Donald Trump Is Poised to Pocket Billions in a Meme Stock Media Merger

  • 📰 VanityFair
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 55%

Business News News

Business Business Latest News,Business Business Headlines

The former president has kept his finances in the dark. But now he’s pressed for cash and Truth Social could be the answer.

In court, Trump’s lawyers insinuated that he doesn’t even have $450 million—not in cash, at least, unsuccessfully appealing to get the penalty lowered to a $100 million bond. So, where is Trump going to get all of this money? Oddly, the answer might lie in Truth Social, the social media app that Trump and his associates started after he was summarily booted from Twitter in the aftermath of the January 6, 2021 insurrection.

. Jay Ritter, a finance professor at the University of Florida, says meme stocks often depend on the “greater fool theory of investing,” meaning rational investors might buy in expecting the stock price to rise and betting that they can sell their shares to a greater fool willing to buy them at a higher price.

for illegally holding merger talks with Trump and Co. before it itself went public.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 391. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Texas Poised to Lose Billions in Investment if Donald Trump ElectedAllies of the former president have said he will repeal the Inflation Reduction Act—which would hand Texas $131 billion by 2030.
Source: Newsweek - 🏆 468. / 52 Read more »