Trump's social media company is going public. He could get $3 billion [Los Angeles Times (CA)]
Similarweb Ltd. Ordinary Shares (SMWB)
Company Research
Source: Los Angeles Times
a deal Friday to merge with the former president's media business. That means Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will soon begin trading on the Nasdaq stock market. Trump could receive a sizable payout in the process. He would own most of the combined company — or nearly 79 million shares. Multiply that by Digital World's closing stock price Thursday of $42.81, and the total value of Trump's stake could surpass $3 billion. The shares did fall 5% after the merger approval was announced. The deal's greenlight arrives at a time the presumptive Republican presidential nominee is facing his most costly legal battle to date: a $454-million judgment in a fraud lawsuit. But Trump won't be able to cash out the Friday deal's windfall immediately, unless some things change, due to a “lock-up” provision that prevents company insiders from selling newly issued shares for six months. Trump's presidential campaign did not immediatel
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- Shares in Trump's social media company spike after president-elect says he won't sell stake [Yahoo! Finance]Yahoo! Finance
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SMWB
Earnings
- 11/12/24 - Beat
SMWB
Sec Filings
- 11/12/24 - Form 6-K
- 11/12/24 - Form 144
- 9/18/24 - Form 6-K
- SMWB's page on the SEC website