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Trump media merger and DJT stock ticker debut could present host of ethics problems

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Richard W. Painter was the chief White House ethics lawyer from 2005 to 2007 under President George W. Bush. He is the S. Walter Richey Professor of Corporate Law at the University of Minnesota and is a graduate of Harvard College and Yale Law School.

Donald Trump remains in the midst of a cash crunch, with the former president facing multiple legal judgments totaling more than $500 million. But his money troubles may be relatively short-lived, thanks to the merger of Trump Media & Technology Group and Digital World Acquisition Corporation . Shares in the new company began trading Tuesday under the ticker symbol DJT, and the deal is expected to be worth around $3 billion to Trump.

Truth Social’s larger competitors such as X and Meta will learn to work with Trump — to his advantage of course — or suffer the wrath of a his new administration. Another platform, TikTok, is already under immense pressure from Congress because of its Chinese ownership. Sale to an American investor is apparently the sought-after solution, and — surprise, surprise — former Trump Treasury Secretary Steve Mnuchin is among those waiting in the wings to close a TikTok deal.

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Trump's social media company to trade under DJT ticker symbolFormer 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. DWAC's share price soared more than 30% on Monday after an appeals court paused a civil business fraud judgment against Trump for 10 days, and sharply reduced the appeal bond he will have to post to extend that pause. The share price bounce more than made up for the step drop in DWAC's stock on Friday after the merger was approved.
Bron: CNBC - 🏆 12. / 72 Lees verder »