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Trump Media’s moves
A New York jury found Trump guilty of falsifying business records and a scheme to illegally influence the 2016 election by secretly paying cash to a porn actor who claimed the two men had sex.
WATCH NOW: Trump guilty of all 34 criminal charges in secret trial in New York
Shares fell 9% after Thursday’s close when news of the verdict broke, but returned to positive territory an hour before Friday’s open.
The stock, which trades under the symbol “DJT,” has been incredibly volatile since its debut in late March, joining the ranks of meme stocks that tend to bounce up and down as small-pocket investors look to profit. Bullish momentum. Oscillation at the right time.
Inventory has tripled this year, leading to double-digit percentage movements either up or down in a single day. It peaked at about $80 in intraday trading on March 26. As a reminder, the S
In an agreement with the Canadian Securities and Exchange Commission,
Earlier this month, Trump Media reported squandering more than $300 million in the last quarter, in its first earnings report as a publicly traded company.
During the three-month period ended March 31, the company posted a loss of $327. 6 million, which it said included $311 million in non-cash expenses similar to its merger with a company called Digital World Acquisition Corp. DWAC is an example of what’s happening. , called a special purpose acquisition company, or SPAC, which offers startups faster and easier methods to get their shares listed on the stock exchange, but with less control.
Trump Media
Trump Media had already attracted at least two other listeners: one who resigned in July 2023 and another who fired its board of directors in March, just as it was rehiring BF Borgers.
Trump was charged with 34 counts of falsifying business records at his company as part of an alleged scheme to hide potentially embarrassing stories about his campaign for the 2016 Republican presidential election.
The felony rate stems from reimbursements made to Trump’s then-lawyer, Michael Cohen, after he secretly paid $130,000 to porn actor Stormy Daniels to silence his claims of extramarital sex with Trump in 2006. Trump has been accused of misrepresenting Cohen’s identity. legal fees to hide that they were similar to a secret payment.
Trump’s defense argued that Cohen’s bills for valid legal services.
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