Trump’s DJT stock creates a unique new ethical nightmare
The newly public company trading on the Nasdaq with the ticker “DJT” has one dominant shareholder: Donald John Trump, the cash-strapped former president of the United States.
That a fledgling, unprofitable social media platform can make the former president billions of dollars on paper is a marvel of the stock market. Trump can’t realize the windfall by selling his shares or borrowing against them for six months unless the company’s board, which is packed with his supporters, gives him the OK.
It probably can’t get Trump cash soon enough to make the drastically reduced $175 million bond he needs to post for the civil tax fraud charges levied on him and his other companies. Other penalties in that civil fraud decision, including the suspension of Trump’s ability to do business in New York, have been paused for now.
The fact that Trump’s newly public company makes little in the way of revenue and loses money should be fair warning to investors. In the meantime, he’s also trying to sell “God Bless the USA” Bibles via his social media platform Truth Social for $59.99.
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