden’s State, Carolina, Florida, Arizona, New York

Search resuls for: "Matt Egan"

25 mentions found