Donald Trump tries his hand with meme-stocks

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Investors in his SPAC may get burned, but they don’t seem to mind

die-hards go to talk politics, God and the stockmarket. On Reddit and Rumble they pump up their man Donald Trump and his social-media company, Truth Social, which they pray will soon go public via a), then they read a Bible verse or two. One Old Testament proverb—“Buy the truth and do not sell it”—is almost too apt. “That’s what we’re doing here, folks,” says Chad Nedohin, a hype-man on Rumble.

“Focusing on theseMr Trump will own a stake worth $4.1bn. But a six-month lock-up, during which he cannot sell, makes paper gains of little use in his present liquidity crunch. In February Mr Trump was fined nearly half a billion dollars for fraud at hisThat is proving tricky: about 30 bond companies have turned him down so far because he lacks enough cash to put up as collateral. He has asked an appeals court to reduce the bond.

 

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