/biz/ - Business & Finance

>>58149211
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Truth Social had about 494,000 U.S. mobile app users on iOS and Android in February ... down on a year-over-year basis, a 51% decline for mobile apps. He is not listed as a member of the company’s new board. Digital World is a special purpose acquisition company (SPAC), also called a blank check company. “This is a stock where the market price is divorced from fundamental value,” said University of Florida professor Jay Ritter. He estimated that the stock is worth about $2 a share and he predicted that trading in the stock would continue to be volatile as Trump supporters buy and sell shares.His Atlantic City casino business, Trump Hotels and Casino Resorts, never turned a profit and ended up in bankruptcy in 2004, wiping out shareholders. Trump’s company lost money every single year of its existence, putting it more than $600 million in the red. Yet Trump himself made out fine. Between 1995 and 2004, Trump took home about $40 million in salary, bonuses and options. ... pocketing $6.1 million from the re-named Trump Entertainment Resorts company, which traded under TRMP. The new name and ticker didn’t help the company, though. It lost $2 billion over five years and filed for bankruptcy a second time in 2009.
A look at the fundamentals suggests the stock is wildly overvalued. Truth Social’s user base is shrinking – more so than that of X, the company formerly known as Twitter.