R&I – TxPAT***
The financial sharks made out like bandits after the biggest shark, Donald Trump, spun air into gold. He created a media company, Trump Media and Technology Group, with no operation and no cash. Then, he sat back and watched cash fall into his lap as shares blew up to 550 percent in one week
Some investors are getting richer, but:
‘NOT EVERYONE IS GOING TO MAKE MONEY.’
On Friday stocks were $175 a share. The investor behind the company all of a sudden owned $1 billion’s worth of stock. If the hedge funds got in early, they owned “hundreds of millions in gains.” Of course, they could have already taken their win and jumped off of the Trump wagon.
Professor at the New York University School of Law Michael Ohlrogge studies SPACs. He said SPACs were “offering flimsy financials.” Even so, Trump’s deal stood out:
‘YOU COULDN’T DO A TRADITIONAL IPO. I DON’T THINK YOU’D BE ABLE TO FIND ANY INVESTMENT BANK WHO WOULD HAVE DONE THIS.’
3rd_Party_Yesterday
Article URL : https://bipartisanreport.com/2021/10/28/trumps-fake-company-is-making-him-rich-while-screwing-his-fans/