Trump's Truth Social is going public today. Experts warn $9 billion valuation defies logic [CNN]
Similarweb Ltd. Ordinary Shares (SMWB)
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Source: CNN
Trump Media & Technology Group, the owner of struggling social media platform Truth Social, is set to begin its long-delayed journey as a public company at Tuesday's opening bell under the ticker symbol “DJT.” Wall Street is assigning Trump Media an eye-popping valuation of around $9 billion – a price tag that experts warn is untethered to reality. Shares of Digital World Acquisition Corp., the shell company that is about to become Trump Media, have spiked nearly 200% so far this year That includes a 35% surge Monday after the deal closed. The skyrocketing share price comes despite the fact that Trump Media is burning through cash, piling up losses and its main product – Truth Social – is losing users. “This is a very unusual situation. The stock is pretty much divorced from fundamentals,” said Jay Ritter, a finance professor at the University of Florida's Warrington College of Business, who has been studying initial public offerings (IPOs) for over 40 years. Ritter said th
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News
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- Mickey Mantle Memorabilia Keeps Setting Records For Auctioneers [Forbes]Forbes
- Truth Social tiene una ventaja frente a las plataformas de derecha que flaquean [The New York Times]The New York Times
- Similarweb to Announce First Quarter 2024 Financial Results on May 7, 2024, After Market CloseBusiness Wire
- Trump Media Stock Plummets After Truth Social Announces Live TV Streaming Platform [Yahoo! Finance]Yahoo! Finance
SMWB
Earnings
- 2/13/24 - Beat
SMWB
Sec Filings
- 3/8/24 - Form 144
- 3/7/24 - Form 144
- 3/6/24 - Form 144
- SMWB's page on the SEC website