Makes the Stock Market look like a scam to every normal person. Hurts the idea of ever investing or trusting any institution that is involved in investing. So yes a massive investigation of everything about this is warranted. It should be done by Congress, and Federal investigators.
Frankly, we need to severely curtail limited-liability corporations to begin with. Not only are they sure as Hell not “people,” incorporation was supposed to be a privilege granted in exchange for the company accomplishing some specific goal for the the public good!
I guess the narrative here that Trump feeds to the retail stockholders is going to be that he was going to make everyone wealthy and that it was a great buy but that evil nasty short sellers ruined the party.
In all seriousness, it boggles me how everything that guy touches winds up with some level of trying to mislead people.
I’m afraid that this is all he is as a person. He doesn’t actually do or produce things, he pretends to do so and fleeces money from sycophants in the process.
I hope that a year from now, he’s not telling Trump supporters that George Soros or whoever stole their and his money by shorting and asking for campaign contributions for another presidential run so that he can fix the stock market for them.
lol i bet he did! Meanwhile gamestop has 1B cash on hand is profitable and has a shit market cap of 3B. WAKE THE FUCK UP ALL US MARKETS ARE ALL BULLSHIT MADE UP ALL THE TIME.
What motivates you to shit on people? Did you dad leave you as a kid? Mom was a cunt? Who knows. You like that loser at the party we didn’t invite and shows up and won’t shut up. You must care as much as me cause here we are, sharing an intimate moment…
SEC rules for insiders are pretty strict. And he already made billions on the IPO. Even with the stock price crashing he’s still making a bundle, so I doubt there’s any reason for him to take a risk on illegal trading.
From what I understand; he can try to get a loan against the stock, but it is apparently unlikely any bank would make those loans given hes not allowed to sell the stock for another five months now.
It’s not a law that says he can’t trade his shares for six months. It was part of the deal going “public” (they loopholed out of having an IPO). That deal also can be changed by the board of directors. That board is just sycophants like Devin Nunes and one of his sons he doesn’t hate.
Do you guys really want them to look into your stock being manipulated? Because I think there might be some investigation in the IPO being massively overvalued…
It wasn’t an IPO, though. DWAC (a company which was formed specifically to acquire other companies) acquired Truth Social at what everyone thinks is a massively overvalued price.
All this short selling isn’t institutional investors duping retail investors, it’s institutional investors realizing how thoroughly DWAC screwed its retail investors by engaging in this deal solely to transfer wealth to Donald Trump. The Financials simply don’t make sense, and the institutions know it.
And the weird part is, even though there are a lot of lawsuits right now around Truth Social and DWAC, I don’t think a single one is from an investor. Because those investors have been duped into believing that all the facts around the acquisition are lies, even though the financial filings paint the picture directly.
