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☆ Stocks making the biggest moves midday: Krispy Kreme, Trump Media, McCormick and more
▼ + stars: | 2024-03-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Krispy Kreme — Krispy Kreme popped nearly 30% and headed for its best day on record. Trump Media & Technology Group — Shares of former President Donald Trump's social media company surged 35% after it began trading on the Nasdaq . Trump Media completed its merger with shell company Digital World Acquisition Corp . McCormick — The stock jumped 10% after the spice maker topped earnings and revenue expectations for its fiscal first quarter. Reddit — Reddit popped about 15% as investors continued buying up the social media stock following its Thursday debut on the New York Stock Exchange .

Persons: Kreme, McDonald's, Donald Trump's, McCormick, Morgan Stanley, Alex Harring, Michelle Fox, Jesse Pound, Pia Singh Organizations: Trump Media & Technology, Nasdaq, Trump Media, Revenue, New York Stock Exchange, Viking Therapeutics, Seagate Technology, Micron Technology, Mizuho Securities, UPS —, UPS, JPMorgan Locations: FactSet

☆ Trump Media stock jumps more than 50% after DJT ticker debut
▼ + stars: | 2024-03-26 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

In this photo illustration a smartphone screen displays the logo of Donald Trump's Truth Social app March 25 2024 in Bath, England. The share price of Donad Trump's social media company jumped by more than 50% minutes after it began public trading under the ticker DJT on Tuesday morning. Trading in Trump Media & Technology Group was briefly halted amid the rise due to volatility before it resumed around 9:40 a.m. ET More than 6.5 million shares in Trump Media had changed hands by 9:50 a.m.. That stock was ignominiously delisted from the New York Stock Exchange nine years later.

Persons: Donald Trump's Organizations: Trump Media & Technology Group, Trump Media, NASDAQ, New York Stock Exchange, Trump Locations: Bath, England, 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

☆ Fact check: Trump tells ‘mind-bogglingly nonsensical’ story about the New York Stock Exchange
▼ + stars: | 2024-03-25 | by ( Daniel Dale | ) edition.cnn.com time to read: +7 min

Facts First: The stock exchange on which the Trump Media & Technology Group is being listed, the Nasdaq, is also headquartered in New York. In fact, the Nasdaq and the New York Stock Exchange are located in the same New York City borough of Manhattan. He said: “Like, what?”“I hope somebody advising President Trump informs him that the same investor protection rules that safeguard investors of the New York Stock Exchange also safeguard investors on the Nasdaq Stock Market,” Macey said. Colangelo served as acting associate attorney general in the first months of the Biden administration in early 2021 and then as principal deputy associate attorney general. As acting associate attorney general, he was third in command of the department – never the top official there, as Trump has previously claimed.

Persons: Donald Trump, ”, ” Jonathan Macey, Macey, Trump, ” Macey, Letitia James, Attorney Alvin Bragg, ‘ I’m, Lynn Martin, Stacey Cunningham, Sharon Bowen, Biden, Matthew Colangelo, “, Joe Biden, Bragg, Colangelo, Biden James, Jack Smith, Smith, General Merrick Garland, Garland, – Organizations: Washington CNN, Trump Media & Technology Group, New York Stock Exchange, Trump Media & Technology, Nasdaq, NYSE, “, Yale Law School, New, Manhattan, Attorney, Trump Media, Technology Group, U.S . Securities, Exchange Commission, Biden, Department, Trump, New York, federal Justice Department, DC, Justice Department Locations: New York, York City, Manhattan, York, Macy’s, Fulton County , Georgia, New York , Georgia, Florida, Washington

☆ Trump's net worth reportedly soars to $6.5 billion after media company stock jumps
▼ + stars: | 2024-03-25 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

The bonanza was the result of a merger approved Friday between Trump's social media company, Trump Media & Technology Group, and a shell company, Digital World Acquisition Corp., known as DWAC . Trump owns nearly 80 million shares, or roughly 58%, of Trump Media, which operates his social media site Truth Social. At DWAC's closing price Monday of $49.95 a share , Trump's stock was worth $4 billion on paper. The newly merged social media company said it will begin trading Tuesday under the ticker symbol DJT. MSNBC's Stephanie Ruhle on Friday described Trump's media company as a meme stock largely dependent on one man: Trump.

Persons: Donald Trump, Trump, MSNBC's Stephanie Ruhle Organizations: Trump Media & Technology Group, Bloomberg, Trump, Trump Media Locations: New York City, York

☆ Stocks making the biggest moves midday: Digital World Acquisition Corp., Boeing, Disney and more
▼ + stars: | 2024-03-25 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Masimo — The medical technology company climbed nearly 5%. Wells Fargo upgraded the stock to overweight from equal weight in light of the news. Super Micro Computer — The chip stock jumped nearly 10% after JPMorgan initiated coverage of the high-flying name. Foot Locker — Shares jumped 7% after Evercore upgraded shares to outperform from in line. Digital World Acquisition Corp. — The special purpose acquisition company leapt 26% after shareholders approved a merger with former President Donald Trump's social media company Trump Media & Technology Group, which owns Truth Social.

Persons: David Calhoun, Larry Kellner, Masimo, Wells Fargo, Samik Chatterjee, Chipmakers, Nelson Peltz's, Bob Iger, Evercore, Foot, Wedbush, GameStop's, Donald Trump's, Alex Harring, Jesse Pound, Hakyung Kim, Pia Singh, Sarah Min Organizations: Boeing, JPMorgan, Department of Energy, Semiconductor, Micron Technology, Nvidia, VanEck Semiconductor, Disney, Barclays, Fund Management, Mizuho, GameStop, Trump Media & Technology Group, Trump Media, United Airlines —, Reuters, U.S . Federal Aviation Administration, United Airlines Locations: Wells, Cleveland, Department of Energy . Cleveland, Ohio, Pennsylvania

☆ 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

☆ Trump’s Multibillion-Dollar Social Media Company Will Start Trading on Tuesday
▼ + stars: | 2024-03-25 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump’s social media company officially became a public company on Monday morning, and in the process the former president’s net worth has jumped by billions of dollars. A lawyer for Trump Media & Technology Group filed papers on Monday with the Delaware Division of Corporations, which said the company’s merger with a cash-rich shell company had formally closed. On Friday, shareholders of Digital World Acquisition Corp. approved the long-delayed merger with Trump Media by an overwhelming majority. Trump Media announced in a regulatory filing with the Securities and Exchange Commission that shares of the company would begin trading on the Nasdaq on Tuesday, under the stock symbol “DJT.”After the announcement, that stock jumped 24 percent to $45.60 a share. Trump Media is now valued at more than $5 billion — even though its flagship Truth Social digital platform took in just $3.3 million in revenue during the first nine months of 2023.

Persons: Donald J, ” Organizations: Trump Media & Technology Group, Delaware Division, Corporations, Digital, Trump Media, Securities and Exchange Commission, Nasdaq

☆ DWAC climbs 10% after shareholders approve merger with Trump's media group
▼ + stars: | 2024-03-25 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

In this photo illustration, Digital World Acquisition Corp (DWAC) logo is seen on a smartphone and Trump Media & Technology Group (TMTG) logo on a pc screen. Shares of Digital World Acquisition Corp. rose about 10% Monday morning after the approval of a merger between the shell company and the social media group owned by former President Donald Trump. DWAC shareholders voted Friday to approve the combination between the special purpose acquisition company, or SPAC, and Trump Media & Technology Group, the owner of the social media platform Truth Social. Shares in the merged company could begin publicly trading this week under the ticker symbol DJT, Trump's initials. Monday's rise comes after the stock fell nearly 14% Friday after DWAC shareholders signed off on the merger.

Persons: Donald Trump, Trump, Donald Trump Jr, Robert Lighthizer Organizations: Trump Media & Technology, DWAC, Trump Media & Technology Group, Trump Locations: Trump

☆ 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

☆ Opinion: Trump’s facing a legal one-two punch
▼ + stars: | 2024-03-25 | by ( Opinion Norman Eisen | Andrew Warren | ) edition.cnn.com time to read: +9 min

CNN —Contrary to the popular view that former President Donald Trump has successfully delayed accountability, this week he’s facing a one-two punch that has the potential to inflict lasting damage. Some say that this case, too, serves as an example of Trump’s success at delaying prosecution against him. On March 18, Trump’s lawyers told the court that it was a “practical impossibility” to secure such a large bond. The bottom line, however, is that the New York attorney general is likely going to continue putting liens on Trump’s properties. Whatever delays may be present in those jurisdictions, or in Florida’s Mar-a-Lago documents case, in New York the former president is facing serious hits.

Persons: Norman Eisen, Barack Obama’s, Andrew Warren, Donald Trump, Attorney Alvin Bragg, Letitia James, Norm Eisen, Bragg, Trump, Stormy Daniels, Daniels, Michael Cohen, –, Cohen, SDNY, Judge Juan Merchan, Donald , Jr, Eric, Judge Arthur Engoron, James, general’s Organizations: CNN, US Department of Justice, New, Manhattan, Attorney, New York, Trump, Andrew Warren State, US, Office, Southern, of, Trump Organization, Seven, NY, DC Locations: Hillsborough County , Florida, New York, of New York, Westchester County , NY, Springs, Manhattan, New York City, Saudi Arabia, Russia, Georgia, Florida’s Mar

☆ Truth Social owner Trump Media will begin trading under DJT ticker Tuesday
▼ + stars: | 2024-03-25 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Former President Donald Trump's newly merged social media company will begin trading under the stock ticker symbol DJT on Tuesday, the firm said in a new regulatory filing. The company, which owns the Truth Social app platform, will be called Trump Media & Technology Group Corp., and will trade on the NASDAQ market. TMTG is the result of a combination of Trump's company and the shell company Digital World Acquisition Corp.A majority of DWAC shareholders on Friday voted to approve the merger with TMTG. DWAC's share price soared up to 25% higher on Monday's news, recovering losses it saw Friday after the merger was approved. Former DWAC CEO Eric Swider will become a director of Trump Media.

Persons: Donald Trump's, Trump, Devin Nunes, DWAC, Nunes, Eric Swider Organizations: Trump Media & Technology Group Corp, NASDAQ, TMTG, U.S . Securities, Exchange Commission, Trump Media, Big Tech

☆ Why this is a wild week for Trump even by his standards
▼ + stars: | 2024-03-24 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

But exemplifying the roller-coaster nature of his public career, Trump is also soon poised for a massive financial windfall. The case, related to payment to an adult film star ahead of the 2016 election, could lead to Trump being a convicted felon by November’s election. His legal team said last week the bond amount was a “practical impossibility” for Trump, whose wealth is tied up in skyscrapers and golf resorts. Trump’s legal team has also said he shouldn’t be required to sell assets to meet the deadline since doing so would create a fire sale devastating to his business. The White House has done its best not to comment on the case, to avoid giving Trump more political ammunition.

Persons: Donald Trump’s, impeachments, Trump, he’s, Joe Biden, It’s, Letitia James, Jean Carroll, James, subpoenaing Trump, –, litigator Mitchell Epner, ” Epner, Fredricka Whitfield, Biden, Arthur Engoron, ” Trump, Alexandria Ocasio, Cortez, Donald Trump, Juan Merchan, Michael Cohen, Trump’s, there’s Organizations: CNN, Trump, Republican Party, Trump Organization, New York, New, Biden White, , New York, Republican, ”, The New, The New York Democrat, Trump Media, Technology Group, Southern, of, White Locations: New York, Manhattan, Westchester County , New York, ,, Alexandria, “ State, The New York, of New York, Lago, America

☆ Trump's Truth Social has only 5 million members and is performing badly but could be valued at more than $5 billion
▼ + stars: | 2024-03-24 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Trump Media's social media app could be valued at more than $5 billion. Investors in Digital World Acquisition Corp. approved a merger deal with Trump's company. Despite the potential windfall, Truth Social is facing mounting losses. AdvertisementDonald Trump's social media platform is losing money, but it could still be valued at over $5 billion. Former President Trump's Truth Social is set to become part of a publicly traded company after a long-delayed merger was approved.

Persons: —, Donald, Trump's Organizations: Trump, Service, Trump Media & Technology Group, Associated Press, Business

☆ Big Republican Donor Jeff Yass Owned Shares in Trump Media Merger Partner
▼ + stars: | 2024-03-24 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Jeff Yass, the billionaire Wall Street financier and Republican megadonor who is a major investor in the parent company of TikTok, was also the biggest institutional shareholder of the shell company that recently merged with former President Donald J. Trump’s social media company. A December regulatory filing showed that Mr. Yass’s trading firm, Susquehanna International Group, owned about 2 percent of Digital World Acquisition Corp., which merged with Trump Media & Technology Group on Friday. It’s unclear if Susquehanna still owns those shares, because big investors disclose their holdings to regulators only periodically. But if it did retain its stake, Mr. Yass’s firm would become one of Trump Media’s larger institutional shareholders when it begins trading this week following the merger. Shares of Digital World have surged about 140 percent this year as the merger with the parent company of Truth Social, Mr. Trump’s social media platform, drew closer and Mr. Trump became the presumptive Republican nominee for president.

Persons: Jeff Yass, Republican megadonor, Donald J, Trump Organizations: Wall Street, Republican, Susquehanna International Group, Trump Media & Technology Group, Susquehanna, Trump, Truth

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

☆ Trump risks tanking Truth Social's stock price if he cashes out
▼ + stars: | 2024-03-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Donald Trump's social media platform Truth Social is set to go public next week. Truth Social, a platform developed by former president Donald Trump, has finally secured approval to merge with its shell company Digital World Acquisition Corp. After all, many DWAC investors don't appear to be trading on fundamentals, especially as Truth Social isn't reputed for high usage or revenue. Social Truth user KookyBar said after the merger, writing in a forum dedicated to DWAC. At a price of $40, the newly formed Truth Social entity would be worth more than $5 billion, with Trump owning a majority of the stock.

Persons: Donald Trump's, —, Donald Trump, Joe Biden, Trump, Donald Trump Jr, Devin Nunes, KookyBar Organizations: Service, Corp, Trump, SEC Locations: New York

☆ The last time a Trump company went public it didn't go well for investors
▼ + stars: | 2024-03-23 | by ( Dareh Gregorian | ) www.cnbc.com time to read: +4 min

The newly merged company that's set to go public, Trump Media, will be listed on the Nasdaq stock exchange with the letters DJT, Trump's initials. In the initial public offering, the company raised $140 million, selling 10 million shares at $14 each. He also used company cash to buy Trump-branded merchandise, including $1.2 million on Trump Ice bottled water, the report said. Under the merged company, Trump would have nearly 80 million shares, worth around $3 billion. It's unclear when exactly Trump would be able to cash in on the upcoming listing for his social media company.

Persons: Ina, Revel, Wayne Parry, Donald Trump's, Trump, Jean Carroll's, Letitia James, doesn't, James, Donald Trump Jr, — CNBC's Dan Mangan Organizations: Taj, Atlantic City, Trump, Casino Resorts —, Trump Media, Nasdaq, Trump Hotels, Casino Resorts, New York Times, New York Stock Exchange, CNBC, The Washington Post, Social, Shareholders, Corp, Trump Media & Technology Group, New York Locations: Atlantic City, Washington, Atlantic City , New Jersey, —

☆ Trump says 'I love Truth Social' one day after DWAC stock plunges on social media merger vote
▼ + stars: | 2024-03-23 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Chart for price of shares in Digital World Acquisition Corp. in days leading up to and including shareholder approval of merger with Donald Trump's social media company. Donald Trump on Saturday told his many online followers, "I LOVE TRUTH SOCIAL" — but shareholders in the newly merged company that will own that social media app might not feel so great after a sharp drop in price the day before. The shell company Digital World Acquisition Corp. saw its share price plunge nearly 14% in the hours following shareholder approval Friday morning of a merger with the former president's social media company to take it public. DWAC shares closed trading Friday afternoon at $36.94 per share. After-hours trading saw the stock recover a bit to $38.55 per share.

Persons: Donald Trump's, Donald Trump Organizations: Corp, Saturday, Trump Media

☆ Jim Cramer's week ahead: new consumer data and earnings from Walgreens
▼ + stars: | 2024-03-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday guided investors through next week's most important happenings on Wall Street, saying to watch out for earnings from Walgreens as well as new data about consumer spending. The company could prove to be a significant windfall for Trump, Cramer said, who is facing hefty legal bills. Tuesday brings earnings from GameStop , and Cramer said he's expecting poor results. Cintas and Carnival report on Wednesday, and Cramer said he's optimistic about the former, but called the latter "a wild card." Cramer said he would like to hear Wentworth explain how he plans to return Walgreens to growth.

Persons: CNBC's Jim Cramer, Cramer, Donald Trump —, he's, McCormick, — Hormel, Mills —, Kimberly, Clark, Tim Wentworth, Wentworth Organizations: Walgreens, Trump Media, Corp, Trump, GameStop, Walgreens Boots Alliance, Federal Reserve

☆ DWAC stock shares close nearly 14% down after Trump social media merger approved by shareholders
▼ + stars: | 2024-03-22 | by ( Dan Mangan | ) www.cnbc.com time to read: 1 min

The price of shares in Digital World Acquisition Corp. closed trading Friday nearly 14% lower than their opening price after the shell company's shareholders approved a merger with the social media company owned by former President Donald Trump. DWAC had opened the trading day at $44.20 per share, but quickly tumbled on the heels of the vote. By the market close, DWAC shares were selling for $36.94 per share, a drop of $5.87, or 13.71%. The newly merged company, Trump Media, could begin trading under the new ticker DJT next week.

Persons: Donald Trump, DWAC Organizations: Trump Media

☆ Trump social media company will go public as DWAC shareholders approve merger
▼ + stars: | 2024-03-22 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Shareholders in Digital World Acquisition Corp. voted Friday to approve a merger with Donald Trump's social media company, a deal that could net the former president an eventual windfall of $3 billion or more. The vote by DWAC shareholders comes about 2½ years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform. Shares in the newly combined company, Trump Media, could begin to be publicly traded next week under the stock symbol DJT, Trump's initials. The value of Trump's shares in the merged company would be affected by any decline in DWAC's share price.

Persons: Donald Trump, Donald Trump's, Letitia James Organizations: Corp, Trump Media & Technology Group, Trump, New York, Trump Media Locations: Washington ,

18-22 View All 11 ImagesMeanwhile, Trump's campaign – and the national Republican Party – are having cash problems of their own. President Joe Biden's campaign raised $21.3 million in February – almost twice the $10.9 million Trump's campaign raised during the same period, according to filing with the Federal Election Commission. The Democratic National Committee also outraised its counterpart, with the Democratic group pulling in $16.6 million in February, compared to the $10.7 million the Republican National Committee raised in the same period. The amounts for both parties and candidates do not include money raised by outside groups or coordinated committees on behalf of each candidate. Big donors might be reluctant to contribute money to a Trump or GOP committee if they think it will go to pay Trump's private legal bills.

Persons: Donald Trump, Trump, boastful Trump, Letitia James, –, Republican Party –, Joe Biden's, Richard Lau, Lau, Biden, “, I’m, ” Biden, Donald, ’, it's, Sarah Bryner, Bryner, Donald Trump Jr Organizations: Republican National Committee, Republicans, Republican Party, Federal, Commission, Democrat, Trump, Democratic National Committee, Democratic, Save America PAC, RNC, Republican, GOP, Rutgers University, Biden –, Responsive, Trump Media, Acquisition Corporation Locations: New York, Dallas

☆ Trump is about to get $3 billion richer after deal is approved to take his company public. But it won’t solve his cash crunch
▼ + stars: | 2024-03-22 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

Truth Social owner Trump Media will begin trading Tuesday as the merger closesCNN —Investors have approved a deal on Friday to make Truth Social owner Trump Media a publicly traded company. The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials. Shareholders voted to approve Trump Media’s merger with a blank-check company, following years of legal and regulatory obstacles. Trump will own a dominant stake in a public company, with shares worth more than $3 billion at current market prices. First, experts say the market is drastically overvaluing Trump Media based on the company’s fundamentals.

Persons: Donald Trump, Trump, Trump won’t, ”, Matthew Kennedy, Kennedy, Charles Whitehead, Jonathan Macey, Jay Ritter, Ritter, Whitehead, …, Xavier Kowalski, Schulte Roth, Zabel, ” Banks, ” Whitehead, “, ‘ Organizations: Social, Trump Media, CNN, Digital, Corp, Trump Media & Technology Group, Shareholders, Trump, Renaissance Capital, Cornell Law School, SEC, University of Florida, – Locations: New, Manhattan, ” Yale

☆ Potential Obstacle to Trump Media’s Merger Appears to Have Been Cleared
▼ + stars: | 2024-03-09 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

The threat of a last-minute obstacle to the merger of former President Donald J. Trump’s social media company and a cash-rich shell company appears to have subsided. Two early founders of Trump Media & Technology Group reached a temporary truce with Mr. Trump’s company at a hearing on Saturday morning in Delaware Court of Chancery. The lawsuit, filed on Feb. 28 by a company controlled by Wes Moss and Andy Litinsky, had the potential to delay a scheduled March 22 vote by shareholders of Digital World Acquisition Corp. on the long-delayed merger with Trump Media. If shareholders approve the merger, it would give Trump Media more than $300 million in badly needed cash to keep operating. The deal would also boost Mr. Trump’s net worth by more than $3 billion, based on Digital World’s current stock price.

Persons: Donald J, ’, Wes Moss, Andy Litinsky Organizations: Trump Media & Technology Group, Truth, Digital, Trump Media Locations: Delaware Court

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